Iron Mountain Expands Cloud-Based Records Retention Management Platform to Mid-sized Businesses
Policy management platform adds new industries, enabling regulatory compliance, reducing risks and costs; pre-built retention schedules now available
Iron Mountain Incorporated® (NYSE:IRM), the global leader in storage and information management services, today announced that its online policy management platform, Iron Mountain® Policy Center solution, is now available for mid-sized organizations seeking to improve their records retention capabilities. Policy Center Standard Edition ensures organizations are compliant with regulations, reducing the risk of fines and costs by confidently disposing of information and keeping only what’s legally or operationally required, while also enabling easier access to information when they need it. The new edition provides a user-friendly way to maintain up-to-date legal guidelines for how long and why to keep electronic and physical business documents, traditionally called a records retention schedule, by combining online, pre-built retention schedules with service levels scaled to the needs of mid-sized companies.
Companies of all sizes and in all industries struggle to keep up with changing guidelines for records retention relying on manual, time-intensive and often error-prone processes to research, update and communicate changes to policies. In turn, they often default to a “store everything” approach that can increase their risk of regulatory non-compliance, drive up electronic and physical information storage costs, and make it difficult to respond to discovery requests during litigation. Holding information for too long can also diminish the expected benefits of an information management program, making it difficult to mine growing volumes of information for business insights that can help deliver bottom-line value.
Policy Center Standard Edition meets these challenges by including legal requirements for different types and classes of records created by departments and roles across all types of companies in all industries. To address complex, industry-specific retention requirements, it offers pre-built industry-retention schedules for pharmaceutical, property and casualty insurance and retail banking companies, based on Iron Mountain’s expertise in building retention schedules for customers in these industries. Iron Mountain expects to add other industry-specific retention schedules on an ongoing basis.
In addition, customers can now use Policy Center to apply their retention policy directly to information stored with Iron Mountain through Iron Mountain ConnectTM, a proprietary online tool for customers to manage offsite records and shred programs as well as access a network of tools and technology that makes it easier to manage information.
Policy Center delivers automated, up-to-date retention guidelines from around the world researched, curated and vetted by legal experts within individual industries and geographies. As a cloud-based tool, organizations can proactively update their retention schedule via a browser interface and inform all employees of actionable guidelines for uniform implementation, removing one of the biggest barriers to achieving compliance. They can feel secure that records are retained according to policy and find opportunities to reduce electronic and physical information storage costs by destroying information in a timely manner.
“Finding better ways to manage growing volumes of information in changing regulatory environments is one of most common challenges that our customers face,” said Ray Aschenbach, senior vice president and GM of the Information Governance and Digital Solutions business at Iron Mountain. “They have long trusted us to manage their information compliantly and securely while also anticipating evolving regulations and requirements that can affect their information governance programs. Expanding our Policy Center platform to make it more accessible to companies of all sizes, with a fit and scale that suits their business needs, underscores that trust and our commitment to deliver technology-based solutions that enable our customers to better manage, govern and gain maximum value from their information.”
Policy Center Standard Edition provides the following benefits:
- Compliance – Keep retention guidelines current and compliant with annual regulatory updates backed by expert, legal research;
- Cost reduction and improved accessibility – Confidently dispose of and pay to keep only information that is needed, reducing volumes and increasing ease of accessibility to information;
- Risk reduction – Reduce risk of regulatory fines by empowering employees to understand what is required of them from an external regulatory and internal policy perspective;
- Scalability – Maintain a pre-built, best practice records retention schedule that reflects business operations, without a large upfront service fee or burden on internal resources.
Iron Mountain will showcase Policy Center at ARMA Live! (Booth #401), Oct. 15–17 in Orlando, Fla. and the Association of Corporate Counsel (ACC Booth #158), Oct. 15–18 in Washington, DC. For more information on Policy Center, visit www.ironmountain.com/policycenter.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM) is the global leader for storage and information management services. Trusted by more than 230,000 organizations around the world, Iron Mountain boasts a real estate network of more than 85 million square feet across more than 1,400 facilities in 52 countries dedicated to protecting and preserving what matters most for its customers. Iron Mountain’s solutions portfolio includes records management, data management, document management, data centers, art storage and logistics, and secure shredding to help organizations to lower storage costs, comply with regulations, recover from disaster, and better use their information. Founded in 1951, Iron Mountain stores and protects billions of information assets, including critical business documents, electronic information, medical data and cultural and historical artifacts. Visit www.ironmountain.com for more information