Personal Data (the problems, the solutions and the opportunities)
- Over 70% of people in Europe have a distrust of how their data is currently being handled
- Increase your clients trust and loyalty in you
- Take this opportunity to differentiate from others
- Add Value to your balance sheet
In the private sector, it is well understood that increased trust and loyalty lead to a higher volume of sales over a longer period of time. Customers are more likely to keep returning for subsequent purchases. In businesses where the cost of switching provider is low, customer satisfaction is key to retaining customer business long enough to generate a good return on the cost of customer acquisition.
Better privacy protection could provide an organisation with the opportunity to differentiate itself from others. Customers prefer to deal with businesses they can trust as that reduces the ‘cost’, as they experience it, of the relationship they have with that business. Being willing to pay a premium for the offerings made by a trusted organisation is how a share of the value generated by that trust is returned to the organisation that generates it.
Seventy percent of people in Europe have a distrust of how their data is currently being handled so it is clear there are large advantages to be gained by businesses or organisation that can capitalise and gain a first class reputation for running data reserves with high integrity and adequate protection.
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As paper based documents have evolved into digital documents and paper based document management systems have evolved into digital document management systems, the security issues surrounding personal data protection have also evolved.
Each business sector has evolved on its own, at its own pace and with its own budgets. For example the insurance industries and the telecommunications industries document management systems have evolved in isolation from each other. Furthermore companies from the same industry have also evolved in isolation from each other, for example some insurance companies are at the cutting edge and invest heavily in data security while others in the same industry are lagging behind and reluctant to invest so heavily in data security.
The banking, insurance, credit, retail and utility sectors are a few examples of businesses that utilise and collect personal data and experience the problems and costs associated with keeping that data safe and secure.
The time has come to design a model that can protect personal data within and across all industries, to use the budgets and expertise that are at present being used in isolation, together and for the greater good of all. The Personal Data Protection Model has been designed with this in mind.
This site has been designed to register your interest in such a system with a view to commissioning the implementation throughout the UK, Europe and beyond.