The new EU legislation, the General Data Protection Regulation – or GDPR – came into effect in May 2018, and places strict rules on how businesses collect, store and manage personal data for EU citizens, regardless of the location of the company. Given that it’s been a legal requirement for over a year now, your organisation should already be familiar with it, and the difficulties it poses. And it’s incredibly important to comply; failure to do means your company can be fined up to €20 million, or 4% of your global turnover. Not a cheap mistake to make!
The good news is that the right CRM system – such as Passenger 365 – can make complying with the GDPR far easier to achieve. We’ll now look at three of the many ways that a CRM system like this can help you on your way to compliance.
Secure data storage
One of the main points of GDPR is that customer data must be securely stored and managed so that it doesn’t fall into the wrong hands. A good-quality CRM is your secret weapon here. Their very purpose is to store such data, so a well-secured system is the perfect solution. Data should be stored in the cloud, rather than vulnerable servers in the office, and daily backups ensures no data is lost due to error.
Restricted access to sensitive data
Much of customers’ data you hold won’t be particularly sensitive. Basic information such as names, addresses and phone numbers can be viewable to all employees within your company.
However, you’re also likely to hold more sensitive data such as financial information. This must be treated more carefully – only staff with the appropriate security clearance should have access to it. The CRM system you choose should allow each user to be assigned an appropriate level of security clearance, so that they can view what they need to, without compromising more private information.
Management of customer preferences
Under GDPR, individuals must have given their consent for their data to be stored. They also have the right to retract or amend this at any time.
The more data you hold on a customer in your CRM system, the more you’ll be able to target email campaigns to them – a great tool for you. Customers have the right to opt out of such email campaigns that they receive from you, quickly and easily, so it’s important that your CRM system allows such preferences to be updated quickly. If an individual requests it, they also have the right to be forgotten entirely. In this case, all data you hold them must be deleted, which should be easily achieved on your system.
Gone are the days where an unsecured spreadsheet or paper records would suffice. Now that GDPR is a requirement, a CRM system is more valuable than ever. And making the switch to CRM benefits your team and your company in so many other ways, too.
Keeping information securely isn’t just about meeting legal requirements either. It’s about customer trust. It has been found that security comes second only to quality when customers are making purchase decisions. And 75% of consumers wouldn’t buy from a company that they didn’t trust with their data, no matter the quality. In this digital age of information-sharing, customer confidence has never been more important. They need to trust you; trust us.