Updated: Sep 6, 2020
Microsoft announced last week that records management with Microsoft 365 is now available with the following functionality:
Label content as a record. Create and publish retention labels that declare content as a record that can then be applied by end users or auto.-applied by identifying sensitive information, keywords, or content types.
Migrate and manage your retention plan with file plan and use file plan manager to bring in your existing retention plan, or build new with file descriptors and expanding hierarchies.
Establish retention and deletion policies within the record label. Define retention and disposition periods based on various factors including the date last modified or created.
Trigger event-based retention with event-based retention.
Review and validate disposition with disposition reviews and proof of records deletion.
Export information about all disposed items with the export option.
Set specific permissions for records manager functions in your organization to have the right access.
Check out this blog post to learn more about Microsoft Records Management. Most of the functionality was previously part of Microsoft Advanced Data Governance, and this video explains it in more detail.