Systems, methods, and computer program products manage retention of data associated with a business record are described herein. In one embodiment, a computer-based system to manage retention of data associated with a business record comprises at least one processor and logic instructions stored in a tangible computer readable medium which, when executed by the at least one processor, configure the at least one processor to determine whether the business record has reached a record retention threshold, and in response to a determination that a business record has reached the record retention threshold to separate a business record into a plurality of data elements, wherein the data elements have at least one defined retention policy associated therewith, determine a selected storage location for each of the plurality of data elements based on the at least one defined retention policy and store each of the plurality of data elements in the selected storage location.