Hosted, Web-based Solution Helps Companies Manage, Monitor and Audit Records
Retention for Compliance and Litigation Requirements
BOSTON, and SAN ANTONIO, Texas, Oct. 23 /PRNewswire-FirstCall/ -- (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:
- 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.
- 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:
- Identify records repositories that contain the information needed for
discovery and compliance audits.
- Create, publicize and enforce a retention schedule to ensure systematic,
"good faith" disposition activities, and eliminate discovery "surprises"
associated with records in storage.
- 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:
http://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.
CONTACTS:
Derek Delano / Sara Steindorf
Weber Shandwick
ddelano@webershandwick.com
ssteindorf@webershandwick.com
(617) 520-7120 / (617) 520-7259
SOURCE:
Iron Mountain Incorporated