The right strategy to data retention can help avoid fines, saving both the seller and the buyer millions of dollars. Not to mention, saving companies from the potential negative impacts on image and reputation. An industry-typical example is a product recall down to patient level. It is important that both companies are properly prepared to provide a full batch genealogy including all manufacturing and distribution records, even if the impacted batches were manufactured years ago in the legacy environment. Providing such data can be simple, if all legacy systems and all data records are transitioned to the buyer (transition of the complete ownership of a company), but can be highly complex if only specific product lines, products or manufacturing sites are acquired, and critical data cannot be easily extracted, validated, and migrated into the buyer’s systems.
Looking at the example of a batch recall down to patient level, we have implemented the following data retention strategies for our clients:
- Full migration of batch genealogy into the buyer’s production systems
- Partial migration of batch data
- Zero migration of batch data, setting up a Transitional Service Agreement (TSA) between buyer and seller, ensuring critical data is provided for critical events by the seller within a predefined timeframe
The more complex the deal is, the more challenging the data retention strategy and integration is. This especially holds true when processes and data on the seller’s side were not setup or prepared for the foreseen divestment. Companies must not underestimate Data Retention when considering a successful integration of businesses.