These days, companies don’t just struggle with the barrage of regulations coming in rapid succession, but where and how to store the data to ensure compliance. This twofold data challenge is putting tremendous strain on traditional (and outdated) storage methods – especially for heavily regulated industries such as banking, healthcare and telecom.
New data privacy regulations coming into effect ratchet up the urgency even more. In the past, companies could save personal data and prove integrity through audit trails, but now consumers will have the power to know what personal data is there and how it is being used, demand a copy of the data, and even delete it.
For example, take the European General Data Protection Regulation (GDPR), aimed at unifying and strengthening data protection within the European Union (EU). When GDPR goes into effect on May 25, 2018, it will have a profound impact on how any company located anywhere in the world that does business within the EU handles their customer data – with severe penalties for noncompliance.
This strict data protection compliance regimen is just one example of the many regulations global companies are dealing with on a regular basis. Regulation creep and sprawl are forcing companies to rethink their storage systems.
And the emphasis is on the plural: systems. Companies often lack one centralized data store to respond to regulatory changes, conduct searches, investigations and address other compliance issues. This means that regulatory management is a manual effort, one that is error-prone, time-consuming and costly for compliance teams.
These data silos evolved simply because that’s the way it’s always been done. Example: a business might use data storage for emails to respond to one regulation five years ago, but use another system for call recordings to address a new regulation that comes a year later. Unsurprisingly, as more and more data stores proliferate, it becomes an untenable web of storage when it comes to managing compliance.
What’s required is a proactive approach to consolidated data preservation and security that offers the flexibility, speed, and advantages made for compliance.
Consolidating data from multiple sources on one storage solution gives you the power to manage data in a “wholesale” manner and to apply policies for data movement. In a regulatory environment, these capabilities are huge benefits.
The Hitachi OBS Solution
Hitachi Content Platform (HCP) is the ideal and unique object storage solution to address the challenges of modern compliance for data storage. There is no other solution on the market that is built to respond quickly, effectively and accurately to regulations as they evolve over time.
Take the example of Rabobank a large global bank located in the Netherlands. This HCP customer was able to cut its compliance investigations down from weeks to hours.
HCP stands the test of time as a proven solution. HCP has been in the market for 10 years, with over 1,900 customers across the globe. HCP has earned industry praise from Gartner, IDC, ESG and 451 Research, just to name a few.
Regulations may be reactive and out of your control, but your data storage strategy doesn’t have to be. Isn’t it time to rethink how your business is handling compliance issues for the long term?
Learn more about how HCP can help you respond to complex data challenges more easily and quickly with one solution.