6 Actions for your Records Management Strategy (CMS WiRE)

An interesting article by CMS WiRE discusses the important of a Records Management Strategy and what to keep in mind when implementing one: 6 Actions for your Records Management Strategy

The latest report from Forrester Research would seem to suggest that companies are slowly coming around to the fact that it's bad business to put investment in records management on the back burner.

While there is a recognition that records management is a core business process in any company, only 20 per cent of companies would be “very confident” that they could meet eDiscovery or compliance requests if they were asked to do so in the morning.

However, the good news is that by the end of 2010 more than half of those surveyed in the 14-page report, entitled Records Management: User Expectations, Market Trends, And Obstacles written by Brian W.Hill of Forrester with Matthew Brown, Peter Schmidt, say they will be expanding their technology deployments in this regard. Six Necessary Actions

1. Team Development: Develop a cross-functional team across your enterprise made up of people from different departments who will ensure that a retention management strategy is initiated across the entire enterprise.

2. Expand Content Criteria: Expand the content type that falls under your content retention policy. It is critical, the report says, to incorporate electronically stored information (ESI) under a company’s records management strategy.

3. Develop Retention Procedures: Develop an integrated data ‘hold’ policy across the entire enterprise.

4. Use Technology: Companies need to use technologies to automate eDiscovery and records management. Instead of simply throwing more bodies at this challenge, the report says, companies must work smarter, leveraging technology to automate retention classification and selected eDiscovery steps.

5. Choose Your Vendor Carefully: While companies may be happy with the platform they are currently using, they need to ask themselves whether it is capable of making them compliant with federal rules on compliance.

6. Repository Development: So you’ve managed to include all your content, electronic and otherwise into your records management strategy, but where are you going to keep those records. The report points out that for many companies a single repository is not really an option and that they should be looking at developing a cross-repository strategy along with their records management strategy. Read the full article here.