Hosted Service provides records retention management.
Press Release Summary:
Accessed via customer portal, web-based Retention Center lets organizations manage, monitor, and audit systems and repositories that contain records and information to meet compliance and litigation requirements. Companies can create, publicize, and enforce retention schedule to ensure systematic, good faith disposition activities, and eliminate discovery surprises associated with records in storage. Users can also communicate and enforce litigation holds to minimize risk of fines and sanctions.
Original Press Release:
Iron Mountain Previews Retention Management Solution
Hosted, Web-based Solution Helps Companies Manage, Monitor and Audit Records Retention for Compliance and Litigation Requirements
BOSTON, and SAN ANTONIO, Texas, Oct. 23 // -- (ARMA Booth # 311) -- Iron Mountain Incorporated (NYSE:IRM), the global leader in information protection and storage services, today introduced a new web-based records retention management solution designed to help companies efficiently manage retention schedules and litigation holds across all records repositories -- physical and electronic -- on an enterprise-wide basis. Iron Mountain's new "Retention Center" will allow organizations to manage, monitor and audit systems and repositories that contain records and information to meet compliance and litigation requirements. The solution is targeted for general availability in the first quarter of 2007, but is being previewed at ARMA International's 51st Conference & Expo in San Antonio, Texas, October 22-25, 2006.
Many enterprises have difficulty implementing retention policies and complying with litigation holds consistently across records repositories (backup tapes, paper records, e-mail, applications, archives, etc.). A lack of automated controls makes administering retention activities inconsistent and ad hoc, costly, and difficult to enforce. In this climate of escalating risk, businesses need a practical retention management solution that enables them to identify multiple records repositories, implement a retention schedule and enforce litigation holds. Recent legislative changes and high-profile court cases ratchet up the pressure even further. In particular:
o New amendments to Rule 26 and other Federal Rules of Civil Procedure (FRCP), which govern discovery in civil litigation, are landmark changes that compel businesses to formalize litigation readiness relevant to records.
o Groundbreaking legal decisions like Zubulake v. UBS Warburg make it imperative that businesses be able to communicate, enforce and confirm litigation holds on discoverable data.
"The upcoming eDiscovery rules amendments underscore the criticality of records retention policies, consistent and uniform enforcement, auditability, and chain of custody across physical and electronic records," noted Vivian Tero, Senior Research Analyst, Compliance Infrastructure, IDC. "Solutions like Iron Mountain's Retention Center are intended to address this very important business need."
Iron Mountain's Retention Center enables companies to:
o Identify records repositories that contain the information needed for discovery and compliance audits.
o Create, publicize and enforce a retention schedule to ensure systematic, "good faith" disposition activities, and eliminate discovery "surprises" associated with records in storage.
o Communicate and enforce litigation holds to reduce the risk of fines and sanctions, and reduce storage and archiving costs resulting from over retention.
Iron Mountain's Retention Center is accessed via the Company's customer portal, Iron Mountain Connect(TM). As a hosted solution, companies can quickly realize the benefits of Retention Center for risk and cost reduction, without the need for IT to implement or install new applications. Retention Center also leverages current technology investments by providing visibility of records repositories such as digital archives, human resources, financial and business operations applications.
"Recent legislative changes, such as new amendments to Rule 26 and other Federal Rules of Civil Procedure that govern discovery in civil litigation, are forcing businesses to know where records are located," said Matt Kivlin, Director of Product Management, Iron Mountain. "Without the ability to consistently control what records are retained -- and for how long -- companies face the threat of fines, sanctions, executive liability, and a damaged brand reputation. Iron Mountain's Retention Center is designed to ease this burden for businesses."
To extend the value of Retention Center, Iron Mountain's consulting team offers a wide range of Compliant Records Management Program solutions and can help businesses create and implement legally-credible records retention schedules. Iron Mountain offers the combined expertise of over 50 consultants, who can draw on Iron Mountain's unequaled experience in records retention, document management, electronic discovery and data privacy. For additional information, please see: http://www.ironmountain.com/records/rmsconsult/.
Iron Mountain's Retention Center is scheduled for general availability in the first quarter of 2007. For more information, visit: www.ironmountain.com/arma or email: retention.center@ironmountain.com.
About Iron Mountain
Iron Mountain Incorporated (NYSE:IRM) helps organizations around the world reduce the costs and risks associated with information protection and storage. The Company offers comprehensive records management and data protection solutions, along with the expertise and experience to address complex information challenges such as rising storage costs, litigation, regulatory compliance and disaster recovery. Founded in 1951, Iron Mountain is a trusted partner to more than 90,000 corporate clients throughout North America, Europe, Latin America, and Asia Pacific. For more information, visit the Company's Web site at http://www.ironmountain.com/.
