Bloomberg acquires Netbox Blue

Analyst - Forrester Research

Netbox Blue has worked closely with Forrester Research analysts to understand the growing demand for Social Risk Management and Archiving.

Forrester Research has identified Netbox Blue as one of the leading providers of Social Risk Management and Archiving services.

In a Forrester Research report* dated 9th March 2015, entitled 'Market Overview: Social Media Arching', Forrester provided the following insights and advice.

"Work Toward a Comprehensive archiving strategy

An archiving strategy focused on email as the sole method for workforce communications is ill-suited to handle the dynamic and more complex data that results from social communications. To manage the numerous channels your workforce uses, develop a flexible strategy that preserves the full context and formatting of every social channel."

The report went on to provide further details and recommendations.

"Disruptive technology trends such as mobile, social, and cloud wreak havoc on information governance. Many compliance professionals still struggle to meet archiving and eDiscovery requirements with email, and now employees are using social and mobile channels, which are even harder to control. Their dynamic format creates headaches for those responsible for ensuring the authenticity of social posts and preserving related context — including author, location, and ensuing discussion threads. Social archiving vendors help meet these emerging challenges with tools that directly capture social posts, fully recreate metadata, and enable quick, intuitive searches to handle review and supervision tasks."

"More metadata and context have created new archiving headaches. To effectively archive social media conversations and ensure that the full intent and scope of social discussions are preserved, you have to capture additional data points that weren’t necessary or didn’t even exist in the past."

"Regulatory requirements are stricter and extend to all forms of communication. Many regulatory bodies — such as the Financial Industry Regulatory Authority (FINRA), the Federal Financial Institutions Examination Council (FFIEC), the Federal Trade Commission (FTC), among many other state, federal, and foreign government authorities, require organizations to archive social media communication just as any other form of electronic communication. These obligations even extend to all related metadata of social media as well."

"As social channels gain relevance and email gets relegated to just one of many communication channels your workforce leverages, your archiving and retention strategy has to follow suit. You can’t change your strategy overnight, but you can begin building flexibility into your processes to capture data across all workforce communication channels, as well as inbound social communications. This will help improve the efficiency of your program and prepare you for new channels your workforce adopts down the road."

"Social archiving vendors are gaining traction quickly, with interest growing especially among large enterprises in heavily regulated industries."

One of the final recommendations made particular emphasis on the need to enable active compliance - to avoid issues occurring in the first place:

"Consider capabilities that enable active compliance and policy enforcement. Some social archiving vendors also provide capabilities to help ensure your workforce adheres to corporate social policies before they officially publish posts onto their respective accounts. Through API, proxy, or corporate network integration, these platforms monitor account activity and will automatically trigger review and approval processes for social posts prior to publication. These features can act as an additional compliance layer, and mitigate reputational as well as information security and privacy risks inherent in widespread workforce social media engagement."

In another Forrester Research report**, the Forrester WaveTM: Social Risk and Compliance Solutions, Q2 2014, the following table shows the top priorities for firms looking for a Social Risk Management (SRM) solution:

Forrester Research's report** "Archiving Platforms Evolve Into Sources of Insight and Corporate Memory" by Cheryl McKinnon on 27th March 2015 states:

"Innovation is happening in the information archiving market. Archiving vendors have evolved well beyond email capture. Social media, cloud applications, and mobile devices are now channels that your firm can use to communicate with customers, and archiving vendors are keeping pace. It is time for enterprise architecture (EA) professionals to consider how to use systems of record, such as archive platforms, as rich resources to support business mission. Technology managers may overlook critical corporate documents and customer communications, even as analytics and data mining initiatives heat up."

"ARCHIVED CONTENT IS AN UNTAPPED SOURCE OF BUSINESS INSIGHT
Enterprise architects have an obligation to shed light on the untapped sources of customer and operational intelligence. Corporate archive repositories are one of these oft-neglected sources. Years of collected customer communications, contracts, agreements, complaints, and correspondence often sit untouched — unless someone threatens a lawsuit. Regulated industries, in particular, were early adopters of archiving platforms. Capturing email, data from line-of-business applications, or content from file shares is commonplace, but the drivers have historically been compliance and storage cost reduction — not the meaningful analysis of customer or employee content."

"Enterprises must begin viewing their archival repositories as sources of corporate memory and institutional knowledge."

"Archive platforms that offer automated ingestion based on business rules, dates, or other event triggers, can make it easier to consistently capture business records."

"ARCHIVES WILL EVOLVE INTO A PRIMARY SOURCE OF CORPORATE MEMORY
Archive repositories have the opportunity to serve as critical systems of record for customer communication, business decisions, and digital knowledge with lasting business value. Enterprise architects must stop viewing archived content as dead, static data kept only to meet the needs of lawyers and records managers. Seek vendors that invest in scalable search; new-generation analytics; mobile-friendly user interfaces; and connectors for social, cloud, and collaborative content sources. EA pros with an archive platform refresh on their road map must recognize that:
Gaps in corporate memory go unnoticed today. Corporate retention policies often leave out new forms of communication and content. Social media, mobile messaging, and collaborative applications will become the next eDiscovery Achilles heel — as email was over the past decade.
Technology must play a bigger role, automating message and content capture. As users struggled to adopt traditional records management technologies, gaps formed in the collection and preservation of business decisions. Archiving vendors can help automate this capture — based on rules, policies, or other triggers."

Forrester clients can access these documents from www.forrester.com.

g' by Nick Hayes and Cheryl McKinnon, March 9, 2015
**Citation: the Forrester Wave: Social Risk and Compliance Solutions, Q2 2014, by Nick Hayes, May 7, 2014
Forrester Research publications consist of the opinions of Forrester's research organization and should not be construed as statements of fact. Forrester disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.