By May 25, 2018, all companies that deal with EU-member data must comply with the new GDPR regulations. To prepare, businesses need to change how they acquire and store data on prospects and customers. Centralizing your customers’ personal data will help your business comply.
In general, the consequences of GDPR are broader in scope than other privacy laws in the US. Its regulations are designed to protect consumers, who can request the erasure, extraction, or transfer of their data to another service provider at any time. As the costs of non-compliance are high, keeping a detailed record of where your data reside, how it is used, and by whom, is imperative to mitigate risk.
A centralized data warehouse, connected to your applications housing customer data, can play a key role in your GDPR compliance strategy. This ensures all customer records are available through a trusted, centralized resource, while also allowing the individual SaaS applications to continue to perform their important business functions.