CEOs Risk Damaging Violations By Lagging Behind Latest eDiscovery Regulations Over 60% of Respondents in Metalogix Survey Cite Lack of Direction and Obsolete Data Retention Policies

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Many companies are exposed to significant risk by having no official email use and retention policies - smaller companies are especially at risk. CEOs are not informed, misinformed, or believe their organizations are compliant when that is often untrue.

As important as your actual policy is, you also need technology that captures and retains all of your electronic communications and attachments, seamlessly provides enforcement on retention and disposition, and helps legal counsel and others looking for certain emails and other electronic communications do so easily.

Metalogix Software (http://www.metalogix.net), a privately held Microsoft Exchange™ and Microsoft SharePoint™ migration and archiving company, today released the eCompliance and eDiscovery Report 2009, which identifies email archiving trends for 2009 (1). The report presents the results of a recent survey of over 1,500 U.S. and international corporate executives.
    The report concludes that many corporations need to revamp their strategies for eDiscovery compliance or risk consequences that could affect their bottom lines:

  •     CEOs have limited knowledge about eCompliance and eDiscovery and are therefore unable to communicate their specific expectations in these areas.
  •     Almost 50% of respondents do not know their CEO's expectations for compliance archiving.
  •     CEOs may believe that their organizations have legally compliant email systems ready for eDiscovery requests, but 43% of all respondents report that their organizations are not compliant today with all the regulations that affect them.
  •     Lost in space--1 in 4 organizations believe it impossible to locate a specific email, even if ordered to do so by a court of law. Respondents at those organizations who are able to find an email estimate they would need 4 or more days to do so.
  •     Outdated policies and procedures--nearly 66% of organizations still have policies that do not reflect today's economic and legislative realities; in fact, 75% use policies that omit technologies like SharePoint discussion groups and wikis.

These results are especially important for small- and medium-sized businesses (SMBs) because of recent amendments to the Federal Rules of Civil Procedure (FRCP), part 26. These rules state that both parties will have 30 days to grant access to data needed for evidence gathering. SMB companies that do not have the archiving and retention tools they need to comply will struggle to get them in time to avoid compliance penalties and adverse findings.

"Our survey results underscore the need to have an up-to-date and accurate policy in place for the disposition and retention of your company's electronic communications," says Chris Risley, CEO of Metalogix International. "As important as your actual policy is, you also need technology that captures and retains all of your electronic communications and attachments, seamlessly provides enforcement on retention and disposition, and helps legal counsel and others looking for certain emails and other electronic communications do so easily."

About Metalogix Software
Metalogix delivers award-winning content migration and archiving software that enables organizations to migrate, manage, and archive enterprise content to ensure availability, regulatory compliance, efficiency, and cost effectiveness. It supports its more than 2,000 customers worldwide from seven office locations: Boston and Dallas (US), Vancouver and Halifax (Canada) London (UK), Bratislava (Slovakia), and Schaffhausen (Switzerland). Originally founded in 2001, Metalogix of Canada merged with the archiving business of H & S Software in 2008. Profitable and privately held, Metalogix investors include Insight Venture Partners and Bessemer Venture Partners.

Please direct media questions and requests for interviews to:
Seth Kaplan
(978) 397-9958

To receive a copy of the report, click on this link: http://www.metalogix.net/offer/ediscovery-report/    

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Seth Kaplan
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