What Is the Objective of Consent Management? Why Is It Important – More users are becoming aware of how their data is being used – and there is more of a focus on ensuring businesses are compliant with regulations. As a result, many businesses are being fined due to non-compliance.
More users are becoming aware of how their data is being used – and there is more of a focus on ensuring businesses are compliant with regulations. As a result, many businesses are being fined due to non-compliance.
Consent management is something that all users and online business owners should be aware of. But what exactly is consent management, and why is it important?
That’s what we’ll be exploring today. Continue reading this blog to learn more about consent management and the key objectives of consent management. In this blog, we’ll also be discussing why consent management is so important for businesses and users.
An Introduction To Consent Management
Consent management is a process that gives customers the right to determine what data they share with organizations. It is the responsibility of the business to collect and manage customer data whilst adhering to regulatory requirements and personal data standards.
If your company processes data such as names, email addresses, cookie data or IP addresses, you should consider consent management. Likewise, if you collect user data for personalization or analytics, or if you buy, share or sell customer data, you need to use consent management.
Consent management processes allow you to log and track consent collection, which can ultimately prevent you from being in breach of compliance.
Key Objective of Consent Management Platforms
A consent management platform is a must if you deal with customer data. It allows you to request user consent efficiently, and enforce the preferences of the user throughout your data systems and report quickly should you be audited.
Ultimately, a consent management platform can ensure that you are compliant with data privacy regulations such as GDPR and CCPA, and can help to build respect with customers.
A consent management platform (CMP) is a type of software that simplifies the process; making it much easier to comply with cookie consent, and protect you from being fined for non-compliance.
Why is Consent Management Important?
Consent management is hugely important – all businesses and website owners should be aware of the importance of consent management.
Consent management is important for your customer’s peace of mind, and is important in order to build trust. Non-compliance can also result in fines.
Customers are beginning to take note of how their data is being collected, tracked and used. Companies can be completely destroyed by fines; some fines can be up to £20 million, or 4% of the company’s annual global turnover. A well-known telecommunications operator was fined £16.7 million because they ignored data protection laws. They used customers’ personal data without being given consent.
However, if you obey the consent management regulations, you can avoid these hefty fines. A quality consent management platform can ensure you are compliant.
Not taking consent management seriously can also have a huge impact on your brand reputation. Consumers may be less likely to visit your website or purchase goods or services from you if you have a reputation for illegally using customer data. However, being known for being compliant can improve your reputation and help you maintain consumer loyalty.