If the GDPR does not apply to your company, you can still benefit from implementing a solution for transparency, notice and consent around consumer data handling. A best practices privacy rights management system provides other advantages. For one, it gives you an opportunity to build a competitive advantage as an organization that deserves consumer trust. As another, it puts you a step ahead if (more likely, when) regulations are enacted that do apply to you.
Data Privacy and Trust Are Universal
A company’s willingness to take these extra steps will build trust with their consumer base and set them apart from the competition that may be taking a wait-and-see approach. Complying out of duress will be a potential detriment for businesses trying to build a relationship of trust with customers.
Privacy Laws Are Changing Everywhere
The GDPR is currently the most wide-ranging privacy regulation put into practice to date, but it will not be the last. Already, legislation resembling GDPR is being introduced and adopted in Canada, Japan, Australia, and South Korea. Similar legislation is also being introduced in the U.S. at both the state and federal levels. It is only a matter of time before the demands of privacy expand beyond the limits of the EU, and for companies that have already developed the operational and technical infrastructure, those changes will be much easier to accommodate.