You’ve finally found a collaborative platform that suits the needs of your team. While this is great news, it also means that you’ll have a collection of data sitting in your previous systems, which could contain sensitive company and customer information. How do you manage this data when you’re no longer using the platform? For both compliance and historical purposes, it’s important to implement a process for archiving data from previously used systems. Here are a few steps to help you get started.
Identify the compliance regulations that your company must adhere to.
For example, if your company follows FINRA regulations, it’s important to make sure you archive data in a way that is compliant to FINRA 10-06. Other regulatory bodies, such as the SEC, have requirements regarding end of content life data preservation. Once you’ve identified these regulations, create a list of the regulations regarding content preservation. How long are you required to keep records of the information? In what format should they be preserved? Don’t forget about regulations like GDPR, which may require you to preserve customers’ personally identifiable information, or PII. This also applies to American companies that have customers located in the EU.
Understand the types of data that you need to preserve.
These days, most collaborative platforms have the ability to process multiple types of data, ranging from text, to video, to documents and more. As a result, your systems contain all kinds of data in different formats. For compliance purposes, you may required to keep this data for a number of years in a legally defensible format, which means that screenshots or downloaded .TXT files won’t be enough. You’ll need to use a comprehensive solution that can manage all of the different types of data that your platforms contain.
Choose a solution that meets both compliance and content requirements.
It would be frustrating to have to use multiple solutions to capture the varying data types and sources within your collaborative platforms, right? That’s why it’s ideal to utilize a solution that can properly archive all different types of data and reproduce it in its native format. This way, should you ever need the data for any type of litigation, you’ll already have the information preserved in a legally defensible form. You’ll want to have this solution in place before you start your migration, to ensure that no data is lost in the process.
An example of this type of content preservation tool is Hanzo’s all in one native format archiving solution. We create a working replica of your data, so it looks exactly the same as when you first preserved it, whether it’s a few days or a few years from the time of preservation.
Compliance can be complicated, but preserving your data doesn’t have to be. To schedule a time to speak with our experts about FINRA, SEC, GDPR or any other regulations, set up a consultation with us today.