5 Key Insights into GDPR with Managing Partner of D-Fence

In the picture, you can see Juha Oravala, the managing partner at D-Fence
In the picture, you can see Juha Oravala, the managing partner at D-Fence.

D-Fence is a Finnish company. It provides companies of both small and medium-size support services in making sure their company is GDPR compliant. Many companies are facing problems with becoming GDPR compliant. Good news is, that by using the services of a company like D-Fence they can avoid problems and fines in the future.

In order to take a closer look at the new GDPR law made by the European Union, we asked Juha Oravala, managing partner at D-Fence for an interview. In this interview, we will present some key questions about the General Data Protection Act. (GDPR)

  1. “What is in your opinion the most important aspect of the new GDPR law?”

– Juha Oravala: “Increased safety of all registrants i.e. people in the European Union. Including companies and protecting all, private person or whatever entity. On the other hand, many organizations, small business especially think it costs a lot of extra work for them. At least here in Finland, a lot of companies think GDPR is denying work or restricting it. This is due to a lack of information. This causes confusion and miscommunication and miscalculation, that’s the bad side to it.”

  1. “Are you confident that businesses will be willing and able to comply with this regulation?”

– Juha Oravala: “Yes, I am, there is no other choice. I believe the demand doesn’t come from fines. It comes from the clients and partners. Such as having a wide range of network might help you get to a pool of right consumers for your product or service.”

  1. “What tools does your company utilize to help make customers GDPR compliant?”

– Juha Oravala: “We have an easy GDPR service to take control of all the GDPR requirements easily. Everything is already done, templates already filled in. So, all they have to do is walk through the data flow. There is a customer register they open it and there are clear instructions for them. First, they simply get to understand the regulation or ACT, you can’t follow if you don’t understand. Through our service they easily understand what’s it about, fill the required information if not filled earlier and it’s that easy. That’s why it’s called easy GDPR cause it’s easy. It doesn’t take a lot of time and easy to keep up with the requirements.

One of the reasons why it’s popular is because it is easy to use. E.g. we got 500 clients this Spring itself. We also offer expert support other than GDPR, assistance to questions such as what should they do for marketing campaigns and so on. The price depends on the company. 

  1. “Does the GDPR affect companies differently in different EU countries?”

– Juha Oravala: “ guess more or less its same, but does it affect the same way. Maybe there are national habits how you follow certain laws, some countries follow it very accurately, others less accurately, so it’s hard to say. I think it’s more like risk-management if you are an entrepreneur you will confront risk every day in business as well as on a larger scale. Why take more risks, since fewer risk results in better sleep.”

  1. “What challenges does GDPR present and what do you think the future will bring with these new regulations?”

– Juha Oravala: “It will escalate in long-term to the global policies regarding data security. The rest of the world looks upon Europe, we are an example for others. So, if all goes well the rest of the world will follow us. This would ensure safety and would benefit everyone, not the criminals but since there have been cyber threats and big amount of money has been lost to criminal acts, in long-term it is in everyone’s benefit. I think it will escalate and the rest of the world will follow us with a few exceptions of the tax paradise, those might not follow. However, there will be a lot of hassle going and when the first fine is given, rest of the companies would open their eyes and put everything together, there are always some that would do it only when it is really necessary.”

If you are interested to hear more about our international market research services please click here.

Competitors analysis for better company performance

black-and-white-sport-fight-boxer.jpg

Companies’ need competitors analysis. Today’s market is very volatile, nothing is constant anymore. Customers buy from you and tomorrow they change their mind and turn to your competitor. So, it is vital to fight for your customers. Business constantly needs to innovate how to keep them also not forgetting to attract the new ones.

There are very few virgin customers on the market, those that have never bought from you nor from your competitor. Their percentage is so minimal after all that they do not deserve so much attention, especially if your reputation speaks for your quality and is thus attract sufficiently new buyers. It is a huge mistake to disregard a huge amount of customers that could be yours. Yes, those that are buying from your competitor.

Businesses must stay original and keep on learning. It is vital to upkeep constant excellence in performance. And where best to learn than from the competitor?

If you will understand your competitors, you will better understand the customers that you don’t have. Knowing your competitor is key to understanding your customers and their behaviour – why do they buy from you? Why don’t they buy from you?

Best market strategies are to offence and defence. You need to surprise your competitors and overwhelm your customers.

What shall I look for?

First of all, understand the market size. Who are the most important players and how important they are to your customers? There are different kind of competitors: direct and indirect. Understanding both of them will unseal the market potential and will give you a sight of the whole market horizon.

Next things are the pricing, positioning and customer service of your competitors. All of these are important factors that deserve your attention.

So what are the tools to learn from a competitor?
  • Visit your competitor. Explore their store, visit the office, send them an email, call their customer service, act as their customer.
  • Talk to your customer. It is amazing how much your customers know more about your competitor than you do. Find out if your customers previously have used the services of your competitor and how did that go.
  • Take a look at social media and the internet. Read reviews, look at the new products and services launch, see their blogs and company press. There is so much information available online.
  • Follow up yearly the progress. Document the data and benchmark yourself to see yearly trends.

In conclusion, finding out the competitor’s strength and their weaknesses will definitely give you a new perspective. It will give you fresh ideas on how to develop yourself in the eyes of your customers. You will have tools to understand your market potential and customers deeper than ever before and re-evaluate your market position. In the end, this is the key for better business.

Katrium offers its customers a set of tools to perform a reliable competitor analysis on a yearly basis. Read more about our research services here.