June 2021 Summaries

Organizations must protect and manage their valuable content, such as contracts and employee files, to meet business and regulatory obligations, but not all of it needs indefinite retention. The rising cost and risk of over-retention, driven by factors like increased eDiscovery expenses, compliance challenges with privacy laws such as GDPR and CCPA, and productivity loss from sifting through obsolete content, highlight the importance of event-based retention strategies. Event-based retention ties the retention period to specific business events, such as contract renewals or employee departures, rather than just creation dates, allowing for more efficient content management. Box offers flexible retention policies, enabling organizations to apply these policies globally, to specific folders, or through metadata, and has introduced enhancements to trash policies to balance content cleanliness and loss prevention, including a new "Policy Only" option that restricts trash emptying to automated policies. These solutions aim to improve compliance and productivity while reducing unnecessary risks and costs associated with content over-retention.

As financial services increasingly prioritize digital-first experiences, companies like Ameriprise Financial are transforming their approach to content management to keep pace with regulatory requirements and customer expectations. Ameriprise Financial's Vice President of Technology, Jay Witthuhn, highlights the evolution of Box from a simple cloud storage solution to a central hub that supports innovation through automation, analytics, and integration across the company's ecosystem. By leveraging Box’s capabilities, Ameriprise can facilitate a seamless and secure experience for its advisors and customers, integrating various tools and applications to create a unified platform. This shift reflects broader industry trends where collaboration and integration are tailored to meet the specific demands of regulated industries like financial services, ensuring compliance while enhancing digital engagement. The company’s partnership with Box exemplifies how financial services are adapting to meet the new norms of remote and digital business operations, emphasizing the need for tailored solutions that align with industry-specific security and regulatory frameworks.

Box has developed a robust partner ecosystem with over 1,500 integrations to enhance productivity and workflow in the modern workplace, focusing on seamless collaboration across various applications. A notable addition is the new integration with ServiceNow, which aims to accelerate content process automation through Intelligent Content Management, providing a secure platform for unifying content across compatible apps. Box's strategic partnership with ServiceNow includes the Box spoke for the ServiceNow IntegrationHub, launched in 2018, featuring over 20 Box actions to automate content-driven workflows and boost efficiency. The collaboration enhances content management, visibility, and security, ensuring compliance with regulations. The latest pre-built integration between Box and ServiceNow's Legal Service Delivery modernizes legal workflows by eliminating silos and manual steps, allowing secure storage of sensitive documents in Box, which can be accessed through the ServiceNow Store.

Box has introduced an enhanced Box Shuttle program, offering both self-service and advanced migration tools for organizations transitioning from legacy systems to its platform. The new self-service tools allow customers to migrate up to 10 terabytes of content for free under specific conditions, easing the transition to Box by handling content, version histories, metadata, and permissions structures. For more complex migrations, Box Shuttle's advanced tooling supports a broader range of source systems and offers detailed permissions mapping at a significantly lower cost compared to competitors. Additionally, Box provides managed and enablement services to assist organizations with the technical and change management aspects of their migration projects. Since the launch of the new Box Shuttle, there has been a notable increase in managed migration projects, and Box is continuing to expand its infrastructure capacity to meet growing customer needs, underscoring its commitment to leading the digital content revolution.

The Work Unleashed series by Box explores how companies navigate modern work environments, offering insights into effective remote work and data security strategies. Anne Coulombe, Head of Data Protection at MassMutual, shares her experiences in managing IT challenges like data classification and encryption within the insurance sector's evolving regulatory landscape. Emphasizing a cloud-first approach, she highlights the importance of adopting zero-trust networks, engaging end users in data protection practices, and ensuring data portability. Coulombe also stresses the significance of building cooperative ecosystems to tackle supply chain vulnerabilities and enhance cybersecurity across industries. Her recommendations aim to optimize content security while adapting to continuous innovation and evolving threats, advocating for a shift from traditional to cloud-based data systems.