Data is a headache. Senior business people have a lot on their plate, they hardly need yet another problem. But that is exactly what data has become, a confusing, confounding problem that can no longer just be left to IT departments.
The Cambridge Analytica story has made this abundantly clear. Facebook’s share price has taken a kicking and it is losing users due to the #DeleteFacebook movement. The company’s operating model is now at risk. The issue has shown how a data scandal can seriously impact consumer trust and therefore profit.
It could, perhaps, be argued that this only applies to ‘digital’ businesses that are based on data. This view is wrong. Firstly, scandals like this are increasing consumer awareness about their data and, in turn, raising their expectations of how it should be protected and secured. Importantly, people are expecting to retain control of their data and to have the power to withdraw others’ access to it when they like.
This expectation is fair and, as a business leader, it is your responsibility to ensure it happens. Your customers must retain control of their data and you must be 100% confident that it is protected and secure.
For EU and UK businesses, this is not just a nice to have. The imminent General Data Protection Regulation (GDPR) demands that all businesses – no matter their size – ensure that the data they hold is secure, provided with clear consent from the individual (i.e. customer) and that this consent can be withdrawn at any time.
Right now, can your business tick all these boxes? Will it be able to do so come the 25th May?
The likely answer is no.
Is this a problem you are leaving to your IT department?
Hopefully, the answer is also no.
Non-compliant companies risk huge fines – either 4% of turnover or £20 million, whichever figure is larger. This risk is too big to be ignored by the boardroom.
The good news is that GDPR can be easily solved. At Galaxkey, we provide a full suite service which will make your business fully GDPR compliant in less than an hour. With us, your data becomes an asset – not a headache.
Our service is simple, easy-to-use and works on a one click basis, since we know that too many other data management services are too complicated. Already, we are trusted by government, as well as businesses that span law, healthcare, defence and more.
We do far more than encrypt, but strong encryption is at the heart of what we do. In fact, it’s so strong that Cambridge Analytica would be unable to break it.
So, get in touch if you are feeling stumped by data. Have a look at our website or call us on +44 (0) 333 150 6660 – because data is too big to be ignored.