Companies that do not keep close tabs on PDAs, instant message conversations and other forms of electronic data may soon be in for a nasty surprise, should they find themselves in court. As of December 1, 2006, new guidelines, called the Federal Rules of Civil Procedure, go into effect. The rules, set by the U.S. Supreme Court, expand the types of electronically stored information that companies could be required to produce in a lawsuit.That means companies will now be on the hook to retain and produce a broader range of digital data than before. Flash drives, voice-mail systems and instant message archives will all be added to the mix.According to a recent online survey, executives are ill-prepared for the new rules: In a November study by Deloitte Financial Advisory Services, almost 70 percent of respondents said they require more training on their own corporate record retention policies and procedures (and this in an audience including many CFOs, tax directors, finance directors, attorneys and controllers). Deloitte says the time is ripe to examine your data retention strategy.One way that enterprise IT can prevent surprises under the new rules is by more thorough auditing. Take instant messaging: According to a 2006 study by the American Management Association and the ePolicy Institute, more than half of those who use free IM software at work say that their employers have no idea what they’re up to. For most companies, the biggest worries stemming from the use of undisciplined instant messaging will be skyrocketing costs and lost productivity during discovery, says Jeffrey Ritter, cofounder of Waters Edge Consulting, an information management consultancy based in Reston, Va. “The burden facing companies is cost containment,” he says.Companies can get into real trouble when the CIO, general counsel and records manager are not on the same page, Ritter adds. “The most significant challenge for many companies is the lack of a teamed approach to evaluating the risk.” Related content BrandPost The future of trust—no more playing catch up Broadcom: 2023 Tech Trends That Transform IT By Eric Chien, Director of Security Response, Symantec Enterprise Division, Broadcom Mar 31, 2023 5 mins Security BrandPost TCS gives Blackhawk Network an edge with Microsoft Cloud In this case study, Blackhawk Network’s Cara Renfroe joins Tata Consultancy Services’ Rakesh Kumar and Microsoft’s Nilendu Pattanaik to explain how TCS transformed the gift card company’s customer engagement and global operati By Tata Consultancy Services Mar 31, 2023 1 min Financial Services Industry Cloud Computing IT Leadership BrandPost How TCS pioneered the ‘borderless workspace’ with Microsoft 365 Microsoft’s modern workplace solution proved a perfect fit for improving productivity and collaboration, while maintaining security of systems and data. By Tata Consultancy Services Mar 31, 2023 1 min Financial Services Industry Microsoft Cloud Computing BrandPost Supply chain decarbonization: The missing link to net zero By improving the quality of global supply chain data, enterprises can better measure their true carbon footprint and make progress toward a net-zero business ecosystem. By Tata Consultancy Services Mar 31, 2023 2 mins Retail Industry Supply Chain Green IT Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe