From social media to text messages to instant messages, compliance is challenged to stay ahead of the rapidly expanding scope of business communications. Gaps in governance abound as policies, archiving and supervision fail to keep up, introducing still greater risk for firms.
The compliance perimeter—those electronic communications channels and devices in use at an organization that require governance policies and retention/supervision solutions—is expanding, creating additional burdens on compliance teams.
Beyond the Perimeter: The Compliance Gap
It is the content of the message that determines its status as a business record. Compliance professionals need to supervise all types of business communications, even when messages reside on personal devices and social media accounts. Making this a reality, however, presents challenges, and compliance to-date has not kept up with implementing archiving and supervision systems for all the communications channels employees are allowed to use for business.
While compliance has made some progress to keep pace with these new channels – for instance, companies with policies governing the use of web conferencing platforms rose to 61 percent in 2016, up from 50 percent in 2015 – these gaps are not closing.