Are Consent Management Platforms Only for Large Consumer-Focused Businesses?

Type: Blog
Topic: Preference Mgmt

No, consent management platforms (CMPs) are not exclusively reserved for large consumer-focused businesses. CMPs are suitable for any organization that handles personal data subjects covered under privacy laws— regardless of their size or focus.

Small- to medium-sized enterprises and B2B companies can all benefit from implementing CMPs to ensure transparency and compliance with legal standards. Businesses who partner with PossibleNOW will find a consent management solution that:

• Delivers customer-centric experiences
• Enhances customer engagement
• Boosts revenue over extended customer lifecycles
• Respects customer privacy across the organization
• Evolves along with the changing legal landscape

CMPs Mean Compliant Data Processing

Customer privacy interests must be in strict compliance with data protection regulations such as the GDPR (General Data Protection Regulation) and CCPA (California Consumer Privacy Act).

A consent management platform is designed to help organizations obtain user consent as it pertains to:

• Method of customer data collection
• Process and storage of customer data
• Frequency of communications and customer outreach
• Preferred communications channel
• Desired topic and content of messaging

Transparent, consent-seeking messages are conveyed in the form of banners and pop-ups, preference centers, and granular consent controls so that users may retain control over their personal data and how it is used.

Benefits of CMPs for Small- and Medium-Sized Organizations

With small- and medium-sized organizations facing pressure to comply with data protection regulations, consent management platforms are more important than ever. Here’s how a reliable CMP can help you navigate the complexities of data privacy with confidence.

• Compliance: CMPs help organizations comply with data protection regulations such as GDPR and CCPA by facilitating the collection, storage, and management of user consent.
• Trust and transparency: A reliable CMP helps build trust with customers and partners by demonstrating your company’s commitment to data privacy and providing transparent consent processes.
• Efficiency: Investing in consent management software helps streamline consent collection and management processes, saving time and resources for organizations with limited manpower and budgets.
• Customization: Most CMPs offer the flexibility to customize consent processes to align with the unique needs and preferences of your organization and user base.
• Scalability: A CMP also provides a scalable solution that can grow with an organization’s needs and adapt to evolving regulatory requirements over time.

How to Choose the Right Consent Management Software

Choosing the right consent management software is paramount, and businesses have wide-ranging options. Regardless of the industry-specific regulatory framework your company operates within, a robust CMP should have the ability to:

• Obtain explicit user consent for data collection and processing activities, offering transparency through easily accessible privacy notices.
• Provide users with control over their consent preferences through self-service preference centers.
• Facilitate the management and tracking of consent records for auditing and compliance.
• Ensure that user preferences are respected across various platforms, devices, and business units.

MyPreferences is PossibleNOW’s enterprise consent management software. MyPreferences offers virtually unlimited configuration capabilities based on unique use cases, local legislation requirements, and other factors. All consent data is stored in a central repository, providing easy access to relevant platforms across your business.

Unlock Transparency and Trust

By prioritizing transparency, user control, and compliance, organizations not only mitigate legal risks but also enhance their reputation and build stronger relationships with customers. When you’re ready to become compliant with myriad federal and state regulations regarding customer consent, we’re here to help. Reach out to our team at PossibleNOW today to schedule a consultation.