Data Retention Compliance
Data retention compliance is a popular discussion topic amongst enterprise companies. Whether your data retention policies are fueled by regulatory compliance, internal rules, or customer requirements, it’s essential to have the right expertise in place to develop your data retention strategy and map out corresponding tactical activities.
Let’s face it; the volume of data flowing through your business is going to exponentially increase in the coming years as a result of the digital world we live in. Data retention policies lay out exactly which data must be kept, for how long, and where it should be stored. When crafting your data retention policies, it’s important to focus on two key areas:
- Business Audit Areas: From the business side of the operation, the company must identify why specific data must retained (i.e. a tax audit).
- Technical Audit Areas: From a technical perspective, it’s essential to identify how the data is going to be stored, organized, & accessed.
While the technical audit areas are certainly an important part of the process, the business audit areas can have serious negative financial & legal consequences if the right strategy isn’t employed. In particular, many companies retain their data for much longer than what is required, which poses unnecessary legal risk. As a result of this risk, many companies place significant value on their data destruction practices. The last thing a company wants to have on their hands in litigation is data that they could have legally disposed of, had they followed their data retention policies. Implementing a solid defensible disposal program is essential. Remember, defensible disposal disproves any accusations of spoliation.
Auritas provides data retention and destruction consulting services to companies with operations all across the globe. Not only can our company provide you with an effective data retention strategy, but we can implement it as well. Contact Auritas today to speak with one of our data retention & destruction strategists. Don’t forget to ask about our strategic assessment too. It’s not something you want to miss out on.