To help your company lower its risk profile and boost audit and litigation readiness, we've developed a list of the top five things you can do today to make your information management practices a key contributor to ongoing compliance.
Knowing what to keep — for how long — and how to store it are challenges for many companies. And when it comes to compliance, a single misstep can have significant and costly consequences. But the fact remains that with all of the information you create and distribute each day, you must recognize what's critical and what's just "in the way."
The best way to do this is to engage your company's legal counsel to develop a formal, defensible retention schedule that accounts for information in paper and digital formats. This policy must clearly outline what should be kept and for how long — and be enforceable across the business. Putting in the hard work today will pay off in the long run by mitigating the financial and reputation risk associated with issues such as failed audits or inadvertent disclosures of sensitive information.