By Milan Shetti, CEO Rocket Software
If we’ve learned anything over the last few years facing a global pandemic, stalled supply chains, rising inflation, and sinking economies, it’s that change is the new normal in today’s markets.
In response, organizations have invested heavily in digital transformation. IDC forecasts that global spending on digital transformation will reach $2.8 trillion by 2025 — more than double what was spent in 2020.
As organizations amp up their digital transformation initiatives, which are critical for survival in today’s business climate, they must also consider how to modernize and migrate sensitive data and how it is managed and governed. C-suite leaders must have confidence in the data they have on hand to fuel business processes, deliver customer and employee experiences, and improve their operational analytics and insights.
Given the volume of data most organizations have, they need agile technologies that can provide a vast array of services to streamline content management and compliance, leverage automation to simplify data governance, and identify and optimize all of their company’s valuable data.
Ultimately, when evaluating automation technologies, your business needs software that will enable teams to move quickly and easily identify high-priority, sensitive data and to identify and remove redundant, obsolete, and trivial content (ROT) to remain compliant with complex regulatory demands.
With organizations grappling with how best to streamline data management and compliance, there are four key considerations in doing it effectively.
Businesses need fast and accurate analysis of all their content. Organizations with content-rich processes should look for flexible and scalable automated solutions that can deliver a broad classification of content — reducing the chances of important information slipping through the cracks and allowing teams to quickly identify more types of sensitive data.
To support compliance with a governance-first approach to content-rich process automation, businesses must be vigilant when it comes to managing the retention and privacy of documents. This is achievable by automating as much governance decision-making and manual processes as possible. Utilizing automation technology to automatically govern content-rich processes and eliminate mundane, tedious, and repetitive tasks, teams can eradicate many opportunities for human error and free up employees and resources to increase efficiency.
One of the biggest threats to a company’s sensitive data is accessibility. Easily accessible, less secure data is vulnerable to hackers and malware, which, if breached, can have catastrophic consequences for an organization. Teams must look for automation software that can set time and geography parameters around employee accessibility, deny access should a network be breached, and allow redaction across the entire enterprise.
To successfully manage the entire content lifecycle, businesses must have the ability to place content on legal hold, manage the over-retention of documents, and enable encryption at rest. Rocket Software’s Mobius Content Services platform delivers this by not only allowing report management teams to encrypt and quickly put content on legal hold, but also providing storage reduction to avoid over-retention and ROT. Mobius can also easily integrate into many shared drives and collaborative platforms to streamline ROT and site auditing.
With investment growing in digital transformation, organizations must stay competitive — and, for many, data is becoming the critical differentiator. By implementing the right tools now for data automation governance, organizations will be better positioned to maximize it and stay compliant. To learn more about Rocket’s content management solutions, visit the product page.