Inside TDV - The Data Vault Blog
Let’s Talk Records Retention
Experts increasingly agree that the rapid growth of information will mean that having a records storage and destruction timeline will be crucial in the future of business. Recent Gartner estimates put 60% of the data in company archives as “redundant” files that could be destroyed. While many business owners or records managers may feel that the information is doing nothing more than harmlessly taking up space, the truth is that extraneous storage only increases the possibility of a data breach. Having a destruction or deletion schedule in place means that periodically these non-essential files are purged, reducing that risk.
“[Retention schedules] certainly mitigate risk from a data management and information governance perspective because, at the end of the day, retention schedules are about two things: avoiding the cost of keeping information and making it quick and efficient to find it when a legal or regulatory request comes up,” Barry Murphy, co-founder and principal analyst at the eDJ Group consulting firm.
The benefits of periodically purging files via secure shredding is twofold: you eliminate the costs associated with storing them long term at the same time as reducing the ever present risk of a data breach. Here at The Data Vault, one of the benefits of working with our team on records management is the recommendations and experience they bring to the table. We can help you develop a retention schedule if your organization doesn’t have a previously existing plan, and we will automatically notify you when records reach a certain storage age. To find out more about effectively managing your information, contact us today!