Taking Your Retention Program to the Cloud?
Keeping retention schedules current is a more complex process than ever, thanks in part to diverse and often conflicting legal requirements in multiple domestic and global jurisdictions
Keeping retention schedules current is a more complex process than ever, thanks in part to diverse and often conflicting legal requirements in multiple domestic and global jurisdictions. However, this ritual is now finding some much-needed relief in the cloud, where an enterprise can store and distribute ever-changing retention rules, using automation, with ease and efficiency.
The cloud offers an extremely dynamic approach to retention schedules. Since it's not cuffed to any legacy IT systems, a cloud service can conform to your existing infrastructure. It can also:
- Pave the way for automating changes and updates to retention schedules
- Reduce the risk of prematurely deleting essential records
- Help you shake off the risky "keep everything" mentality
Ask the Right Questions About Retention
Before you move your retention program to the cloud, ask these three questions:
#1: Can the cloud enable more timely retention schedule reviews?
Many RIM staffers struggle to update these schedules every 18 to 24 months. However, business moves and changes, as well as process revisions, are ongoing, and as such there must always be updates.
The cloud-based platforms can provide a common framework for managing and tracking retention rule updates. It can also streamline the records disposition process, basing updates on "trigger events" such as the termination of a contract or a change in HR requirements.
#2: Which trusted cloud services provider(s) can cope with diverse, multinational organizations?
Much of the current business world is, by default, global—while records retention practices remain relatively provincial. As you move toward a cloud solution, you'll want the help of a third-party cloud vendor that:
- Maintains a team of legal experts that curates and distributes the latest legal and regulatory guidance, including detailed compliance guidelines, from a global set of jurisdictions.
- Offers a mechanism for distributing updated retention guidelines throughout your organization.
#3: How can the cloud complement existing technology?
One key attribute of the cloud is that it lets you to keep your current IT and information management infrastructure in place. Because of this, you can systematize your distribution of regulatory requirements to your firm's information managers. For example, by signing up for a subscription-based legal research service, you can more easily monitor and interact with your retention schedule to ensure it suits your particular business needs. One of the biggest advantages of this approach is the ability to update your schedule as your needs (and local laws) change and evolve.
Solicit a Multitasking Partner
Pairing the cloud with high quality legal research and retention requirements is a huge step toward information management program success. However, be sure that your trusted partner has a team that's well experienced in both the tech and human aspects critical to modernizing retention—such as the roles required within your organization for the program to succeed.
Once you lock down these essential services, you'll be on your way to having a more cost-effective, compliant and efficient retention program.
Do you have questions about records and information management ? Read additional Knowledge Center stories on this subject, or contact Iron Mountain's Information Management team. You'll be connected with a knowledgeable product and services specialist who can address your specific challenges.