What is compliance archiving and why is it important?

What is compliance archiving and why is it important?

Compliance archiving refers to the systematic storage of records to meet legal and regulatory requirements. It's crucial for organizations to ensure they can provide evidence of compliance during audits.

What types of documents need to be archived for compliance?

Typically, documents such as financial records, emails, contracts, and any communication related to regulatory requirements need to be archived.

How long should we keep these archived documents?

The retention period varies by industry and regulation, but generally, documents should be kept for at least 5 to 7 years.

What are the risks of not archiving compliance documents?

Failing to archive compliance documents can lead to legal penalties, loss of reputation, and difficulties during audits.

Can you recommend any tools for compliance archiving?

Yes, there are several tools available, such as Microsoft 365 Compliance Center, Archive360, and Veritas Enterprise Vault, which can help with compliance archiving.