Redefining the Archive with Veritas Digital Compliance
Last month, Veritas released its Hidden Threat of Business Collaboration report, which revealed a number of interesting findings after polling 12,500 office workers across ten countries.
The way we work and communicate has changed dramatically over the past year. So, in this post-pandemic world, it should come as no surprise that 25% of the office workers we polled now spend more than half of their working day on instant messaging and business collaboration tools like Slack, Teams, Zoom, and WebEx.
However, it is surprising that the vast majority of these employees – 71% – admitted to sharing sensitive and business-critical company data using these same tools. This represents a huge paradigm shift in how these tools are being used – and the type of information that resides in them – from just a few years ago.
Companies no longer have the luxury of performing compliance-related tasks like archiving, eDiscovery, and supervision on just file folders and e-mail. Everything that was previously done via e-mail – whether it is processing an order, establishing a binding business agreement, or handling sensitive or confidential company information – is now done using all of these new tools.
This is further supported by another study conducted in March by Osterman Research, and sponsored by Veritas – “Why You Must Archive All of Your Business Records.” In that study, 111 IT professionals were surveyed, and 35% of the respondents are already archiving Teams content today. When asked if they plan to archive Teams content within two years, the number increases to over 50%.
Audio and video are also playing a major role in the compliance plans for organizations. According to the Osterman study, 36% of organizations are already archiving audio and video content today – and in 2 years, that number increases to 61%. Clearly, IT leaders are seeing the need to capture this content – even if they don’t have the ability to do so today. Compliance doesn’t stop at e-mail, or even collaboration and instant messaging – it encompasses everything.
When you consider the proliferation of new regulations and the accompanying fines, these trends are not surprising. According to research from DLA Piper, from February 2020 to February 2021:
- GDPR fines rose by 40%
- Penalties under the GDPR totaled $191.5 million
- Data protection authorities recorded 121,165 data breach notifications – 19% more than the previous 12-month period.
And the regulations now extend far beyond GDPR. More and more governments are taking action with their own data privacy laws, and existing data privacy laws are being expanded:
- As of January 2021, 133 jurisdictions around the world have enacted data privacy laws.
- In the U.S., 10 states are on track this year to pass new data privacy laws similar to the CCPA.
- Worldwide, there are at least 12 countries expected to enact their own new or updated privacy laws in the next two years.
- On January 1, 2021, the California Consumer Privacy Act's reach went beyond commercial business and into healthcare – having been expanded to include certain types of patient data.
Point products or add-on offerings that only support a specific platform are no longer the answer. Organizations require a compliance solution that is dynamic, comprehensive, and automated – and they need a technology partner that is committed to providing customers with the tools they need to quickly adapt to new regulations, new communication tools, and new operating models such as multicloud.
The new enhancements we are announcing make Veritas the ideal partner to support organizations of all sizes on their compliance journey – we are redefining the archive to meet the needs of today’s highly distributed workforces, multicloud environments, explosive use of new collaboration technologies, and increased compliance requirements.
With the latest Spring release for our Digital Compliance products, Veritas allows customers to:
- Visualize and Capture Everything – The enhancements to Data Insight and Merge1 help organizations eliminate compliance blind spots and capture over 110 content sources.
- Archive Anywhere – The enhancements to Enterprise Vault allow our customers to archive all of this content and move it seamlessly from on-premise to the cloud.
- Discover What Matters – The enhancements to eDiscovery Platform and Information Classifier make it easier than ever to optimize eDiscovery and supervision, and automatically identify the most relevant content – whether it’s PII, COVID patient data, or ransomware.
The shift to a virtual workplace, new threats such as ransomware, and rapidly expanding privacy regulations around the globe have created new security and compliance risks for organizations. Veritas is providing solutions that help our customers manage those risks.
Social media, instant messaging, and collaboration tools now play a critical role in employee communications, and all of it must be captured and classified so it can be discoverable and searchable in the event of a compliance audit or a litigation event.
Cybercriminals are engaging in double extortion schemes where attackers steal sensitive data, encrypt system files, and demand ransom. This is followed by threatening to publish or sell the stolen data if the ransom is not paid. Better insights into your data infrastructure are critical to advance data privacy and quickly understand what data types have been compromised.
The new virtual organizations we work in have also accelerated the shift to cloud that was already underway. As a result, Veritas is making it easier than ever for our customers to access the multi-cloud – providing options for them to archive data on-premise, or in leading public cloud services such as AWS and Azure… and they can seamlessly migrate their data to the cloud at any time they wish.
All of this means that Veritas is reducing risk and cost for organizations as they navigate these ever-changing data governance and compliance challenges. We help you close the data governance gap.
Merge1 is truly a pioneer product in the space. It's an easy set up solution for our many complex problems. The support team is top notch as well.
With all of these capabilities, it’s no surprise that Veritas is the choice of 73 of the top 100 financial institutions worldwide – or that Data Insight and Enterprise Vault have both been recognized as a “Customers’ Choice” in the most recent cycles of Gartner’s Peer Insights program. This distinction is based directly on feedback from hundreds of technology professionals and decision-makers who have hands-on experience with the products they review.
We are the only vendor:
- with the ability to capture over 110 content sources – even voice and video,
- with flexible deployment options on-premise or in the cloud,
- with a classification engine that is integrated across the portfolio, and
- with over 20 years of experience helping our customers manage their information governance challenges.
We are excited about the new enhancements to our portfolio, and please watch for more exciting news in the months to come! To learn more, visit https://www.veritas.com/solution/digital-compliance and listen to the replay of this morning's webinar: Redefining the Archive with Veritas Digital Compliance.
