How IT leaders can drive cost savings and efficiency with modern compliance solutions.
Billions of internal, trade and customer interactions are captured every year, and for IT professionals that work in regulated industries, the challenge of managing vast archives of data across multiple systems, is a daily reality.
Legacy systems in particular present significant hurdles: high maintenance costs, complex data extraction processes, and the constant need for staff training on unsupported solutions. These challenges do however also present an opportunity for transformation which need not be as daunting as it sounds.
The IT Challenge: Managing Complexity
Firstly, legacy systems often require significant resources to maintain effectively. Once a system is no longer supported, vital security patches are not provided, plus there is a need to train staff on outdated platforms or operating systems. Of course, there are hardware costs to consider that are run with legacy operating systems in order to still maintain access to historic files.
Recent research we conducted for a new whitepaper “The Cost of Doing Nothing: The Risks and Solutions for Compliance Archiving and Records Management” found that 39% of businesses are still managing at least two legacy recording systems in addition to their live system, with more than a quarter (28%) managing three.
This complexity not only drives up costs but also increases the risk of non-compliance and potential security flaws due to fragmented data and IT architecture.
The Cost of Doing Nothing
Maintaining the status quo is not just costly, it’s unsustainable. Inaction will lead to skyrocketing maintenance costs and a risk of over-retention of interaction data, where businesses hold onto data longer than necessary. This not only results in additional storage-related costs but opens up the business to potential compliance sanctions (as if you hold the data, it remains within regulatory scope, regardless).
A Smarter Approach to Record Keeping
We know that Wordwatch addresses these challenges head-on for IT professionals and offers several benefits:
- Consolidation – by consolidating all interaction records onto a single platform, Wordwatch significantly reduces the need for multiple servers, cutting storage requirements by an average of 87% and server usage by 90%.
- Streamlined operations – with its intuitive interface and rapid search capabilities, Wordwatch simplifies data management, making it easier to locate, retrieve and replay records, across billions of interactions.
- Data integrity – preserve original recording formats with a verified Chain-of-Custody to meet global regulatory standards and avoid penalties.
Modernising your compliance archiving and records management systems is not just about meeting today’s needs but about future-proofing your operations.
The volume of interaction data your business needs to store is only set to increase, and therefore the cost of doing nothing is simply too high.
Download our whitepaper today to learn how Wordwatch can transform your IT operations, reduce costs, and streamline your records management strategy.