What is retention period in SAP BC-ILM - Information Lifecycle Management?

SAP Term: retention period

• Component: BC-ILM

• Component Name: Information Lifecycle Management

• Description: Period of time, required by law, which documents must be retained. In the SAP system, the ILM rules define the duration of the retention for each ILM object. Based on these rules, the system determines the start date and end date of the retention period. After the retention period has expired, the data can be destroyed.

Smart SAP Assistant

• Key Concepts: 
  Retention period is a feature of SAP's Information Lifecycle Management (ILM) component. It is used to define the length of time that data should be kept before it is deleted or archived. The retention period can be set for individual objects, such as documents, or for entire systems.
  
  How to use it: 
  Retention periods can be set in the ILM configuration. The length of the retention period can be specified in days, weeks, months, or years. Once the retention period has been set, the system will automatically delete or archive data that has exceeded the specified time limit.
  
  Tips & Tricks: 
  When setting a retention period, it is important to consider the legal requirements for data retention in your jurisdiction. It is also important to consider the business needs of your organization when setting a retention period. For example, if you need to keep certain documents for audit purposes, you may need to set a longer retention period than you would for other documents.
  
  Related Information: 
  For more information on SAP's Information Lifecycle Management component and how to configure retention periods, please refer to SAP's official documentation at https://help.sap.com/viewer/product/BC-ILM/latest/en-US.