What Do Data Privacy and Brand Trust Have In Common?
For many US organizations, the introduction of the California Consumer Privacy Act (CCPA) served as a catalyst and a business justification to invest in privacy automation and data intelligence technologies.
These companies rightly viewed compliance as an imperative. But compliance with CCPA is a first step, not an end state — a floor, not a ceiling.
Looking Beyond Compliance
From a sheer compliance perspective, implementing a set of baseline processes and technologies is necessary due to an onslaught of emerging data protection and privacy regulations — from the Consumer Data Protection Act (CDPA) in Virginia to the re-introduced Washington Privacy Act to competing privacy bills currently tabled in the US Congress.
But companies in the know ultimately see privacy implementation as not only serving to minimize the threat of fines, penalties, and class action lawsuits; they see it as an investment in brand trust.
Privacy protection extends beyond the letter of the law — and organizational accountability extends beyond the specifics of any single legal regime.
There is, of course, risk that comes from non-compliance. Under the law, enterprises are obligated to produce policies and procedures that ensure ethical and legal established processes. But with brand trust becoming a bigger concern for end-users and companies alike, risk is not merely confined to a company’s failure to follow established laws.
Why Is Brand Trust So Important?
In the age of data-driven organizations, personal information is an asset that can be used to generate insights, identify new opportunities, and enhance customer experience.
On the flip side, personal information is a liability if the data is not collected, protected, and utilized appropriately.
When companies fail to take the right steps to manage and mitigate liability from collecting and processing personal data, they risk losing the ability to accumulate a powerful asset and optimize their data. Preserving brand trust, therefore, becomes a key strategic business concern.
A Commitment to Privacy, An Investment in Customers
So how can enterprises make the right investments to safeguard privacy as a means to ensure brand trust?
A commitment to privacy as a core business value is a foundational step. In turn, that commitment needs to be followed up with a measurable strategy to define, communicate, and operationalize policies on how data is collected, processed, and shared.
That strategy starts with compliance. If, however, enterprises are perceived as merely paying lip service to privacy protection, or hiding behind the specifics of a regulation, they face the risk of compounding damage to brand trust.
To make the right choices about the collection and use of personal information, companies must implement sound processes and modern tools for demonstrable and sustainable privacy protection.
The Path Forward: Automation and Scalability
Proactive companies that see how brand trust is a natural extension of privacy are adapting to a growing number of regulations and protecting the rights of their customers, employees, and consumers.
As technology and systems progress, there are more opportunities for businesses to build the proper framework and data intelligence to automate and scale privacy initiatives.
The first step is to establish processes necessary to demonstrate compliance — such as building privacy governance and responding to data rights requests.
Second, managing the scalability of manual operations can stress resources without automation as data rights requests increase. Many organizations don’t have high-cost data privacy staff to keep up with the complexity and constant changes within the privacy landscape. BigID.me is an affordable and easy-to-use solution for organizations that don’t have dedicated offices to meet data privacy and protection regulations — but understand the importance of satisfying regulatory demands to enhance customer trust and brand reputation.
BigID.me offers a simplified way to meet compliance while automating critical activities like data rights, consent, and cookie management.
Start building trust today with BigID.me — privacy for the people.