What does it mean for you if…?
You do not know who's doing what with your customers' personal data?
You can not audit access to your customers' personal data and proactively detect and take action on any type of misuse. In the end you are not taking the necessary measures to protect the privacy of your customers.
You do not have full control over all changes of your customers' personal data?
You are not in control of how customer personal data is managed and updated. E.g. you do not really know which customer had a specific email address or phone number at a specific point in time.