Knowing the geographical location of contact data records is crucial for compliance with the over 100 different Data Protection laws currently in force around the globe. While Europe’s General Data Protection Regulation (GDPR) goes into effect May 25, 2018, many other international Data Protection rules and regulations already govern the collection, management and use of customer data, including Canada’s PIPEDA, Australia’s NDB, and Japan’s APPI. Meanwhile, in the US, both California and New York have already passed data protection laws, with more states likely to enact their own rules in the near future. Unfortunately, the consequences of noncompliance are significant, including costly fines and other penalties.
To help achieve compliance, Service Objects recently released Country Detective, a new service which enables businesses to correct or append country of origin information to existing contact records. Companies can try out the service by requesting a free Global Data Assessment. With more accurate information on the geographic location of clients and prospects, companies can adapt their processes and protocols to satisfy current and future Data Privacy laws.
Knowing the location of customers and prospects is key to compliance
Because these regulations vary across different industries and regions, knowing the geographical location of contact records in a database is the first step to compliance. Many organizations maintain large databases full of incomplete contact records. Without a solid understanding of where customers and prospects are located, businesses risk running afoul of global Data Protection laws.
Contact data is also constantly changing, making accuracy particularly challenging. For example, Convince & Convert reports up to 34% of Americans will create a new address within the next year. According to USPS, mail determined to be “undeliverable as addressed” costs the Postal Service about $1.5 billion per year.
US businesses already lose more than $3.1 trillion every year due to bad contact data, and the newest slate of global data protection laws will only add another layer of expense. That’s why it remains critical that companies maintain up-to-date contact records.
“Contact information ages incredibly fast, and it remains critical that organizations take a proactive approach to data management,” says Geoff Grow, CEO, Service Objects.
Contact data quality is key to reducing liability
Service Objects’ Country Detective service is designed to help businesses comply with Data Protection laws around the globe. The service will append and correct the country in each contact record and evaluate other data points to deliver an overall quality score. The free Global Data assessment is intended as an introduction to Country Detective by allowing organizations to identify and, if necessary, correct the country information for their contact records. To get started, businesses can securely send a list of 500 contact records and results will be delivered within 1-2 business days.
“We know that many US organizations have a large percentage of customer records that are currently missing country data, which is the first step to achieve compliance with data protection laws,” says Grow. “Our Country Detective service will give businesses the information they need to determine which of their contact records have the greatest liability.”