In 2020, the American Bar Association reported that 70% of law firms had received eDiscovery requests that year. This reflects the growing importance of electronic methods of communication in business. Common examples include emails, social media, and instant messaging. Companies must prepare for the challenges that arise by leveraging electronic communication archiving technology.
This technology facilitates the capturing, storage, and monitoring of electronic communication. It allows organizations to comply with regulations and eDiscovery requests while providing needed operational efficiency. The archiving of electronic communication also helps companies ensure the accuracy and compliance of their records.
So, what is the current state of this technology, what are the emerging trends, and what are the implications of its continued use? Keep reading to find out.
Current State of Electronic Communication Archiving Technology
This technology has come a long way over the past century and a half. It has also seen exponential and transformative growth over the past few decades.
A Brief History of Electronic Communications Archiving
The practice of archiving electronic communication is as old as electronic recordings. Many argue that it began with the birth of the phonautograph and the first human voice recording on April 9, 1860. Then, in 1876, Alexander Graham Bell invented the telephone. His words to his assistant on the first call were recorded as a transcript on March 10 of that year.
Types of Electronic Communications Currently Archived
Since the 1800s, recording methods have grown to match new forms of electronic communication. Here are some common types that organizations currently capture and store:
- Email: Email archiving facilitates compliance with regulations and eDiscovery requests while optimizing storage and performance.
- Social Media: Social media archiving tools capture, store, and analyze posts from popular social media platforms such as Facebook, Twitter, and LinkedIn.
- Instant Messaging: Archiving tools can capture and store data from chats, including rich media, such as .gifs, voice notes, and PDFs.
- Text Messages: Archiving technology captures and stores text messaging, including group texts and MMS.
- Phone Calls: Many electronic communication archiving tools can record and store phone conversations, including voicemail messages.
Limitations of Current Archiving Solutions
While electronic communication archiving technology is powerful, it has its limitations. Consider the following:
- Archives generate a large volume of data, and storage can get expensive.
- Archiving solutions do not typically provide the real-time monitoring of electronic communication.
- Some software solutions struggle to handle communications from multiple sources and platforms.
Emerging Trends in the Technology Used for Archiving Business Communications
The electronic communication archiving industry is evolving to meet the demands of a changing regulatory landscape and customer needs. Here are some of the top trends driving the industry.
Artificial Intelligence and Machine Learning
Developers increasingly apply AI and machine learning to electronic communication archiving solutions. This technology can help organizations reduce compliance costs and improve search accuracy. It could even help companies detect insider threats in real time.
Companies now rely on AI and machine learning to accomplish the following task:
- Detect the conversations that need to be archived
- Detect conversation duplicates
- Confirm the identity of people accessing the data
- Facilitate keyword search
- Automate eDiscovery workflow
Because of the large volume of data, companies prefer cloud services for archiving electronic communication for business. Here are some of the benefits cloud services bring to the archiving process:
- Cost savings: Cloud services reduce the costs associated with electronic communication archiving and enable companies to scale their solutions as needed.
- Security: Cloud-based solutions are highly secure and meet industry standards for compliance archiving and data privacy.
- Flexibility: Cloud-based electronic communication archiving solutions can be easily adapted to meet changing customer needs.
Increased Focus on Security and Privacy
IBM estimates that 83% of companies will experience a data breach, often more than once. Data breaches affect service providers and their clients, so companies must address data security from both ends. Archiving service providers use encryption technologies to protect sensitive information and access control measures to restrict unauthorized access. Companies must teach and enforce best practices for data protection.
Integration With Other Business tools
This is a crucial factor when considering the archiving of electronic communication for business needs. Service providers must offer tools to integrate with existing business systems, such as CRM and ERP systems. It helps to create an efficient, streamlined workflow.
Future Implications of Electronic Communication Archiving Technology
The electronic communication archiving industry will continue to grow significantly in the coming years. Here are some effects we expect to see as a result.
Increased Accuracy and Efficiency
As communication archiving technology continues to evolve, companies will be able to store and analyze data more accurately and efficiently. This could further reduce compliance costs, especially in the form of labor hours.
Better Compliance and Regulatory Support
Organizations will likely increase their focus on security and privacy when it comes to electronic communication archiving. Service providers must ensure their solutions meet compliance and regulatory requirements.
Improved User Experience
As archiving technology continues to evolve, companies will be able to deliver better user experiences. That begins with the onboarding process. It also includes how archiving systems affect device functionalities and how effectively people can search for conversations.
Greater Organizational Insights
The data collected through electronic communication archiving can provide valuable insights into customer behavior, trends, and preferences. Companies can use this information to develop more effective business and communication strategies.
Why Your Business Needs Electronic Communication Capturing and Archiving Technology
Organizations need archiving technology to reduce compliance costs, improve search accuracy, detect insider threats, and ensure data security. Cloud-based communication archiving solutions offer cost savings, increased security, and flexibility and can integrate with other business tools.
The growth of the electronic communication archiving industry will continue to generate more useful features for businesses. However, managers will likely want to see real-time monitoring capabilities in the future. Service providers may achieve this via integration with software provided by cybersecurity firms.
How LeapXpert Can Help
LeapXpert’s cutting-edge, mobile-first platform offers an intuitive user interface, allowing users to communicate confidently through the world’s most popular messaging applications. Our platform empowers employees to instantaneously communicate from within a unified and secure environment to clients or external parties using their preferred consumer messaging application — anytime, anywhere. All communication is governed and managed at an enterprise level in line with compliance archiving and privacy requirements.
Contact LeapXpert today for more information on The LeapXpert Communications Platform and to schedule a demo.
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