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With ready access to information online, customers expect more transparency and responsiveness from the custodians of their data. That’s why in today’s digital economy, businesses are looking to unlock value from the data in real-time and in ways that can delight their customers and establish trust at the same time. However, to deliver digital at scale it is not only imperative that the GDPR compliance is at the core of their data, product and services strategy but is mandatory, in order to seize the competitive advantage.
While minimum GDPR standards cover EU citizens (customers and employees) and must be demonstrably in place by May 25, 2018, the journey does not end there. Past this deadline, regulators will look for a consistent methodology for analysing data security risk.
Through a comprehensive GDPR implementation plan supported by appropriate tools and technologies, businesses can improve their chances of adhering to the compliance. GDPR, approached in the right way, can enable organisations to thrive in a digital economy—and deliver a superior customer experience.
Achieving full GDPR-compliance implies updating your data governance, consent and data management. This in turn will lead to improved customer satisfaction.
As businesses embark on digital transformation and leverage sensitive data to improve or create new services, they must also be accountable for governing and protecting this data. GDPR presents a unique opportunity to build trust and to drive the digital revolution.
Cognizant’s approach to GDPR, called GDPR+, recognises the level of complexity that the regulation itself presents and offers pragmatic solutions. Our approach is founded on four critical areas of focus: Personal Data, People, Process and Technology. Depending where you are on your GDPR journey, we offer end-to-end GDPR solutions as well as bespoke ones to suit your business requirements.
Using GDPR+, you can transform today’s GDPR investment into real business value in key digital technologies, including consent data sharing, enhanced customer views, profiling, AI and analytics.
With deadlines rapidly approaching, Cognizant’s GDPR Compliance Solution Suite of services helps organisations to:
In addition to offering a Privacy Impact Assessment, our GDPR Compliance Solution Suite delivers value across six key areas needed for meeting the new regulatory requirements quickly. It turns your investment in GDPR into business value in areas such as consent data sharing, enhanced 360° customer views, profiling, analytics and AI.
Cognizant’s GDPR Enterprise Dashboards provide management with a real-time window into various levels and types of compliance issues, including breach notifications to your Data Protection Officer (DPO) and the Data Governance Council. These issues include:
GDPR will have a significant impact on the banking and financial services—but it can’t be seen in isolation.READ MORE
Engage business and IT leadership to address the enterprise wide challenges that GDPR presents. As business and transformation leader, Cognizant is ideally placed to assist clients in meeting the challenges across the commercial and public sector.READ MORE
Based in the Netherlands, Unit4, a leading provider of enterprise applications for professional services was looking for increased trust and improved reputation through demonstrated GDPR compliance. With annual revenue of close to €600 million and more than 4,000 employees worldwide, the company delivers ERP, industry-focused and best-in-class applications.
Unit4’s management wanted to improve their understanding of the customer and employee personal data they were holding; how it was being processed; and how their software products could better support their own customers in their GDPR journeys. To this end, they wanted to evaluate gaps in their GDPR readiness and determine how to become GDPR compliant.
Cognizant, along with one of our strategic partners, was asked to propose a way to support and guide Unit4 through all steps of the GDPR process.
To satisfy these requirements, we built a continuous framework to support GDPR. Cognizant first established a business-wide GDPR awareness program. Following this, we created a Data Protection Officer organization, re-engineered the product development process and implemented required business changes.
the change managed process (cultural, process and technology) around data governance and Data Protection Organisation
data and process quality challenges such as Data Subject Rights and Requests handling, Data Breach Notification procedures and Privacy Impact Assessments (PIAs)
services, customer centricity and return on investment
What’s the optimum balance between monetising customer data and protecting privacy? To find out, Cognizant partnered with Harvard Business Review Analytic Services to survey companies around the world about the importance of data privacy in their business. Among the findings: Organisations that focus too narrowly on the task of compliance miss the larger picture of the digital future now approaching.VIEW PDF
In their pursuit of a digital approach to business, organisations are opening themselves up to greater cybersecurity risks – and yet few have elevated security to a senior leadership concern, according to our recent research. Here’s what businesses are thinking about cybersecurity, and how they can strengthen their strategies to minimize the revenue and reputational losses of a breach.VIEW PDF
GDPR is one of the most complex pieces of legislation written in recent times, and it’s important you get it right with deadlines fast approaching. In a three-webinar series, Cloudera, Informatica and Cognizant each take a slightly different approach on the challenges and opportunities ahead.REGISTER TO VIEW RECENT WEBINARS