Cohasset Associates > The Role of Optical Storage Technology

Excerpt from The Role of Optical Storage Technology...

Increasingly, electronic records are defined in laws and regulations as being equal to traditional paper and micrographic records. This legal and regulatory evolution is recognition that the great majority of contemporary fixed content business and public records are now “born” electronic or converted to an electronic format. A second factor is that the volume of this fixed-content or “reference” information is growing at 50-80% or so per year – a growth that is well beyond the ability of an ever-expanding number of organizations to continue relying on manual intensive paper and micrographic formats as official records.

The majority of electronic fixed-content and reference records (like their non-electronic predecessors) must be retained in accordance with legal and regulatory requirements as well as for business needs. The risks of improper retention and management of records has grown substantially with the newly passed laws that embody penalties consisting of greater fines and jail terms such as is manifested in the Sarbanes-Oxley Act of 2002.

Private and public entities must understand and meet the formidable and critically important challenge of both understanding and operating in accordance with the applicable laws and regulations. To that end, they must reduce the legal, regulatory and business risks involved in the capture, storage, management and reproduction of their electronic records.
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