Manage episode 156770720 series 1200059
Join BearingPoint Senior Manager Pat Tobin as he explores the importance of Information Lifecycle Management (ILM) and how it can directly impact your bottom line. With a 50 percent growth in storage data of companies in recent years, the ILM Solution has evolved heavily over the past seven years. Companies that typically used a centralized system to store data now want much more control over their information and are turning to the ILM solution for that support.
The ILM Solution is also heavily used for E-discovery. With E-discovery costs on the rise, organizations are in need of a solution that assists with gathering only the necessary data, and not just a compilation of tons of document that are not needed. With every litigation suite, there is only a certain amount of documentation needed. Clients can experience massive cost decreases when just the necessary data is pulled.
With the many positives of designing an effective ILM solution come some struggles. Firms have legacy data all over the place. It is a very big obstacle trying to balance all of the data, plus input anything new. Another challenge is the need for a lot of governance. With all of the legalities, it’s extremely important to know the regulations and compliance issues up front. Lastly, an organization needs guidance on how to initiate this solution and where it should end. This is where BearingPoint can assist. ILM is a journey, but a journey worth pursuing. This journey will result in massive cost reduction and extreme efficiency for all your storage needs.