Are you facing data storage regulatory compliance problems? Fortunately, data archiving is one of those areas where regulatory compliance can be made easy and effective if you have the right archival solutions.
But first, let’s understand what data archival is all about, and why it is different from the normal backups that you are doing.
What is Enterprise Data Archival
Data archival is the storage of all the data that you need to keep because it may be occasionally useful, but that it is no longer used in everyday operations.
Good data archival practices have many benefits, such as reducing the cost of primary storage, and as a direct consequence the cost of backup storage; having good original proofs in cases of legal problems; and very importantly, helping you avoid worrying about regulatory compliance.
Let us now examine some of the most important law requirements.
Data archival regulatory compliance relates to data that is still important and that maybe needed in the future, particularly in case of litigations. The following are the most important regulations that may affect your business’ data archival:
SOX (Sarbanes-Oxley Act):
This act was passed after the Enron scandal, and it is focused on financial reporting. It applies to any company that is listed on the NASDAQ or the NYSE. Its main concern is to implement controls that ensure the completeness, correctness and quick access of information. Within this law, some businesses are specifically targeted. For example, accounting firms that audit publicly traded companies are required to retain audit records for no less than seven years after the completion of an audit.
PCI DSS (Payment Card Industry Data Security Standard)
This is a standard that businesses using online payments are required to comply with, particularly if they use credit and debit cards, such as Visa or Mastercard.
The standard stresses information access permissions and, it is based on the Principle of least privilege. This principle basically says that access to information should only be granted to those who necessarily need it, thus, reducing the risk for the data to be compromised. In addition, it requires the use of encryption.
FINRA (Financial Industry Regulatory Authority)
Basically, FINRA aims at auditing banks and financial institutions, to ensure their good behavior. Among the most important requirements, FINRA 3110 entails that you preserve your accounts, records, memoranda, books and correspondence in conformity with all applicable regulations, statements, and rules under SEC 17a-3. Several other parts of this act, also relate to ensure SEC compliance.
Although you may think that if you are not in Europe, the General Data Protection Regulation (GDPR) does not apply to your business, you must be aware that it obliges any organization processing personal data of EU citizens, such as name, IP address, location, religion and ethnicity among others. Thus, if your company deals with clients in the EU, be sure that you abide to the GDPR requirements as of May 2018.
This regulation basically aims at protecting people’s information and presents new challenges for businesses. For example, Article 20 of the GDPR provides the Right of Data Portability. It basically says: if you’ve got some data about me, then I’m allowed to access it when I need it and to require you to provide it to anyone I choose. This applies to current and historical data.
Whilst regulatory compliance implies many efforts from your side, it can also be an opportunity to organize your data. The good news is that the pain implied can be reduced by having a sound reference architecture, and good data archival solutions.
Enterprise Data Archival: Introducing DBSync Cloud Replication and CDM
DBSync Cloud Replication and CDM is an application that helps you to concentrate on your business, not on compliance. DBSync assists you with this, by automating many of the tasks, increasing archival efficiency and reducing error generation; while keeping your business secure and cost-effective. Some of its most important features include:
· The possibility to auto-create a schema and new fields by synchronizing an application to a database.
· The possibility of having real time integration via outbound messages.
· The capacity to obtain data from an application, such as Salesforce, and a database. Then, merge the data, use it according to your needs, and load the results obtained back to the application.
Improving data management has become critical in our present days. To learn more about getting your organization’s data archival up to speed, go to our website (https://www.mydbsync.com ), where you can find more information about our data archival solution.