Benefits of Consent Management
Consent Management Platforms (CMPs) are tools that help organizations automate the process of obtaining, managing, and storing user consent in a way that complies with data privacy regulations like GDPR (General Data Protection Regulation), CCPA (California Consumer Privacy Act), and other global data protection laws. Effective consent management offers several important benefits, particularly in the context of data privacy and regulatory compliance. Below are the key advantages: Regulatory Compliance Adherence to Privacy Laws : Proper consent management ensures compliance with global data privacy regulations like GDPR , CCPA , LGPD , and POPIA , which require user consent before collecting or processing personal data. Avoiding Fines and Legal Consequences : Non-compliance with data privacy laws can lead to heavy fines and legal actions. For example, GDPR fines can reach up to 4% of a company’s annual global revenue. Consent management reduces the risk of such penalties by ensuring tha