Our present world, lives and thrives off information. The creation of records and information represents an integral part of organizational activities, processes and systems. Today, the ongoing phenomenal growth of information in a variety of formats and media results in an ongoing challenge for information creators and users. Deciding what records to create, maintain and retain can seem overwhelming. Effective records and information management programs must meet the challenge of:
- Ensuring records and information created is managed, retained, and disposed of in an effective and efficient manner in accordance with policy and relevant regulations
- Facilitate the efficient management of the records
- Ensure preservation of those that have permanent value
- Support protection, privacy and freedom of information services
Records Management initiatives requires fostering strong ties with other information management stakeholders such as Information Governance, Information Technology, Legal, Business Continuity, Information Security, Audit, and Archives teams in order to successfully utilize and protect records and information. Key stakeholders (clients, senior management, staff and vendors) require accurate and reliable records and information for the achievement of their respective mandates. Stakeholder partnerships and collaboration ensures that records and information management initiatives are successful and capable of providing the following benefits:
- Regulatory compliance –adherence to immediate and future, legal, regulatory and industry compliance policies.
- Reduction of legal risk – minimize legal risk, as well as risk of fines and penalties, due redundant, obsolete or trivial (ROT) information that has not been destroyed.
- Managing variety, volume and location of content – corporate information is complex and diverse; variety of information in high volume i.e. (emails), intranet, web pages, social networks etc.
- Enforcement of Legal Holds for eDiscovery – easily set aside information that may be required during litigation.
- Reduction of eDiscovery costs –quickly and accurately locating and presenting requested content.
- User-friendliness – simplified methods for creating and maintaining records and information throughout the organization.
- Reducing the volumes of unneeded or obsolete data (ROT) – minimize storage costs and risk by disposing of redundant, obsolete or trivial information and minimizing the risk of outdated information being used or distributed.
- Making policies easy to understand and follow - access to procedures and training in the use of record and information management resources such as file plan, retention and disposition schedule, legal holds etc.
Today, more than ever before, Records and Information Management strategies and initiatives require collaborative efforts in order to realize primary benefits such as increased efficiency, productivity, costs savings, avoidance of unnecessary risks and reputational damage. Partnership with key corporate stakeholders greatly assists with the success of managing records and information throughout their entire life cycle. The results of collaboration in these key areas can be seen as follows:
- Information Governance
Records management tools generate the records required for the formulation of effective policies procedures and process required for the implementation of strong Information Governance systems.
- Information Technology
Records Management insight ensures the development of information systems or acquisition of new technology that has in place the necessary structures and components to create or capture records that meet national and international legal and regulatory compliance standards.
- Legal
Records Management support is required to ensure legal and regulatory compliance is observed for the creation, use, distribution and disposition of company records.
- Business Continuity
Records management expertise ensures vital company records and information is identified, protected and available in the event of an emergency or disaster.
- Information Security
Records Management and Information Security teams need to ensure creators and users understand the protocols of creating and using company information.
- Audit
Records Management and Audit interactions are critical to ensuring organizational accountability via monitoring of system events and user actions as proof records are created used and retained in compliance with corporate policy.
- Archives
During the disposition phase Records Management assists with the identification of records that possess archival value.
Records and information are key organizational assets required to ensure the achievement of organizational goals and objectives. Similar to other critical organizational assets, they must be effectively managed to successfully provide the right information, at the right time, to the right individuals, wherever it is needed. Prompt and effective collaboration helps bring it all together for the good of all parties involved.