Retention Policy Manager is a software package that uses business rules and legislation intelligence to manage corporate retention policy and procedures. The application helps organizations ensure that policy is properly executed uniquely combining a rules based approach with a global legislative retention database supporting industry specific regulations and codes of practice.
With Retention Policy Manager, external regulations, industry best practice and corporate policy are codified, and compliance controls automated. Records, related documents and data are annotated with the with the appropriate retention period. Potential problems are identified and workflow controls ensure appropriate action is taken. The system achieves this by using a flexible structure of events, rules and actions which are allocated to implement policy rules and allocates to individuals or teams where necessary.
Retention Policy Manager controls a reference database of all the common documentation found in an organization and this used to create the retention schedule. The system maps paper and electronic records, documents, and archives to the customized classification scheme and the relevant legislation and hence the retention period.
Records can be comprised of any type and located in different systems and can also be a reference to physically stored documents.
The software provides a customized view at user, department or company level, and is presented in the form of a dashboard showing the results and level of activity with alerts to highlight items requiring immediate action.