Your enterprise information is doubling every 2 years. DOUBLING. And sadly, if you're like most companies, you're doing a poor job managing it. In fact 61% of respondents to a recent AIIM study indicate that a majority of their content is managed outside of an ECM despite finding themselves under even more regulatory pressure than before.
Shared drives are overflowing with information, unsanctioned cloud sync and shares are popping up everywhere, knowledge workers are still hoarding information on their desktops and collaborating via email and legacy holdouts are siloing important information. It’s the needle in a digital haystack buried under terabytes of digital ROT (redundant, obsolete and trivial information) and we haven't even begun to talk about growing digital media libraries as companies embrace video, social media, podcasts and more. Most companies are harbouring a ton of freeloading data that isn’t being put to use and costing them money.
Incomplete or unretrievable data leads to poor business decisions that are crippling your bottom line. eDiscovery costs come in at $18,000 for every reviewed gigabyte and those are wasted dollars if the company is still unable to locate the required information. Litigation losses can put up staggering numbers and the loss of reputation is an even bigger concern for the majority of companies surveyed - twice that of avoiding fines and penalties.
It’s not just being unable to find important information but having data that isn’t on a defensible disposition schedule can result in losing a case due to exposed information that should have been destroyed long ago.
Start minimizing legal risk and reduce exposure by delivering sound records management in a secure centralized repository. Keep your key businesses records consistent, auditable and tracked. Better manage policy records, internal audit evidence and documents related to an incident. The alternative to actively managing your information is going to cost you in the long run.