The EU’s General Data Protection Regulation (GDPR) affects every global business that touches an EU resident’s data. And hint: your challenge is a whole lot more than just compliance.
New GDPR consumer study
Largest ever GDPR consumer research study reveals that a majority of E.U. residents plan to act upon their new GDPR data access and erasure rights.
The clock is ticking
Whether you like it or not, the GDPR is imminent and will go into effect May 25th, 2018. This has many businesses now rushing to devise a strategy. And not all strategies are created equal.
What’s the big deal?
- You will need to establish processes to disclose information to any EU resident you do business with, informing them whether personal data concerning them is being processed, where, and for what purpose.
- Any EU resident can request a copy of their personal data free of charge, or even demand that you erase all their personal data.
- You could even be challenged to explain your business’ automated decisions, and much, much more.
To take on the GDPR, you will need a system to manage the systems.
Your customer data is everywhere. And in just weeks, you will be required to assemble and administer it on-demand for your customers – all while maintaining an iron clad audit trail.
GDPR is about end-to-end orchestration, governance, dynamic processes, and auditability. To this end, the question isn’t whether you will have a system to handle GDPR. It’s whether you have a system to manage the systems - you’ll need to handle the GDPR.
Pega can help your business fast-track GDPR compliance with industry-leading dynamic case management, and the ability to document, automate and audit each of the GDPR’s articles from end-to-end.
And about getting those old systems to work within your new automated processes? Not to worry. Your Pega solution for GDPR includes unlimited Robotic Automation to help you connect and automate with ease. No API’s required.
Achieve GDPR risk-readiness, and revenue-readiness --- in a single solution.
The GDPR’s blind spot? It’s your revenue. Beginning May 2018, as customers exercise their GDPR right to erasure, your business will experience a new found data deficit and there will be a direct impact to your bottom line.
For many of your most important customers, the very data that has fueled your customer insight teams, allowing them to predict and optimize customer lifetime value (CLV), retention, cross-sell and more… is about to slip away. Along with it, your current levels of insight effectiveness.
A new strategy will be required. If you plan your strategy right, you can close all of these gaps with the very same budget.
GDPR & automated decision-making
Many businesses will be directly impacted by GDPR’s articles pertaining to automated decision-making (including articles 13, 14, 15, and 22). The financial services, healthcare, and insurance industries will feel it most.
The key is transparency. Many businesses will be on the hook to explain and share meaningful information about the logic involved in making those automated decisions. For this reason, any business that relies on “black box” or opaque analytic techniques such as deep learning may be forced to shut them off.
Hear more about Pega’s innovative “T Switch” by watching Dr. Rob Walker’s PegaWorld 2017 Keynote:
PegaWorld 2017: AI in Customer Engagement - Balancing Risk and Reward | 32:52
Don’t miss the big picture. Is this your golden opportunity?
Don’t mistake this moment. The brands that will win are the ones that view GDPR as a golden opportunity rather than a pesky compliance issue. Your budget is being set to fund the key infrastructure you will need to support GDPR, and if you set the requirements right, this very same infrastructure can underpin your business’ future and drive greater revenue.
Of course, you’ll need to work with the right partner. Find out how Pega can empower your business for GDPR success.