August 07, 2007
EDD -- ILM Needed to Take Out the Trash
This Law.Com article by Stanley M. Gibson, "Hit 'Delete' to Prevent EDD Disaster", tells the tale of how a company was ordered to produce millions of electronic documents and e-mails spanning over half a decade to the losing tune of a $570 million judgment. That's in addition to the costs incurred for legal fees and allocated costs of collection, restoration, conversion, review, and production of the data.
Unfortunately, hitting "Delete" is not sufficient. If nothing else, the result just became a compelling benchmark of why implementing ILM (Information Lifecycle Management) can indeed be cost justified. If a company may have to pay millions (or perhaps billions in the total tally), why not invest that money -- proactively -- into a solution that reduces financial risk and produces tangible operating benefits to its users in terms of structured data management and collaboration ease? As real-life EDD examples such as this continue to occur, an effective ILM implementation with proper policies, training, and management reinforcement could very well be the gift that keeps on giving.