Ensuring Data Security: Essential Measures for Your CRM and Auto Dealership Data

THE FTC’s Safeguards Rule Deadline was June 9 th – Is Your Dealership In Compliance? Ensuring Data Security: Essential Measures for Your CRM and Auto Dealership Data that you may not know about.

What is the FTC Safeguards Rule?
A recently revised U.S. Federal Trade Commission (FTC) ruling – the Safeguards Rule – requires non-banking financial institutions to develop, deploy and maintain a comprehensive security program to keep customer financial data safe. And Auto Dealers are one of the groups specifically targeted in the ruling. With the growing number of data breaches and evolving security threats, organizations need to advance their security programs to protect the confidentiality of customer information.
Have you, along with your Customer Relationship Management (CRM) partner, taken all necessary steps to secure your data? It’s of paramount importance that you not only oversee access to your data, but also comprehend the methods and intent behind the access, usage, and preservation of this data. A key factor in data protection involves meticulously monitoring who has the privilege to access your
data. It is imperative that you’re aware of their intentions – how they access it, what they do with it, and the protocols they follow to safeguard it. Fortunately, BDC United has your back and can ensure the security of your BDC. Furthermore, our
proprietary data mining methodology and secure automation and ai technology can help you make the most of the data that you are now liable for.
Compliance with regulatory requirements is also crucial. Recently, there have been modifications to the Federal Trade Commission’s Safeguards Rule. This rule sets the criteria for data security in auto dealerships, among other businesses. These amendments require immediate attention, as the deadline for compliance has been set for June 9, 2023. Consider the physical security of your dealership. Would you ever leave your showroom or lot unlocked, exposing valuable inventory to potential theft or damage? The answer, most likely, is no. The same level
of stringent security should be applied to your data. Data is an invaluable asset, comprising sensitive customer details, transaction records, and proprietary information. Ensuring its security is as important as safeguarding the physical assets of your dealership. Take the time now to reassess your data security measures. Collaborate with your CRM partner to inspect current protocols, identify any weaknesses, and rectify them promptly. Ensure you comply with all updated regulations, specifically the FTC’s Safeguards Rule. In this age of digital transformation, the call for stringent data security measures is louder than ever before. Respond to this call by taking all necessary actions to fortify the security of your BDC. Scan the code below to contact BDC United today to help protect your data and fosters trust with your customers – a priceless asset in the automotive industry.