Compliance is a hot topic now, as organizations struggle to deal with a truckload of new regulations in areas of corporate governance, security, and privacy (see In 2004, It's Comply or Die). Unlike the Y2K craze of three years ago, though, these issues are permanent. Data retention and retrieval will continue to play a large role in compliance because regulations mandate that electronic records be kept for minimum periods of time -- often decades -- and be available for audits sometimes within days.
Bowles thinks it's a solid business to be in. The reality is, with the United States government passing more than 4,000 regulations a year, we think theres a future in this, he says. We dont think this business is ever going away.
Bowles estimates Sarbanes-Oxley compliance can cost individual companies hundreds of thousands and even millions of dollars in operating and capital expenses, which will be recurring annually for the foreseeable future.
His answer? By shelling out a bit more, you can get some help that could save at least some time and trouble: The institute gives IT professionals a place to turn as they face the challenges of corporate compliance. CFOs arent going to be in compliance unless IT takes the right steps.
Dave Raffo, Senior Editor, Byte and Switch
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