5 Key Insights into GDPR, an interview with Juha Oravala, Managing Partner of D-fence

D-Fence is a Finnish company that provides companies of both small and medium size support services in making sure their company is GDPR complaint. Many companies are facing problems with becoming GDPR compliant, 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 and asked him 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 organisations, small business especially think it costs a lot of extra work for them, if not handled cleverly and agile. At least here in Finland, a lot of companies think GDPR is denying work or restricting it, this is due to the 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 but 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 and cost-effectively. Everything is already done, templates already filled in, all they have to do is walkthrough 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, 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, 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 so for a company with 50 employees it would cost 1,200€/year while company with 200 employees would cost 2,500€/year, relatively a small price for the services you get.”

 

  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 everyday in business as well as on a larger scale. Why take more risks, since less 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, since data is the new oil and is very important. 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 its 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, in short-term, 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 companies that would do it only when it is really necessary.”

 

We would like to thank D-Fence for the interview, please visit https://www.d-fence.fi for more information.

 

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Let your competitor show you how to perform better

 

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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. It is vital to fight for your customers and a 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 you 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, keep on learning and 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 customers that you do not have. Knowing your competitor is a key to understanding your customers and their behaviour – why do they buy from you; and as importantly; why don’t they buy from you.

Best market strategies are to offence and defence – 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 important factors that deserve your attention.

So what are the tools to learn from competitor?

  • Visit your competitor – go and explore their store, visit the office, send them an email, call their customer service, act as their customer
  • Talk to your customers – 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 in the social media and 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

Finding out the competitor’s strength and their weaknesses will definitely give you a new perspective. It will give you fresh ideas how to develop yourself in the eyes of your customers, it will give you tools to understand your market potential and customers deeper than ever before and re-evaluate your market position because in the end – it’s a key for better business.

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