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The Importance of Compliance & Records Retention for SharePoint

By : Ryan V.On : 2/16/2012 7:41:00 AMViews : 1249
February 16
I just spent another great day with more AvePoint partners in one of my favorite cities – Cincinnati, OH. Together with Ascendum Solutions and KnowledgeLake, I had the opportunity to present to 30 brave individuals – representing a diverse array of organizations, including small-and-medium businesses as well as Fortune 500 enterprises – who showed up at 8am to hear us talk about Compliance and Records Retention for Microsoft® SharePoint® content.
 
I was thrilled with the attendees’ great questions and serious concerns surrounding the topic at hand. Regardless of your organization’s line of business, industry vertical, geographic scope, and size, you ignore compliance and records retention at your own peril. Here are just a few potential consequences:
·         Millions of dollars in litigation costs
·         Criminal charges for destroying documents
·         Billions of dollars in fines (think Enron, Anderson Consulting, and WorldCom)
·         Forcing bankruptcy or even ceasing company operations entirely
 
The moral of the story is that this is a serious topic today. Lawyers know that SharePoint actually stores content they need in order to help win their cases! As a standalone initiative – or as part of a larger overall governance plan – compliance and records retention can no longer be ignored. Cost avoidance, cost reduction, risk avoidance, risk reduction, avoiding criminal and civil charges, and protecting the very existence of your company make this an extremely serious topic for consideration.
 
What do you think? Is this a concern for you as well? Let me know what you think by leaving a comment below.
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