Are You Hoarding Your Data?

Reality television has opened up the public’s eyes to the very real problem of hoarding. The sight of a hoarder’s home is often shocking and quite honestly disturbing. In business most people and organizations don’t consider themselves to be hoarders. However, when we take a look at some companies’ lack of disposition policies regarding their records, they exhibit the “hoarding” mentality. The fear of getting rid of records too soon is easy to understand. Companies face the possibility of costly legal risks if they dispose of data sooner than needed. So what’s the solution? Well couldn’t you just hold on to as many records for as long as possible? No.

This is the common mistake companies are still making today. Preservation of records is an issue overlooked by many companies, presenting challenges of increasing storage costs and problems with managing a growing volume of unneeded information. Instead of focusing efforts on trying to keep data forever, an emphasis must be placed on defensible disposition.

The key to avoiding both over preservation and premature disposition of records is understanding defensible disposition and putting policies in place to enforce it. Defensible disposition ensures that data no longer possessing business, legal, or regulatory value is disposed of properly and according to your retention policy. Following an enforceable retention policy mitigates risk, and lowers electronic and physical storage costs.

Making defensible disposition possible requires collaboration between legal, IT and records management departments in your enterprise. Together these departments are able to develop proper standards and policies to improve the entire lifecycle process from the creation to the disposition for your records. Policies must be established for all content types within the enterprise and they must be enforced once put in place.

This may seem like a daunting task to take on, but FileTrail solutions allow your company to create, maintain and automate information governance policies including retention schedules for defensible disposition. FileTrail takes these policies and automatically applies them across all your data, both physical and electronic. With FileTrail policies are enforced through actionable dashboards to assure standards are being met. Now you can breathe easy knowing you don’t need to (and shouldn’t) hold on to your data forever.