Data is a company’s strongest asset. It gives valuable insight into your customer base. It also needs careful management and most importantly, it needs to be secure.
GDPR legislation surrounding data collection and holding means an obligation on companies to be clear and transparent about how they use our data. The result has meant considerable effort to implement GDPR requirements across industries, including membership organisations, charities, and the financial services sector.
So, you will already be protecting your data through a comprehensive GDPR compliance strategy. But there are also obligations to ensure that your print and mail providers maintain and process your data meet the legal requirements too. It’s up to companies to audit suppliers, check their policies and processes, and use accredited providers.
That’s why in this blog, we’re looking at the importance of data security for your print and mail campaigns. Fines have been on the increase since 2020, and the consequences of a data breach can be far-reaching.
GDPR fines are on the increase
In 2021 the UK had the fourth-highest total for GDPR fines behind Italy, Germany and France.
Since 2020 there has been an increase in GDPR fines in the UK. Fines can be measured against a company’s global turnover which can result in huge penalties. According to DLA Piper, in the year January 2020 to January 2021 fines rose by nearly 40%. Last year the UK had the fourth-highest total for GDPR fines behind Italy, Germany and France. Personal liability also means that individuals can be prosecuted for misuse of data.
The importance of print and mail data security
Aside from the hefty fines, there are other serious consequences to data breaches that are often overlooked.
These include damage to brand reputation, which in turn affects customer relationships, and impacts company revenue. Any data breach which causes a company’s website to crash impacts sales and their reputation for reliability. While bid and tender applications are put at risk, where admitting to a data breach can spell the end for a submission’s success.
All of these could impact the commercial growth of your organisation:
- Damage to brand or reputation Consider your brand reputation and value – imagine how a personal data breach would impact your relationship with existing or prospective customers.
- Commercial growth Many bids and tenders contain a question regarding reportable breaches suffered during recent years. Answering ‘Yes’ to these questions usually marks the end of your bid or tender submission, so consider the impact to your business growth if you were to suffer a breach.
- Personal liability Over recent months, individuals have been personally prosecuted for misuse of personal data so make sure you are aware of what you are (and aren’t) allowed to do with the personal data you hold.
- Lost revenue If your site crashes due to a security breach you will lose revenue while it is down, and while the breach is remedied. The longer the site is down the more sale you could lose (as well as reputation above).
- Intellectual Property If a hacker was to obtain your new product ideas or plans it could damage your business growth, if someone else goes to market first. Protect your IP.
Optimise data through processing, cleansing and management
Clean, accurate data creates business advantage, and is a positive impact of GDPR. Plus, it offers opportunities for the retention and strengthening of relationships between a company and its client base.
Print and mail providers optimise files through data processing, cleansing and management. This will enable you to maximise marketing campaigns and make targeted business decisions, with improved response rates and ROI.
Insights into customer preferences and behaviour lead to better communications. This builds a deeper connection and improved response rate from a receptive client base who are happy to hear from you.
Select a print & mail partner that has a clear data policy which states in simple terms how they protect their customers’ information. This signals a provider understands your concerns, and takes them seriously, moving the relationship beyond transactional to one of trust. A data breach can scupper this trust in an instant.
Choose a certified supplier for peace of mind
At KPM your customer files and mailing list data are safe with us. We are ISO 27001 and Cyber Essentials certified; ICO registered and QG GDPR Management Standard accredited.
Our expert team prepare and maintain data to the highest level of accuracy. This reduces costs for you by maximising your budget and ROI, and ensures your message reaches a targeted audience at scale.
Our data management services include:
- Data capture
- Data cleansing, including duplicates, deceased and ‘gone aways’
- Address validating
- Data quality evaluating
- Mail sorting
- Customer segmentation
KPM also offer a range of anti-fraud secure print solutions. These are especially relevant for financial services businesses. Vulnerable print documents such as invoices, identification and statements can be a gateway to valuable information for fraudsters.
We employ a range of processes to make print documents impenetrable. This not only protects documents but limits risk for your company and prevents the reputational damage that inevitably costs clients.
Read more about how KPM’s secure printing service can help your business mitigate print fraud.
Book a Free Data Health Check
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