In an increasingly interconnected world, customer trust remains the most important factor for every purchase.
The trust we give business is based on the assumption that companies will protect our information responsibly. Hence the need for better industry standards and greater regulation.
Europe’s Data Privacy laws (GDPR) came into effect a year ago on 25 May 2018. In a short span of a year, it became a game changer – raising public awareness about data privacy and encouraging organisations to review how they manage and protect data. GDPR brought the focus back to customers, clients and individuals in every business sector.
But the ‘Data Privacy Movement’ has not been confined to Europe. The evolution of data protection, privacy and cyber security legislation across the globe has been phenomenal. Whilst global entities are now preparing to implement California’s Consumer Privacy Act, other American States will not be far behind. Countries such as India, New Zealand, Bahrain, Brazil, Indonesia, Kenya and Zimbabwe are also likely to pass their own data privacy legislation soon. And, there are several other countries which have amended or are in the process of amending their existing data privacy and protection laws.
B2B or B2C, data privacy is here to stay. It’s not going away and its only going to get bigger and more complex. So, take time now to put your ‘house in order’ before its too late.