PORTLAND, Ore., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Exterro, a leading data risk management software company, today announced the launch of its updated Exterro Data Retention, the world’s most trusted solution for developing defensible global data retention schedules. With Exterro Data Retention, enterprises can streamline the implementation and maintenance of retention schedules across the entire organization, providing a clear audit trail and enabling users to easily communicate the retention schedule and its requirements to both internal and external stakeholders.
“The latest release of Exterro Data Retention will have a significant and immediate impact on businesses’ ability to retain control of their data,” said Bobby Balachandran, founder and CEO of Exterro. “This new, revolutionary solution offers unmatched comprehensive coverage, aligning over 750 types of records with retention regulations and best practices across more than 300 jurisdictions. The result is an intelligent, robust framework that enables organizations to establish a global retention schedule, adhering efficiently and effectively to the best practices for data retention. Additionally, through its powerful combination with Exterro Data Discovery, the solution automates the enforcement of data retention schedules across an organization's entire data ecosystem.”
Exterro Data Retention is unique in its ability to capture a broad range of record types and personal and sensitive data, along with their context, and then map these records to precisely tailored retention rules to optimize data risk management. Its streamlined workflows and collaboration features save significant time for employees, enabling them to focus on higher-value activities. The solution draws upon a comprehensive regulatory library of US and international regulations and best practices that are easily actionable with the use of other tools in the Exterro platform. When coupled with Exterro Data Discovery, it also enhances data security with defensible deletion, intelligent reporting, and proactive alerts regarding retention and disposition obligations, significantly diminishing the risk of cyber breaches.
“The onslaught of new privacy laws and frequent updates drove us to take a closer look at the policies we needed to implement in order to have a consistent approach to data retention/disposition,” said Ree Harper, General Counsel and Sr. VP Human Resources at LyonsHR. “Exterro’s Data Retention solution has been a critical part of our overall data risk mitigation, privacy and compliance program. Maintaining a centralized approach to management and defining when data can be deleted has proved to be an important tool in our compliance toolbox.”
Exterro Data Retention offers unique features for enterprises seeking tighter control over their data, including:
- Wide-Ranging Records Coverage: The solution features more than 750 out-of-the-box records encompassing various business functions and data types, enabling streamlined management of both electronic and physical records and effortless development of a global data retention schedule.
- Mapping to Comprehensive Regulatory Library: Exterro Data Retention meticulously maps its records collection to a comprehensive library of global retention regulations and industry best practices, spanning more than 300 jurisdictions and nearly 300,000 citations.
- Harmonization of Complex Global Retention Requirements: The solution expertly balances conflicting retention requirements across multiple jurisdictions, enabling seamless compliance and efficient records management globally.
- Robust Collaboration Features: Exterro Data Retention enables stakeholders both within and outside the organization to collaborate in real time on the creation and updating of retention schedules. It provides a notification system, allows easy publication of the current version of retention schedule both internally and externally, and facilitates simultaneous access for multiple users to work on the same retention schedule, ensuring efficient and effective collaboration.
- Comprehensive Audit Trail: The solution maintains detailed records of all changes and communications in the retention schedule, providing a clear audit trail in regulatory investigations and demonstrating transparent, responsible record handling.
- Roles-based Access Controls: Exterro Data Retention enables organizations to segregate a user’s access to only the record types relevant to their specific roles, safeguarding privacy and security.
In addition to boosting operational efficiency, the solution helps organizations minimize the risk of fines and penalties, reduce the risk associated with data breaches and associated costs, and reduce data storage costs.
"Given the importance of data stewardship and data minimization, a product like Exterro’s that takes into account the competing requirements of international regimes and is built around ongoing customer support and flexibility is an asset to any organization’s comprehensive privacy compliance efforts,” said Christy Hawkins, Partner, Consumer Financial Services, Data and Technology (CFS+) Akerman.
Exterro, Inc. is the preferred provider of data risk management software designed specifically in-house legal, privacy, data governance and IT teams at Global 2000 and Am Law 200 organizations. Exterro Data Retention is available now. To learn more details about the product, please visit https://www.exterro.com/privacy-software/data-retention/
About Exterro, Inc.
Exterro empowers organizations and law enforcement agencies to achieve better legal, regulatory and investigation outcomes, save money, and minimize the impact of threats by addressing data risk. Its data risk management software is the only comprehensive platform that combines data discovery, automation, workflow optimization, and responsible AI to provide insight into and control over the complex interconnections of privacy and data governance, legal operations, digital investigations, cybersecurity response, and compliance. Thousands of teams around the world in corporations, law firms, managed services providers, and government and law enforcement agencies trust Exterro to manage their risks and drive successful outcomes at a lower cost. For more information, visit www.exterro.com
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