Many companies believe that email archiving is only useful for referencing old email records from years ago. This is, of course, a vital function, but email archiving has a much more important part to play in the running of a business. The sad fact is that email archiving solutions often become essential after an email data loss or data breach.
Losing email archive data can be caused by a number of factors such as human error, a cyber attack and even a natural disaster. With a dedicated email archiving solution in place, email data loss can be planned for and even avoided altogether. If no archiver is used, the costs to a business can be astronomical.
So, how much can email data loss cost a company? Well, this depends on the scale of the loss or breach, but it will often be a significant problem especially if the business has to juggle regulatory compliance requirements with internal email policies. These factors can include:
- Industry regulations e.g SOX, HIPAA, CASL, UK Companies Act etc.
- Internal email policies e.g. confidential data, security clearance, email etiquette, sensitive information etc.
- Acceptable usage policies e.g. HR guidelines and rules, legal violations like sexual harassment and bullying over email etc.
- Intellectual property/copyright e.g. sales reports, trade secrets, business plans, legal tenders, financial records etc.
When a company has sensitive email data leaked, like Sony Pictures did earlier this year, the outcome can be expensive and highly disruptive. Imagine the shock of becoming the victim of a lawsuit regarding an email leak and then an eDiscovery request came your way that you couldn’t comply with?
To make matters even worse, the Poneman Research Institute calculates that the average cost of an email data breach is $6.6 million. Would you be able to afford to lose that much money?
The best way to ensure you don’t have to deal with this scenario is to invest in a dedicated email archiving solution. An archiver will keep logs of all corporate email activity and provide a central store where specific emails can be easily searched for. In addition, an email archiving solution makes eDiscovery requests incredibly simple.
Don’t become the victim of an email data breach. Plan ahead, make sure your archives are secure and purchase a robust email archiving solution.