SAP Customer Data Cloud solutions from Gigya is the industry’s only solution based on a consent-based data model. The solution helps businesses nurture trusted relationships with customers by providing them more transparency and control over the use of their personal data.   Patrick Salyer, General Manager of SAP Customer Data Cloud, previously the CEO of Gigya discusses how one of the overlooked goals that shows the true value of GDPR preparation is earning the consumer’s trust. It’s a lesson learned from another regulatory watershed moment: Sarbanes Oxley (SOX) and the banking crisis of 2002.   Patrick argues that we’re currently in a Sarbanes-Oxley moment, but people just aren’t thinking about it yet. Consider the similarities:

• Both protections seek to enhance transparency as a means to curb poor business practices and build trust
• Both are “regional” regulations that have global consequences  
• Both regulations created a need for holistic solutions that span the entire organization
• Like the reaction to SOX, many companies are using GDPR compliance initiatives as an opportunity to gain a competitive advantage

The past offers insight into how businesses should react to GDPR: directly address the trigger point of waning customer trust to comply with new regulations and take your business to the next level.