President's Blog - GDPR - It is coming down the track...
Compliance underpins all our businesses. It forms the accepted framework that allows all of us to trade responsibly and it helps our customers and consumers and staff form a relationship with us. It helps us build our reputations that ultimately help us continue to grow. Data compliance has reached headlines with an increasing pace recently and I think it has helped us understand as businesses that we need to take it extremely seriously both as suppliers and as consumers.
Public concern over privacy is significant and it grows with every new high-profile data breach story. In a recent report by RSA, which surveyed 2000 UK consumers, two thirds of those surveyed said they had lost trust in or even boycotted businesses that mishandled their data. On the other hand, 50% of those surveyed said they would be more likely to shop with a company that could prove it takes data protection seriously.
So the General Data Protection Regulation is not just important to us because we’ll get ourselves in trouble if we don’t comply. It is important to us because it’s important to our customers and our staff, and because none of us can afford to lose business or have our reputations damaged. It will be part of how we do business from next month onwards and I suspect it will dictate the channels we do business on for many years to come.
So to all our members - I would say GDPR is coming down the track and will be with us on 25th May – we should embrace it and make it an opportunity spring clean our data and to tighten up our processes.