There are many considerations when it comes to managing legacy recordings and data. One of the most critical is compliance. Many organizations, particularly those in the Financial Services industry, must comply with stringent regulations regarding the retention of recorded data, or else risk heavy fines and loss of business. In most cases, regulations are twofold:
- Recorded calls and other audio data must be retained for a certain period of time (the length of time varies based on industry and recording type)
- Recordings must be retrievable fairly quickly when the need arises
In addition, organizations are increasingly enacting internal guidelines that insist upon the retention of recorded calls. Internal compliance is important for risk mitigation and to protect sensitive customer information.
It is important to understand compliance requirements when deciding how to manage your legacy data. If your recordings are saved on a logger or discs and tapes that no longer meet your replay requirements, you may need to migrate your data to a more usable format.
When working with a third-party vendor to migrate your legacy recordings, be sure to discuss:
- Accuracy assurances
- The best way to reduce the risk of lost recordings
- What format type will best fulfill your future retention and replay needs
Contact us today with to learn more about the role of compliance in managing or migrating legacy audio data.
Tags: Compliance, Dodd-Frank Act, Financial Compliance, Legacy Product Support, Legacy Recording, Legacy Voice Management, Service