What is time reference in SAP BC-ILM - Information Lifecycle Management?

SAP Term: time reference

• Component: BC-ILM

• Component Name: Information Lifecycle Management

• Description: Specification in the ILM rule. The time reference refers to an event in the document history, which is the determining factor for the start of the retention period, for example, the creation of the document. During rule evaluation the system determines the specific reference date in this example the creation date based on the time reference. The time offset, which is also specified in the ILM rule, can cause the reference date to be shifted for example, to the end of the relevant year. The shifted reference date is the start date of the time period to be calculated.

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• Key Concepts: 
  Time reference is a feature of SAP's Information Lifecycle Management (ILM) component. It allows users to define a timeline for the management of their data, including when it should be archived, deleted, or moved to another system. This helps organizations manage their data more efficiently and cost-effectively.
  
  How to use it: 
  Time reference can be used to set up a timeline for the management of data. This includes setting up when data should be archived, deleted, or moved to another system. The timeline can be set up in the ILM component of SAP.
  
  Tips & Tricks: 
  When setting up a timeline for data management, it is important to consider the needs of the organization and the data itself. For example, if the data is sensitive or needs to be kept for legal reasons, it may need to be kept longer than other data. It is also important to consider how often the timeline needs to be updated and how much time and resources will be needed for this process.
  
  Related Information: 
  For more information on SAP's Information Lifecycle Management (ILM) component and time reference feature, please refer to SAP's official documentation here: https://help.sap.com/viewer/product/ILM/en-US