The risks and solutions for compliance archiving and records management within regulated organisations.
In today's regulated business environment, maintaining outdated recording systems is no longer sustainable.
The risks and costs associated with doing nothing are becoming impossible to ignore. Our latest whitepaper, The Cost of Doing Nothing, delves into the critical need for businesses to modernise their compliance archiving and records management systems.
Some key highlights from the whitepaper include:
- 44% of organisations are still using at least one end-of-life or unsupported legacy recording system, exposing them to significant compliance risks.
- 79% of organisations manage two or more legacy systems, creating unnecessary complexity and increasing security vulnerabilities.
- 93% of businesses must retain interaction recordings for up to 10 years, making it crucial to have a streamlined, compliant data management process.
- 38% of organisations were asked to provide recording data to a regulator within the last year, with a higher rate in banking (45%).
- 26% of businesses are most concerned about regulatory risk and potential financial penalties due to non-compliance.
In addition to identifying these challenges, the whitepaper shares real-world examples of companies that have successfully navigated these issues. By
decommissioning outdated systems and consolidating data management platforms, businesses have reduced storage needs by
87% and improved data retrieval efficiency by
90%. These operational improvements not only cut costs but also enhanced regulatory compliance and minimised risk.
With rising compliance risks and operational inefficiencies, the need for a modern, future-proof solution has never been more urgent. The Cost of Doing Nothing whitepaper outlines how businesses can avoid the pitfalls of outdated systems and embrace a unified approach that improves both efficiency and compliance.
Download the full whitepaper to learn how to protect your business from rising compliance risks and operational inefficiencies while embracing a modern, future-proof approach.
