Tuesday, 18 December 2012

Ensuring Successful Electronic Records Implementation

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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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[1] AIIM: Records Management Strategies, 2011
[2] IDC: "The digital universe decade—Are you ready?," May 2010

3 comments to “Ensuring Successful Electronic Records Implementation”

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