In today’s digital age, email no longer holds a monopoly on business communications. Workers across the globe are increasingly leveraging devices and applications such as texts, WhatsApp, Slack, Teams, and countless other tools to communicate with coworkers, clients, and prospects. This shift has certainly expedited communication and improved the fluidity of team collaborations, but it also carries its own set of regulatory complexities and compliance challenges.
Government bodies, such as the U.S. Department of Justice, have drawn attention to the need for corporations to retain, monitor, and if necessary, produce records of such communications. This task, given the diversity and volume of platforms in use, is far from straightforward.
Eric Baim, Partner at Dovetail Consulting Group, emphasizes this point further in a recent JD Supra business law report. Baim advises that simply focusing on the capability to produce these communications is insufficient. The prospect of production isn’t the only worry – it’s also about how regulatory compliance is being maintained throughout the lifecycle of these diverse communications.
Leaders of compliance teams, according to Baim, need to fortify their efforts and look beyond the mere production of records. There must be systems in place to ensure messaging apps and other digital communication platforms are held to the same standards of compliance as traditional email and document exchanges.
Baim’s insights underscore the pressures and intricacies of data governance, regulatory compliance, and risk management in the era of digital communication technology. Ensuring compliant business communications is an increasingly complex task with the proliferation of communication tools. Yet, it’s one that cannot be overlooked if firms are to navigate today’s ever-evolving digital landscape effectively.