Hi there,

It’s designed to make it easier for consumers to compare and switch between products and services, encouraging competition, and now the Consumer Data Right has some teeth to it, with the ACCC and OAIC outlining their compliance and enforcement policy for it.

It’s an approach that sees the two bodies taking a ‘strategic risk-based approach’– and one that could have heavy consequences for anyone flouting their obligations. Those consequences range from infringement notices to accreditation revocation prohibiting collection of data, to court proceedings.

There’s a big factor here of boosting consumer confidence that personal data will be protected when the scheme goes live July 1. In a post-Covid world, where consumer trust is going to be key, that’s never been more important.

In other news this week:

The quantitative benefits in data-driven decision making on the frontline
Cloud: The good, the bad, the Covid
The CFO’s post-Covid focus
Social distancing wearables join safety equipment lineup

Enjoy the read,

Heather Wright
Editor
editor@istart.com.au

CONSUMER RIGHTS

Laying down the law for Consumer Data Right enforcement

ACCC says it intends to speak softly and carry a big stick…

Companies failing to meet the standards of the Australia’s Consumer Data Right project could face court action now that a new enforcement policy has been revealed.

“With this important reform comes significant and serious safeguards.”

[Read more]

FRONTLINE STAFF

HBR: Empowering frontline staff with data-driven decision making reaps returns

Report quantifies the benefits of frontline tech…

We’ve long heard that enabling data-driven decision making for frontline employees – and the whole citizen data scientists concept – can bring benefits for companies.

“These efforts are also generating enhanced innovation, top-line growth, market position and profitability.”

[Read more]

BUDGETS

Cloud shifts ‘challenging’ company budgets

The move to opex isn’t a winner for all…

The move from capex to opex has long been hailed as one of the benefits of cloud.

“Having visibility across all of it and the ability to manage multiple providers, systems, bills and so on is becoming more complex.”

[Read more]

Seven tips for effectively managing your accounts

POST COVID-19

CFOs ponder their post-Covid-19 prospects

Investment in digital the key to meeting the Covid-19 challenge say CFOs…

Whether you’re fighting for the edge in the post-Covid-19 future, or fighting for survival in the short term, everyone’s trying to figure out what the global Coronavirus pandemic means for their business.

“The pandemic has underscored the need for new skills."

[Read more]

SOCIAL DISTANCING

Wearables take on social distancing

Bracelets for port and industrial workers…

In a world of social distancing, staying apart from each other might be critical, but it can be a challenge, particularly in large work environments. Enter wearables.

“It is fundamental that our economy can get back to full speed as soon as possible and that we focus on ways to ensure this restart will proceed safely.”

[Read more]

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