Business

Marketing Best Practices for Data Protection under the Popi Act

In today’s digital age, data is the key to effective marketing strategies. Marketers rely on customer information to tailor personalised experiences, deliver targeted campaigns, and drive business growth.

However, with the growing concerns surrounding data privacy and security, it has become paramount for marketers to understand and adhere to regulations that protect individuals’ personal information.

One such regulation that holds significant implications for marketers is the Protection of Personal Information Act (Popi Act). Implemented to safeguard the privacy rights of individuals, the Popi Act sets clear guidelines for the collection, processing, and storage of personal data.

As marketing activities involve extensive data handling, it is crucial for businesses to adopt best practices that align with the Popi Act’s requirements to ensure data protection and maintain consumer trust.

In this article, we will explore the marketing best practices for data protection under the Popi Act. We will delve into the key considerations that marketers need to address to comply with the Act’s provisions and protect the personal information they handle.

Keep reading to ensure that your business does not get caught out by data protection concerns!

Understanding the Popi Act and Its Implications for Marketing

The Protection of Personal Information Act (Popi Act) is a critical legislation enacted to safeguard the privacy and protection of individuals’ personal information.

To ensure compliance with the Popi Act, marketers need to have a comprehensive understanding of its provisions and implications for their marketing activities.

The Popi Act is based on the fundamental principles of responsible information processing, which include the lawful and fair processing of personal information, purpose limitation, data minimisation, and accountability. These principles shape how marketers collect, use, store, and share personal data.

In the context of marketing, the Popi Act has far-reaching implications. It applies to various marketing practices, such as customer profiling, direct marketing, data analytics, and targeted advertising.

Marketers must ensure that their activities align with the Act’s requirements to protect individuals’ personal information while delivering effective marketing campaigns.

One key aspect of the Popi Act is the requirement for obtaining valid and informed consent. Marketers must seek explicit consent from individuals before processing their personal information for marketing purposes. This consent should be freely given, specific, and based on clear and accessible information provided to the data subjects.

Moreover, the Act emphasises the importance of transparency and accountability in marketing practices. Marketers must inform individuals about the purpose for which their data is being collected, as well as any third parties with whom the data may be shared.

Clear privacy notices, which outline the rights of individuals and provide information on how they can exercise those rights, should be prominently displayed.

Another crucial aspect of the Popi Act is data security. Marketers are responsible for implementing appropriate security measures to protect personal information from unauthorised access, loss, or destruction.

This involves implementing technical and organisational measures to safeguard data, conducting regular risk assessments, and ensuring secure data storage and transmission.

The Risks of Non-compliance

Non-compliance with the Popi Act can have severe consequences for businesses, including fines, reputational damage, and loss of customer trust. Therefore, marketers must prioritise compliance with the Act’s provisions to avoid these potential pitfalls and maintain the integrity of their marketing activities.

Safeguarding Personal Information

Data security is a fundamental aspect of the Popi Act and plays a vital role in ensuring the privacy and protection of individuals’ personal information.

Marketers must prioritise robust data security measures to comply with the Act’s requirements and safeguard the personal information they collect, process, and store.

The Popi Act mandates that businesses implement appropriate technical and organisational measures to prevent the unauthorised access, loss, or destruction of personal information.

By establishing strong data security practices, marketers can mitigate the risk of data breaches, protect sensitive customer data, and uphold the trust of their audience.

To effectively protect personal information within marketing databases, marketers should adhere to the following best practices:

Data Classification: Classify personal information based on its sensitivity and importance. Categorise data as public, internal, confidential, or restricted, and apply appropriate security measures based on these classifications.
Encryption: Use encryption techniques to protect personal information both in transit and at rest. Encrypt sensitive data such as customer names, contact details, and financial information to ensure it remains unreadable and unusable to unauthorised individuals.
Access Controls: Implement strong access controls to restrict data access to authorised personnel only. Use role-based access control (RBAC) mechanisms to grant specific permissions based on job roles and responsibilities. Regularly review and update user access privileges to align with changing roles and organisational needs.
Password Management: Enforce robust password policies, such as requiring strong passwords, regular password changes, and multi-factor authentication. Educate employees about the importance of strong passwords and the risks associated with password reuse or sharing.
Data Minimisation: Limit the collection and retention of personal information to what is necessary for legitimate marketing purposes. Avoid storing excessive or unnecessary personal data, reducing the risk of data breaches and potential impact on individuals if a breach occurs.
Employee Training: Conduct regular data security training for all employees involved in marketing activities. Educate them about their responsibilities, the importance of data protection, and potential risks associated with mishandling personal information. Foster a culture of data security throughout the organisation.

Encryption, Access Controls, and Other Security Measures

Encryption is a crucial security measure that converts personal information into an unreadable format, ensuring its confidentiality and integrity.

Marketers should employ strong encryption algorithms, such as AES (Advanced Encryption Standard), to protect personal data during storage and transmission. Encryption should cover all sensitive data, including customer profiles, transaction records, and any other personally identifiable information (PII).

Access controls play a pivotal role in maintaining the confidentiality and privacy of personal information. Implementing stringent access controls ensures that only authorised individuals can access and process sensitive data.

This involves assigning unique user credentials, implementing multi-factor authentication, and regularly reviewing access privileges to align with changing business requirements.

In addition to encryption and access controls, marketers should implement other security measures, such as:

Regular security audits and vulnerability assessments to identify and address potential weaknesses in the infrastructure.
Network segmentation to limit access to personal information based on user roles and responsibilities.
Intrusion detection and prevention systems to monitor and mitigate unauthorised access attempts.
Secure data disposal practices, including permanent deletion or anonymization of personal information when no longer required.

Business

PepsiCo Reduces Revenue Projections As North American Snacks And Key International Markets Underperform.

(VOR News) – In the third quarter of this year, Pepsi’s net income was $2.93 billion, which is equivalent to $2.13 per share. This was attributed to the company.

This is in stark contrast to net income of $3.09 billion, which is equivalent to $2.24 per share, during the same period in the previous year. The company’s earnings per share were $2.31 when expenses were excluded.

Net sales decreased by 0.6%, totaling $23.32 billion. Organic sales increased by 1.3% during the quarter when the effects of acquisitions, divestitures, and currency changes are excluded.

Pepsi’s beverage sales fell this quarter.

The most recent report indicates that the beverage and food sectors of the organization experienced a 2% decline in volume. Consumers of all income levels are demonstrating a change in their purchasing habits, as indicated by CEOs’ statements from the previous quarter.

Pepsi’s entire volume was adversely affected by the lackluster demand they encountered in North America. An increasing number of Americans are becoming more frugal, reducing the number of snacks they ingest, and reducing the number of times they purchase at convenience stores.

Furthermore, Laguarta observed that the increase in sales was partially attributed to the election that occurred in Mexico during the month of June.

The most significant decrease in volume was experienced by Quaker Foods North America, which was 13%. In December, the company announced its initial recall in response to a potential salmonella infection.

Due to the probability of an illness, the recall was extended in January. Pepsi officially closed a plant that was implicated in the recalls in June, despite the fact that manufacturing had already been halted.

Jamie Caulfield, the Chief Financial Officer of Pepsi and Laguarta, has indicated that the recalls are beginning to have a lessening effect.

Frito-Lay experienced a 1.5% decline in volume in North America. The company has been striving to improve the value it offers to consumers and the accessibility of its snack line, which includes SunChips, Cheetos, and Stacy’s pita chips, in the retail establishments where it is sold.

Despite the fact that the category as a whole has slowed down in comparison to the results of previous years, the level of activity within the division is progressively increasing.

Pepsi executives issued a statement in which they stated that “Salty and savory snacks have underperformed year-to-date after outperforming packaged food categories in previous years.”

Pepsi will spend more on Doritos and Tostitos in the fall and winter before football season.

The company is currently promoting incentive packets for Tostitos and Ruffles, which contain twenty percent more chips than the standard package.

Pepsi is expanding its product line in order to more effectively target individuals who are health-conscious. The business announced its intention to acquire Siete Foods for a total of $1.2 billion approximately one week ago. The restaurant serves Mexican-American cuisine, which is typically modified to meet the dietary needs of a diverse clientele.

The beverage segment of Pepsi in North America experienced a three percent decrease in volume. Despite the fact that the demand for energy drinks, such as Pepsi’s Rockstar, has decreased as a result of consumers visiting convenience stores, the sales of well-known brands such as Gatorade and Pepsi have seen an increase throughout the quarter.

Laguarta expressed his opinion to the analysts during the company’s conference call, asserting, “I am of the opinion that it is a component of the economic cycle that we are currently experiencing, and that it will reverse itself in the future, once consumers feel better.”

Additionally, it has been noted that the food and beverage markets of South Asia, the Middle East, Latin America, and Africa have experienced a decline in sales volume. The company cut its forecast for organic revenue for the entire year on Tuesday due to the business’s second consecutive quarter of lower-than-anticipated sales.

The company’s performance during the quarter was adversely affected by the Quaker Foods North America recalls, the decrease in demand in the United States, and the interruptions that occurred in specific international markets, as per the statements made by Chief Executive Officer Ramon Laguarta.

Pepsi has revised its forecast for organic sales in 2024, shifting from a 4% growth rate to a low single-digit growth rate. The company reiterated its expectation that the core constant currency profitability per share will increase by a minimum of 8% in comparison to the previous year.

The company’s shares declined by less than one percent during premarket trading. The following discrepancies between the company’s report and the projections of Wall Street were identified by LSEG in a survey of analysts:

SOURCE: CNBC

Business

Old National Bank And Infosys Broaden Their Strategic Partnership.

(VOR News) – Old National Bank, a commercial bank with its headquarters in the Midwest, and Infosys, a firm that specializes in information technology, have recently entered into a strategic expansion of their link, which has been in place for the past four years.

This expansion is more likely to take place sooner rather than later, with the likelihood being higher.

For the purpose of making it possible for Old National Bank to make use of the services, solutions, and platforms that are offered by Infosys, the objective of this expansion is to make it possible for the bank to transform its operations and processes through the application of automation and GenAI, as well as to change significant business areas.

This lets the bank leverage Infosys’ services, solutions, and platforms.

Old National Bank Chairman and CEO Jim Ryan said, “At Old National, we are committed to creating exceptional experiences for both our customers and our fellow employees.”

This statement is applicable to Old National Bank. Infosys is carefully managing the business process innovations that it is putting us through, putting a strong emphasis on efficiency and value growth throughout the process to ensure that it is carried out efficiently.

This is a routine occurrence throughout the entire operation. Because of Infosys’ dedication to our development and success, we are incredibly appreciative of the assistance they have provided.

Old National has been receiving assistance from Infosys in the process of updating its digital environment since the year 2020, according to the aforementioned company.

Ever since that time, the company has been providing assistance. The provision of this assistance has been accomplished through the utilization of a model that is not only powerful but also capable of functioning on its own power.

Infosys currently ranks Old National thirty-first out of the top thirty US banks.

This ranking is based on the fact that Old National is the nation’s largest banking corporation.

It is estimated that the total value of the company’s assets is approximately fifty-three billion dollars, while the assets that are currently being managed by the organization are valued at thirty billion dollars.

Dennis Gada, the Executive Vice President and Global Head of Banking and Financial Services, stated that “Old National Bank and Infosys possess a robust cultural and strategic alignment in the development, management, and enhancement of enterprise-scale solutions to transform the bank’s operations and facilitate growth.”

This remark referenced the exceptional cultural and strategic synergy between the two organizations. Dennis Gada is the one who asserted this claim. This was articulated explicitly concerning the exceptional cultural congruence and strategy alignment of the two organizations.

We are pleased to announce that the implementation of Infosys Topaz will substantially expedite the transformation of Old National Bank’s business processes and customer service protocols. We are exceedingly enthusiastic about this matter. We are quite thrilled about this specific component of the scenario.

Medium-sized banks operating regionally will continue to benefit from our substantial expertise in the sector, technology, and operations. This specific market segment of Infosys will persist in benefiting from our extensive experience. This phenomenon will enable this market sector to sustain substantial growth and efficiency benefits.

SOURCE: THBL

Business

American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

The largest regulated water and wastewater utility company in the United States stated Monday that it had been the target of a cyberattack, forcing the company to halt invoicing to consumers.

American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

American Water, based in New Jersey and serving over 14 million people in 14 states and 18 military facilities, said it learned of the unauthorized activity on Thursday and quickly took precautions, including shutting down certain systems. The business does not believe the attack had an impact on its facilities or operations and said employees were working “around the clock” to determine the origin and scale of the attack.

water

The corporation stated that it has alerted legal enforcement and is cooperating with them. It also stated that consumers will not be charged late fees while its systems are unavailable.

According to their website, American Water operates over 500 water and wastewater systems in around 1,700 communities across California, Georgia, Hawaii, Illinois, Indiana, Iowa, Kentucky, Maryland, Missouri, New Jersey, Pennsylvania, Tennessee, Virginia, and West Virginia.

SOURCE | AP