Public Social Networks

(Like, Favorite, Retweet) + (Compliance, Security, Governance) = Risk Mitigation

From building corporate buzz to finding new sales opportunities, it's hard to question the impact the public social networks like Facebook, Twitter, and LinkedIn have had on today's businesses. That's why it's so important to have the right solutions in place to make sure you don't end up in the news or courtroom as a #socialmediafail.
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Risks can rear their heads in many ways. It could be in the form of data retention requirements mandated by specific regulatory bodies. It could be monitoring or security obligations stemming from corporate governance guidelines. Ultimately, though, companies strive to mitigate their risk exposure. And crucial to that is a rock-solid social media management program.
Good corporate governance

Most organizations have acceptable use policies that detail how employees should behave and what content they can share on social networks. These policies are implemented for a number of reasons. More often than not, they are there to help protect the organization’s brand image and to prevent public exposure of sensitive information. In order to ensure compliance, effective social network management must include the ability to control access and monitor content wherever possible and in real-time.

Litigation preparedness

Any organization can be involved in litigation, so from a social network management perspective, it makes good business sense to have a strategy in place to ensure your organization is optimally positioned to respond to a discovery request, if necessary. Employee social networking activities and the content they have shared are all considered Electronically Stored Information (ESI) by the courts. This ESI may have to be produced quickly and accurately to avoid costly sanctions that can cause legal costs to skyrocket. Improving efficiency and accuracy requires having the right technology in place that can simplify these tasks for litigation support staff.

Regulatory compliance

Nearly all organizations are subject to some type of regulatory compliance requirements. Even those that do not operate in regulated industries like energy, healthcare, pharmaceuticals and financial services may find themselves subject to Sarbanes-Oxley, which applies to all public companies. Public companies that use social networks to disclose financial results may have to retain those records for production later. Failure to comply with these regulations could result in stiff penalties and fines. 



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