Organizations are required by law to retain certain documents for specified periods of time. For example, organizations need to retain invoices for a period of seven years as per government regulations. Organizations may find it difficult to retain documents as per government guidelines as there are multiple types of documents, each having a different life-cycle and retention period. For ease of use it is best to archive these files and move them to a separate database (DB) when they are no longer required for day to day operations. Organizations also need to ensure that the documents are deleted after the retention period is over to eliminate the risk of a data breach and to comply with privacy legislation.
GLOBODOX’s document retention module helps organizations to retain documents for a specific time period as required by law. It enables them to archive the documents automatically and move them to an archive DB, which is separate from their live DB to ensure that the documents are available with the organization, yet don’t add to the clutter. The archive DB structure is a replica of the live DB. The documents and indexing information in the archive DB cannot be modified or deleted by users.
The document retention module also allows users to have the documents deleted automatically after the retention period is over or have the files moved to the Recycle Bin. The organization can then decide the future actions to be taken on the documents.