Trust is one of the most important commodities for any business. Customers want to have absolute confidence in a company that they will be treated fairly and that promises will be kept. Today, a company can gain or lose trust with its clients depending on how it handles its data.
Thanks to eCommerce, companies have access to a wealth of information about their customers, and they need to demonstrate that they are responsible for that data. That means you should be able to handle a Data Subject Access Request (DSAR). Read on to learn more.
Under the European Union’s General Data Protection Regulation (GPDR) and the California Consumer Privacy Act (CCPA), individuals have the right to request any personal data that an organization may have collected on them. This may include details about the person as well as how that information has been utilized by the company and who has had access to it.
Without a strong protocol in place for processing DSARs, your company could easily become bogged down with the demands they place on you. Worse, you may inadvertently give too much information and put yourself at risk for a host of problems. Here are three key elements that can prepare your business for DSARs:
Combing through all your records to find every piece of information about a specific person by hand is a tremendous time sink. Having automated processes in place to recall data reduces the burden on your employees and speeds up the process to a considerable degree.
Whatever technology can’t accomplish, your team must be ready to perform. This is why it’s critical to create a workflow for fulfilling DSARs, so everyone understands his or her role in the process. This will ensure your organization can handle requests as effectively and efficiently as possible.
It isn’t enough to create a procedure for processing DSARs. You need to make sure every employee involved knows the process as thoroughly as possible. They should be fully trained and educated on all the elements of your plan. Thus, they can deliver the smoothest and most efficient execution.
Trust can be difficult to earn and easy to lose. Make certain your company doesn’t lose the trust of your customers when it comes to fulfilling DSARs, with this advice. It could mean the difference between success and failure.
DFIN is the leading provider of innovative, expert-supported financial software solutions. They deliver accelerated regulatory reporting, deal-making, and AI contract analytics review. DFIN leverages the leading cloud-based tools powering every stage of the investment lifecycle.
