What is GDPR, and how does it affect B2B databases?
What is GDPR, and how does it affect B2B databases?
Blog Article
General Data Protection Regulation, or simply GDPR, is an overarching data protection law enacted by the European Union in May 2018. It aims at protecting the personal data of all European Union citizens. The regulation affects the way organizations conduct their businesses, especially for companies targeting the B2B sector. Understanding how GDPR and its requirements in B2B databases impact compliance and customer trust is key.
Understanding GDPR
What Does GDPR Cover?
The GDPR legal framework controls how personal information is collected, processed, stored, and shared. The General Data Protection Regulation applies to all organizations operating with the personal information of EU residents, wherever the organization is based. Key features in this include:
Consent: Consent of people for processing personal data should be gained explicitly and clearly.
Data Access:
Individuals have the right of access to their data and also the right to request corrections or deletions.
Data Portability: Individuals can B2B Database transfer their data to another service provider.
Breach Notification: Organizations will need to notify authorities of a breach, as well as the individuals affected, within 72 hours.
Who Does GDPR Affect?
While GDPR focuses on consumer data, the new regulation has a significant effect on B2B databases. Any B2B organization that accesses or processes personal data of individuals in the EU must comply with the norms of GDPR.
Impact of GDPR on B2B Databases
1. Data Collection
Every business-to-business company should align their data collection into new standards regulated by the GDPR. For instance, explicit consent means that one can no longer simply ask contacts to subscribe to a database. Companies must establish transparent data collection processes where one knows what his or her data is being used for.
2. Data Minimization
GDPR stresses data minimization, whereby businesses should collect data on a need-to-know basis for specified purposes. The B2B companies should review their databases to get rid of the factors which are not essential to them, and would lower the risk of being considered non-compliant.