In a bid to secure corporate information subject to regulatory compliance, enterprises the world over are questioning the effectiveness of traditional centralized records management solutions. The problem lies not as much with the technical workings as it does with the social aspects of the solution. The simple fact is that users often omit the step of actually shuffling documents off to a centralized server. For most people, this extra task is nothing more than a time consuming chore. Vendors who recognize and address this problem are bubbling to the top, and with good reason.According to the Gartner Group, 80 percent of corporate documents such as spreadsheets, contracts, proposals and presentations reside on users’ desktops. Worse for GRC managers is that many documents are not even stored on desktops, as users do not find it obligatory to download all email attachments.
In a recent observation from Vanson Bourne Consultancy, on an average, a full 25 percent of such documents are subject to regulatory compliance. What percentage of these documents are living outside the realm of current records management either on the desktop or in the various nooks and crannies in between?
NextPage, a privately held company headquartered in Draper, Utah, is keenly focused on this question. The company provides document tracking services to enterprises for managing the compliance policies around Microsoft Office documents. NextPage Document Retention, an information risk management solution, helps employees comply with document retention policies with a goal of not levying impractical restrictions on the people who create them. Its designed to eliminate the risk of documents stored on the edge of businesses -- in email, on removable drives and on individual hard drives.
Recently NextPage Document Retention was conferred a prestigious CODiE Award from the Software & Information Industry Association (SIIA) for Best Document Management Solution. What makes this notable is that NextPage made the cut from approximately 1200 submissions, the most to date in the 21-year old history of the awards.
An elated Darren Lee, President and CEO of NextPage, said in a statement, “Receiving an award based on the review and recommendation of leading industry experts and our peers in the industry is a key milestone and strong validation that NextPage Document Retention is a solution that large enterprises and organizations should seriously consider.”
“We have successfully built a solution that reduces the risk of information on the desktop and ensures compliance to document retention policies,” Lee added.
NextPage Document Retention tracks document versions across email, hard drives, removable media and servers, making it easy to purge working copies and post final drafts to a central server for the purpose of archival and lifecycle management.
According to a research from the Tower Group, document retention policies continues to fail at the desktop, with only 60% of companies having written retention policies and 30% of those actively enforcing it. This implies there is significant risk in the estimated 7.5 billion Microsoft Office documents created annually.
NextPage have taken aim at a real problem and the CODiE award is at least one indication that they've hit close to the mark.