Letter: Compliance on a budget

However, while it is undoubtedly important for all businesses to prioritise their data according to compliance and business requirements, it's unfortunately often the case that the implementation of an information lifecycle management (ILM) strategy remains woefully out of reach, particularly for SMEs.

SMEs have few of the resources of larger businesses, and the priority for them is to efficiently store and retrieve business-critical data as and when it is needed. If it isn't possible to implement an ILM strategy, solutions such as online storage and backup can enable a small business to remotely and securely store its data and begin the process of ILM at a realistic cost. Access to data stored online from any device or location also means that compliance is made much simpler, making this kind of solution ideal for companies with limited resources.

Dermot Mooney, CEO, Central Databank.