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May 2007
 DID YOU KNOW?Microsoft spends an average of US$ 20 million for e-discovery per litigation, according to one company exec. (Source: Microsoft) |
In this issue:
Dear Records Manager:There's no question that using electronic documents can help you get the information you need quickly, and that can be a huge asset to your organization. Sometimes, though, the process of getting there can be filled with unforeseen issues and obstacles. For Continental Paper Grading, the move to an electronic data system was complicated by the fact that they now had to work with both paper and electronic documents. Then, as their business continued to grow, their existing scanning strategy came under pressure. With a potentially harmful information backlog looming, they called TAB to help them turn it around, and this month we've got another great case study with all the details. We've also got an article for you this month, Better Records Management Through Technology, which strips the question of why you should consider introducing technology into your RM program down to its essential elements. We are always interested in what our readers think, so if you have any feedback, please let us know! Regards, TAB Imaging Case Study: TAB Helps Continental Paper Grading with Back-file Conversion
However, they were left with a mix of paper and electronic records, and as their business grew, the existing electronic data system couldn't cope, leading to a backlog of unscanned files which threatened to slow down their information retrieval time and negatively affect the level of service their clients and vendors expected. They called TAB, and TAB responded with a double-barreled solution designed to turn their process around ASAP, including:
For the details on how TAB got the results that Continental Paper Grading needed, download a free copy of the case study here. Better Records Management through Technology
What You Need, InstantlyOne of the more profound effects of technology has been to dramatically speed access and retrieval of information. The broad adoption of original electronic documents and data, especially, has made access almost instantaneous. It has also opened new possibilities for different file indexing and search methods. The user can now quickly view similarities between various documents and data sets. And once the information is found, today's technology allows for the rapid telecommunication of vital data in various forms. Where hardcopy records are concerned, the ability to apply a simple barcode to track and manage physical records and their location at any time provides an organization increased productivity and cost savings. It also provides measure of compliance as audit trails log activity movement of the record and retention can be applied to ensure records are managed through their lifecycle as regulations and internal policies and procedures allow. StorageWe are producing and storing more information than ever before, at a time when the cost of physical space is soaring. When you consider the footprint of a small column of servers vs. a large central file room, the benefits of using technology for information storage becomes very clear. Automation & ControlThe ability to automate the information management processes can gives organizations a tremendous advantage where RM is concerned. Today's technologies can give records managers unprecedented control over:
DecentralizationIn today's business climate, many organizations are seeking to decentralize staff. This allows their people to be closer to customers and to engage in projects that require work in field locations, as well as providing the flexibility that today's lifestyles require. RM technology has been instrumental in facilitating this process, by allowing remote access to central information resources. With secure, fast access, and 24/7 availability, it's possible to provide the same level of service regardless of location. Technology and the 4 C's of RMThe impact of technology is best understood when you look at it in terms of cost containment, collaboration, continuity and compliance, the critical "4 C's" of records management. Cost ContainmentRM technology reduces the expenses of generating, storing, and distributing documents. It also enables people and processes to work more efficiently and effectively. CollaborationAs organizational models shift from geographic to business unit structures, and as workforces become increasingly dispersed, RM technology allows workers to remain connected and productive. ContinuityRM technology ensures that your business can recover effectively and quickly from a natural or man made disaster. ComplianceThe right application of technology enables compliance with regulatory requirements and with internal records retention policies. It will also guarantee the presence and security of documents and provide a complete audit trail of RM transactions. The Right FitOnce you understand the various ways that RM technology can have a positive impact, then it becomes much easier to incorporate it into your existing program. For many organizations, the logical place to start is with file tracking software, like TAB's FILETRACKER. For other organizations, making the move to electronic documents and Electronic RM System software makes sense. The bottom line is that there is a wide range of RM technology that can be applied successfully to today's RM challenges, from limited scanning of select collections to large-scale software program implementations, regardless of the size of your organization. Whichever you choose, partnering with the right RM experts is the best way to ensure a smooth transition to new technologies. At TAB we've been helping our clients take advantage of technology since the first document "check in check out" systems emerged in 1978, so if you have questions about RM technology, contact us.
Your Retention Schedule: Keep Current with FILELAW
For most in-house counsel and records managers, maintaining a comprehensive and current retention schedule is difficult. They simply don't have the time or resources to stay on top of the huge volume of relevant laws and regulations. If you are responsible for compliance in your organization, then TAB's FILELAW software is a "must have" tool. Published by TAB in partnership with Carswell Publishing, FILELAW is a data base which is updated quarterly of Canadian federal and provincial laws that have records retention requirements. If you want the confidence you need in order to confidently defend your program and their practices, then access to the current version of FILELAW is critical. An excerpt from the upcoming updates illustrates just how beneficial this information can be in keeping you current. These points are taken from the section relevant to Ontario in the FILELAW Quarterly Report Edition. 1- Summer 2007:
For a more detailed look at FILELAW's capabilities, features and specifications, click here. Or, if you are seeking assistance to develop or audit your records retention schedule, call or email Bob Duncan, Vice President Consulting & Outsourcing Solutions and he can help you with your compliance program at bduncan@tab.com or (403) 219-0711, Ext. 5230. Microsoft Calls E-Discovery, Records Management Inseparable HalvesAt the CA World 2007 panel discussion in Las Vegas, Microsoft's records management analysis manager Rachael Heade described e-discovery and records management as two sides of the same coin. "When someone says they can't find the return on investment (on a records management process), I so disagree," she said. Why? According to Heade, the success of a company's e-discovery strategy relies on the strength of its records management function. Read the full article on Microsoft's strategy for e-discovery. Shady Executives Burned When E-discovery Reveals Secret PlanWhen three executives left after a stormy boardroom confrontation at Motion Picture Distribution LP, the company retained forensic specialists from Deloitte and Touche to retrace their final electronic movements. What they found was a secret plan named "Project Godfather" which entailed the trio negotiating with potential buyers without board approval. Lawyers were dispatched to the Superior Court of Ontario and an injunction against the three was granted the next day. That justice moved so swiftly is a testimony to the power of e-discovery. Read more on how electronic communications are strengthening the odds of winning cases. How to Jump Start your Records Management ProgramRecords management continues to generate a lot of media attention, and many organizations are realizing that recent legislation and litigation have made effective RM critical. But many are finding that their existing programs are not up to the task and instead are saving everything. As readers of On Record know, this approach can be disastrous and greatly increases risk. Computerworld recently ran an excellent article outlining a number of steps you can take to increase the efficiency of your existing RM program.
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When the AP department of Continental Paper Grading, a major player in the recycling industry, switched to an electronic data system that enabled scanning of accounts payable checks and back-up documents for digital storage, they believed they had taken the appropriate steps to take their information retrieval as efficient as possible.
With all of the different technology solutions available to records managers, it can be difficult to know what is right for your organization. Do you need EDMS software? A document imaging program? File tracking software? The best way to answer these questions is to take a step back and ask why you should use technology for RM in the first place. To do this, we'll take a look at how today's technologies are impacting records management. Understanding this impact is a critical first step in selecting a technological solution to strengthen your existing program.