For any business, maintaining and enhancing the customer relationship is very important.
While there are many factors that influence the quality of this relationship, one that is essential is the strength of your company's payment card data security framework.
Customers take a big leap of faith in choosing to pass on their payment card information, so if your organisation stores this data anywhere it's critical that there are sufficient levels of protection in place to ensure that cyber criminals cannot access this sensitive information.
If your organisation does not adhere to the guidelines set out by the payment card industry data security standard, (better known as the PCI DSS) and a breach occurs, this can affect the level of trust that customers place in your company.
Here are a few reasons why complying with the PCI DSS can benefit your company.
Peace of mind
The first benefit that comes along with PCI DSS compliance is the fact that you get increased peace of mind.
Knowing that your organisation has done everything it can to ensure the safety and security of your customers' payment card data means you won't have to worry quite as much about any potential vulnerabilities in your system.
In addition, by adhering to the guidelines set out by the PCI Security Standard Council, you know that you are following an industry standard that has been developed thoroughly and comprehensively.
Better customer relationships
One of the most obvious benefits of achieving PCI DSS compliance is the fact that it provides an undisputed advantage in the maintenance of customer relationships.
By complying with the standards of the PCI DSS framework, you are demonstrating that your company places a high value on security – and this will encourage more customers to trust you with their personal payment card information.
Improved customer relationships can often translate into a positive impact on your profits – so make sure your company isn't left behind when it comes to achieving PCI DSS compliance.
PCI DSS compliance should be an essential component of any vulnerability management plan, but some organisations are deterred by perceived difficulties or costs.
However, it may be easier than you think to comply with the PCI security standards – regardless of the technology you use or the type of business you have, the PCI DSS is designed to be able to apply to any company which processes and stores customer payment card data.
For extra guidance, you may wish to turn to a trusted security solutions provider who can help your company navigate the process of PCI compliance successfully.