Archiving the key to complete regulatory compliance
Compliance with industry regulations is an involved, complicated effort that requires attention from a wide variety of employees, supervisors and executives. With a number of different rules that need addressing and a wide potential for variation from industry to industry, it can be difficult to keep track of all obligations. Sometimes, considerations like archiving digital communications may fall behind needs perceived as more immediate or wide-ranging, despite the sheer volume of messages and conversations that flow back and forth on a daily basis.
Businesses that put unstructured data archiving in the back seat are setting themselves up for failure. Recognizing the complete spectrum of compliance means placing the appropriate amount of attention and level of respect on unstructured communication data.
Supporting complete compliance
While communications like emails and instant messages seem like informal and often inconsequential pieces of data, a wide variety of industries require businesses to retain them for a given period of time. A lack of appropriate data archiving measures opens businesses up for regulatory issues, including fines and other penalties that can significantly harm business effectiveness. A truly complete compliance strategy includes measures to save digital conversations and messages, ensuring this aspect of records retention is never overlooked.
It’s also worth noting that a simple understanding of unstructured data archiving often isn’t enough to meet all compliance requirements. Not only must organizations retain this information, they must also do so in a way that meets specific requirements about formatting, time spent in storage and other concerns. Businesses must make sure all of these small details are addressed appropriately, or else a well-intentioned compliance effort can fail and lead to issues with regulators. Therefore, selecting the right archiving system is crucial. Company leaders must make sure a system can archive all of its unstructured data and do so in a way that adheres to rules laid out by relevant authorities.
“When there’s no room for human error in compliance efforts, they’re more likely to be successful.”
Archiving doesn’t have to be an insurmountable task or a source of worry, however. Advanced solutions that automate much of the process both reduce the obligation for employees and ensure a high level of compliance. When there’s no room for human error in compliance efforts, they’re more likely to be successful. Businesses must find secure, comprehensive and effective solutions to ensure they remain compliant with all aspects of relevant regulations in their industry.