By Douglas Vargo, VP, Information Management, Paragon Solutions
Perhaps the time to make the case for information archiving in an increasingly digital enterprise is right now. The volume of data stored within organizations is reaching the point where information levels actually interfere with productivity – rather than enhance it.
More and more, CIOs are mandating the reduction of the IT portfolio and overall IT spend, organizations are feeling paralyzed and limited with aging legacy systems – and a glaring lack of information governance and retention management is proliferating the enterprise.
Did You Know?
- 60% to 80% of data in production applications is inactive. Plus, 70% of corporate IT budgets support existing infrastructure – leaving only 30% available for new technology investments and IT innovation.
- Information volumes within an organization are growing at a rate of 200% annually. Over 90% of records are already created electronically.
- Since 2013 and projected to 2020, the digital universe is growing by a factor of 10 – from 4.4 trillion gigabytes to 44 trillion. It more than doubles every two years.
- With the extraordinary growth of electronic records, aging application portfolios, lack of retention controls for existing electronic records, no long-term preservatin of electronic records and challenges in maintaining authenticity and integrity of records over time, enterprises today are looking to transform the process of IT portfolio management – digitally transform.
Enterprise Archive Strategy
An Enterprise Archive Strategy addresses an organizations’ structured and unstructured archive needs from tactical system archiving to enterprise archiving services. An Enterprise Archive Strategy and Service can be key components of an Application Portfolio Management environment – a true eArchive initiative to provide for long-term digital preservation and retention management of records.
The stark reality is, today legacy applications are of low value to a business, but they must be maintained and supported to ensure access to the data they hold which is often required to meet compliance regulations and support reporting, audit or legacy discovery. These applications are often no longer supported by the vendor or are on legacy infrastructure and require specialized knowledge to maintain. As a result, they are expensive to retain and may represent a risk to the organization.
Leading archiving solutions today archive legacy data so that the system can then be switched off, eliminating all associated costs. Simply put, archive solutions allow legacy applications to be shutdown and decommissioned, which saves massive costs associated with supporting and maintaining lagging and burgeoning applications.
What are 5 Archiving Advantages?
- Regulatory compliance for data retention, data immutability and audit trails.
- Improving performance of current business applications.
- Making archived information widely available and easy to retrieve by users.
- Removing the burden and complexity of maintaining obsolete systems solely for their data.
- Reducing costs and return funds for IT innovation.
The most important thing to remember is that information archiving is a mandate for the digital enteprise today. Many organizations — particularly those in the banking, brokerage, pharmaceutical, insurance, manufacturing, telecom and public sector — are facing massive pressure to comply with regulations and rules that apply to multinationals and public companies generating vast volumes of data from multiple applications.
Through implementing an archive program, organizations can start managing the exponential growth of information in a complaint fashion while maintaining information governance. Significant cost reductions can be achieved by adopting a holistic enterprise archive platform, including significant savings back to the organization, return IT spend for innovation and investment, a stellar decrease in IT portfolio and, overall, an increase in enterprise efficiency, productivity and operational functionality.
What’s more, large enterprises that generate substantial and growing volumes of datafrom business applications must comply with a wide range of regulations, especially long-term data retention policies. Businesses today now risk fines, sanctions or reputational damage if data is not retained or secured.
The Digital Transformation
To survive in the digital transformation age, enterprises must embrace leading digital strategies and technologies driven to transform collaborative processes and operational efficiencies, as well as drive new levels of information management. The biggest benefit enterprises in today’s digital transformation landscape, in terms of making a true case for enterprise archiving, is creating a path for digital transformation – a path toward peak operational efficiency that leads to cost savings. Digital technology has and will continue to alter the landscape of business – and the functionality and operational productivity of today’s competitive enterprises.