Trust between partners is easily lost if company and personal data are not (or no longer) reliable. Companies and individuals gain trust by exchanging reliable data using the trust network. Therefore, it is essential for business operations that the company protects its reputation and is attentive to partners’ reputation, “know your partner.”
The loss of trust has immediate financial consequences and is more extensive if its reputation is questioned due to its actions or partners. Therefore, it is a business case for many companies to manage their organisation’s business and personal data, and business and personal data of partners adequately and proactively.
Controlling data is an essential theme in European and national legislation. The European General Data Protection Regulation (GDPR) and the Directive on protecting undisclosed know-how (trade secrets) against its unlawful acquisition, use and disclosure are good examples. The latter has been elaborated in the Netherlands in the Trade Secrets Protection Act (Wbb).
The trust network, particularly the information ecosystem, facilitates users to manage and share company and personal data controlled. The information ecosystem is developed by entering into agreements with partners and consists of the main agreement (sales or purchase contract) and a processor, data exchange or management agreement. The rules of the TTP policy are applicable at all times.
The TTP policy and the processor, data exchange or management agreement ensure the partners’ confidentiality and reliability of company and personal data. MYOBI facilitates users with the following activities:
- Every year, MYOBI requests an extract from an authentic source (e.g., the Chambers of Commerce) for all users of the trust network and compares it to the existing data on the trust network. In case of discrepancies, MYOBI reports these to the user’s reputation manager and asks for corrections.
- MYOBI facilitates the user’s accountability responsibility for organising compliance with legal and contractual obligations, particularly the TTP policy, annually. Facilitation consists of a TTP Code of Conduct AVG, a compliance approach and publishing the degree of compliance in an Accountability Seal in a publicly accessible register.
Controlling data consists of making agreements and establishing that the agreed control measures have also been effective. MYOBI offers the user of the trust network a system of control measures, with which the company reputation can be safeguarded, and the supervisory burden can be reduced.