Firms that archive instant messages (IMs) have several options, and the best one is to keep IMs in the same archiving system where emails are stored. This enables a consistently applied policy, a single place in which to perform supervision activities, a reduced number of locations for search and discovery, and reduced training requirements, as well as standardization of storage management practices. For the most integrated indexing, search, and supervision experience, look for vendors that have close technical relationships -- where the IM gateway exports IM conversations directly as a file (e.g., XML) that is indexed within the message archive.
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