Related to the aforementioned legal issues is the question of records retention
All recorded information across the entire enterprise will become subject to retention and disposition policies
Wouldn’t it be cool, though, that if in addition to being able to work with the content and share it with collaborators (the work variety, not the WWII Nazi variety) the content could also be appropriately tagged, filed, and placed under retention at the point that I plunk it into the repository?
Add yet another headache for records management...That should be ample opportunity to copy it to a PC and then let the records management system take control
Monica currently serves as Corporate Records Manager for Land O'Lakes
My presentation was on "Social Media and Records Management: Operational Benefits and Legal Challenges"
And, the president's 2012 Managing Government Records Directive details the National Archives and Records Administration to promote cloud-based services to store and manage electronic records
Systems meeting those standards provided the things that shared drives lack, such as the ability to: define custom metadata for documents and folders apply version control to documents lock down documents as records share documents across team boundaries hold a fileplan hold retention and access rules apply retention and access rules to records via a fileplan The problems for these systems, and for the records management specifications that lay behind them, came when the platform owner, Microsoft, started to move to expand its platform, and to fill in some (but not all) of these holes itself
One thing is clear however; “organizations are required to retain records of communications related to the broker/dealers business that are made through social media sites”. This means every organization must ensure that it can retain records as required by SEC Rules 17a-3 and 17a-4 and NASD Rule 3110. "If it exists, it is discoverable" Social media data fits the definition of Electronic Stored Information (ESI) and thus businesses must deal with the issue of preserving and when asked, producing social media data that falls under the data retention policy
And what about Records Management, compliance, eDiscovery and those nasty governance issues?