Although many companies consider the new regulation an unexpected problem, GDPR can help optimize many professional activities and processes
The Brazilian General Data Protection Regulation (GDPR) is the main federal legislation for the privacy of personal data, just as the GDPR (General Data Protection Regulation) is for the European Union. The regulation, which came into force in August 2020, has implications for companies and individuals throughout the national territory, regardless of the medium, the country of their headquarters, or the country in which the data is located, provided that:
(a) the data processing is carried out in Brazil;
b) the purpose of the processing is to offer goods or services or to process data of individuals located in Brazil;
c) the personal data processed have been collected in the national territory.
Although many companies consider the new regulation an unexpected problem, GDPR can help optimize many professional activities and processes. If managers invest in meeting the demands of the law, they may discover several unique business opportunities that await them. Here are a few of them.
1. Credibility and brand reputation
A company can gain credibility and improve its brand reputation if it meets the requirements of the GDPR. By complying with the law, the organization demonstrates that it has achieved a high level of accountability and protection of personal data, something that all customers, employees, and business partners will certainly appreciate. Today, privacy and information security are seen as key differentiators to stand out in the market.
2. Process optimization
GDPR implementation in companies requires that all departments take a close look at all stages of the processing of the personal data to which they have access. To do so, they must map the flow of personal data and check several issues, including data collection, storage, disposal, and protection measures. By doing this, it is possible to identify processes that can be changed and improved. There are numerous advantages to be gained by complying with the legislation, in addition to privacy itself. Process optimization is certainly one of them.
3. Incentive for innovation
GDPR can be an incentive for innovation for companies that know how to make use of it. For example, improvements in secure software development processes (DevSecOps), or the creation and development of new functionalities to assure customers that their personal data is securely treated. The protection of personal data has become a strategic issue for companies that want to participate in a global innovation movement.
4. Putting the consumer first
GDPR puts the consumers first by strengthening their existing rights and introducing new ones. Privacy and protection of personal data are part of a global movement, and consequently, there will be a cultural change in companies as well. The adaptation to GDPR requires effort and dedication, but it is certainly a strategic and important issue for the future of the company. Ensuring a secure environment for clients’ personal data is a guarantee of standing out in a competitive market.
To help our clients comply with the GDPR, Pryor Global offers the services of a Data Protection Officer (DPO). This professional will help your company to provide solutions for the security of the personal data of customers, employees, and business partners.