MT>3
  • Home
  • About
  • People
  • Services
    • e-Discovery
    • Managed Review
    • Information Governance
    • Due Diligence
  • Blog
  • News
  • Contact

Effective Records Management – Part 3 – Developing and Implementing an Enterprise Records Management Program

14/11/2011

 
Controlling information starts by distinguishing records from non-records. In records management parlance, this is the distinction between records that companies send to the file room versus ones they throw away. Several studies estimate that most organizations can destroy as much as two of every three documents that they currently store. Studies also indicate that, apart from retaining too many records, organizations retain those records in multiple copies, further increasing the volume of stored information.

This tendency to save everything hampers an organization’s ability to properly manage those records that should be kept. Timely disposition of expired records ensures that information that should have been destroyed will not be swept up in a wide reaching legal discovery exercise during litigation or compliance exercises. Thus, de-duplication and timely disposition reduces potential liability risk while lowering operational costs, thereby benefiting the organization twofold.

Once business records are separated from disposable non-records and only one copy is maintained, they need to be classified for filing and applying retention periods. Retention schedules are determined by legal, compliance and operating requirements of the organization, must be consistent, apply the same classification system to both paper and electronic records.

Companies should implement a centralized records system to provide a single point of control and consistency for all of their records, be they on-site or off-site, paper or electronic.

With a single software solution, companies can:

  • Manage records throughout their entire lifecycle
  • Reduce their overall storage costs
  • Mitigate legal, regulatory and compliance risks and provide clear audit trails
  • Streamline record retrieval for both on-site and off-site records
  • Generate standard and ad-hoc reports
  • Extend enterprise content management or document management investments

​Ultimately, to be successful, records management must be integrated into the daily operations of the business.

Comments are closed.

    Categories

    All
    Artificial Intelligence
    Blockchain
    Cyber Security
    E Discovery
    Information Governance
    Legaltech
    Privacy
    Social Media
    Technology


    Archives

    April 2021
    March 2021
    February 2021
    November 2020
    October 2020
    July 2020
    June 2020
    April 2020
    March 2020
    February 2020
    January 2020
    November 2019
    October 2019
    September 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    May 2018
    April 2018
    March 2018
    September 2017
    August 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    June 2012
    April 2012
    March 2012
    February 2012
    January 2012
    December 2011
    November 2011
    October 2011
    September 2011
    August 2011
    June 2011
    April 2011
    March 2011
    February 2011
    January 2011
    December 2010
    November 2010
    October 2010
    September 2010
    August 2010
    July 2010
    June 2010
    May 2010
    March 2010
    February 2010
    January 2010
    October 2009
    September 2009
    August 2009
    December 2008
    March 2008
    November 2007
    October 2007

130 Adelaide Street West Suite 2020
Toronto, Ontario M5H 3P5
​ ​
t: 416-642-2220  
tf: 1-877-642-2220  
f: 416-868-0673
Contact MT>3
@MT>3 2018. All Rights Reserved
Picture

Privacy Policy and Terms of Use

  • Home
  • About
  • People
  • Services
    • e-Discovery
    • Managed Review
    • Information Governance
    • Due Diligence
  • Blog
  • News
  • Contact