How Missing Emails Can Cost Companies Millions

By Karen A. Frenkel  |  Posted 05-20-2016 Email

Enterprises that fail to properly manage email for information governance purposes can face catastrophic consequences, according to a new survey. Two recent examples: Scottrade was fined $2.6 million in 2015 because it could not produce important emails for an audit. Barclays faced a $3.75 million lawsuit in 2013 over its alleged decade-long failure to properly keep electronic records, emails and instant messages. Software companies and Gimmal conducted the survey, "When the Last Mile of Information Governance Goes Horribly Wrong: the Risks of Failing to Treat Email as a Record." One hundred information governance leaders, 65 percent of whom work for companies with 500-plus employees and 40 percent who are at the C-level and include compliance officers, participated. "Overlooking the role of business emails in information governance and compliance programs can be a costly mistake, and many enterprises are still struggling to get employees to embrace proper record-keeping," said Yaakov Cohen,'s CEO. "The key to avoiding document chaos and complying with increasingly strict governance directives is to make the right thing the easy thing to do."

Karen A. Frenkel writes about technology and innovation and lives in New York City.


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