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Consider the following facts.
According to an AIIM survey[1] only
16% of organizations surveyed have implemented an enterprise-wide electronic
records management strategy. 9% of
respondents indicated that they have implemented electronic records management
system across the whole organization.
At the same time the volume, velocity and variety of information continue
to accelerate exponentially. A recent
report by IDC[2] found that in 2009 the total volume of
digital information was 800 exabytes and is projected to grow at an annual rate
of 40%. More than 80% of incremental
investment in storage capacity is required to store duplicate data due to
ineffective record retention and disposition practices.
Knowledge workers are expected to spend 30 to 40 percent of their time
managing documents up from 20% in 1997.
Audit and legal costs continue to increase. It is estimated that on average the cost of
culling, de duping and processing responsive documents to e-discovery requests
is $18,000 per gigabyte of information reviewed. It is further estimated that labour costs for
finding a misfiled document is $120.
Today’s digital economy is estimated to be $24 trillion, representing
approximately 14% of all goods and services flowing through the global economy.
Information has become the currency of exchange. In order to harness its strategic value it
must be effectively managed. Yet
investment in records management remains low on corporate priorities. 40% of respondents to the AIIM survey
indicated that the main reason for ineffective record keeping best practices is
due to lack of top level executive commitment.
Implementation of effective recordkeeping best practices must be an
imperative given the opportunity costs and compliance risks. What ought to be
the common characteristics of an effective records management implementation
strategy? What are the factors to
defensible disposition? What should be the measurable performance indicators
for a successful records management implementation? These are questions often asked, yet the
answers remain elusive. Surprisingly,
there are some rather critical considerations that apply to all EDRMS projects,
regardless of the nature of the organization – private or public institutions,
or the size of the project. Recently Bruce Miller, Founder and President of www.rimtech.ca summarized six key strategies that should be
considered for a successful records management implementation. His article was published in Canadian
Government Executive. The link to the
article can be found here.
CORADIX will continue with its educational and thought leadership program
in the area of information management best practices. Over the course of the
past year we have delivered a number of complimentary seminars and workshops on
subjects relating to information governance, data management, electronic
records management, and in partnership with www.aiim.org ECM certification programs. These courses included ECM Practitioner
Certification for Microsoft SharePoint and ECM Practitioner and Master
Certification programs. These workshops
are delivered by AIIM certified trainers with in-depth expertise in ECM technologies
and best practices with specific experience in Government of Canada ECM and
records management projects. The
Microsoft SharePoint Practitioner training is delivered by David Wu with
in-depth Microsoft SharePoint implementation experience within the Canadian
Federal Government. The ECM Practitioner and Master training courses were
delivered by Cheryl McKinnon the principal of www.candystrategies.com with particular focus on the ECM field and
is a recognized subject matter expert in the areas of digital content creation,
governance and content life cycle management best practices.
We will continue to build on these programs in the new year. Our calendar of activities will include an
innovative complimentary seminar –Information
Management @ Work ™ that will focus on information governance,
classification strategies, records management implementation best practices for
Open Text Content Server, Microsoft SharePoint and hybrid implementations. We are also planning to bring to our clients
and consultant network the AIIM Certified Information Professional Certification program (http://www.aiim.org/Training/Certification). We
are planning to hold a one day workshop in Ottawa that will empower you to
write and successfully earn the designation of Certified Information
Professional (CIP). We will continue to deliver in partnership with www.rimtech.ca workshops on electronic record keeping best
practices.
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