Everywhere you look, information is being created.
What is more, that information is being stored, often inadvertently. When the time comes for that information to be accessed and retrieved/managed, perhaps because of litigation, a subject access request, internal investigation or regulatory inquiry, many companies find themselves in real difficulty.
Big Data, BYOD, social media and an array of gadgets and devices for sending, retrieving and storing data, means that everyone today handles more information than ever before. Much of it will never be looked at again, but some of it will and that is what creates the problem for the litigator and the client. It is all very well saying that your data is stored in the cloud. Where is the cloud? Your data is still on a server somewhere. Where is it and how accessible is it when you want it? The answers to these basic questions may well present you with a problem.
In Data in a Crisis-Manage Your Risk Kingsley Napley lawyer, Caroline Jan, a specialist in commercial litigation and fraud investigations addresses these concerns in her recent article in the June/July edition of Computers & Law published by the Society for Computers & Law www.scl.org
Caroline concludes that while it is likely to be impossible to eliminate every risk involving the retention, management, storage and subsequent retrieval of information, it is definitely possible to reduce, mitigate and manage the risks, thereby limiting possible financial or reputational damage if a crisis occurs.
The general point here is that while no one likes the idea of litigation or regulatory investigation, it just does not do to be caught unaware. The wise virgins will have put time and thought, and a little bit of money too, into installing systems which enable them to access the relevant information when they need to.
Foolish virgins continue to bury their heads in the sand.
Which type of organisation do you want to be part of when the time comes?
PS. The problem recently encountered emailing subscribers with notice of new posts appears to have been solved. Thank you for your patience.