Issues

The recordkeeping environment

Records are vital in any organisation, providing access to corporate knowledge and evidence of past activities. They are essential in litigation when there is a need to protect company assets and defend claims. Yet modern organisations often neglect their records, leaving staff to develop their own systems, surviving on ad hoc and inefficient arrangements.

The potential value of records to be re-used and to inform is unrecognised.

Records are a resource. Like all other corporate resources, they require a planned, systematic approach.

Information in documents

More than 50 % of an organisation's information is contained in documents, reports, publications, specifications, technical drawings, visual images and maps - documents not suited to the formal structure of database design. This information is complex to control and difficult to retrieve, unless it has been systematically and consistently classified. Where this information is unmanaged, staff waste valuable time searching for information. It has been estimated that the average office worker spends 40% of their time searching for information. Imagine the productivity gains to be made of using that 40 % of effort more productively.

Accurate classification means staff can retrieve information quickly.

Information is fragmented

There are many systems and software applications, and different rules operate in each system. Publications are stored in libraries, policies on the intranet, client information on the extranet, business transactions and financial data in multiple databases, maps and plans in the CAD system. Its hard to co-ordinate all the different formats, even when they relate to the same building or project. Information silos appear within organisations precluding efforts to share information.

A systematic approach to records management overcomes the fragmentation by format and ensures access and retrieval whatever system or the location of the records.

There is too much information

A search on the intranet or web returns thousands of 'hits'. Using accurate resource discovery metadata enables weeding out of irrelevant items, weighting information by its relevance, source and authenticity. If you are buying stocks, information from the stock exchange is more relevant than information from yesterday's newspapers.

Accurate metadata can improve both retrieval (retrieval of all the relevant information) and specificity (only recall the information that's most relevant).

Important information is retained appropriately

Many organisations destroy records after 7 years, the minimum retention period under the statute of limitations, without considering all the potential legal and financial implications. Records are often destroyed before all uses of records are completed.

Recent high profile legal rulings on unauthorised destruction or destruction intended to mislead highlight the risks to organisations if this area of recordkeeping is left unmanaged.

Solutions

Reduced Costs

Recordkeeing Innovation assists organisations to develop a framework and series of practices that will allow more efficient information management, thereby reducing the overall costs in controlling and managing the information management of a company. For example collecting and controlling thousands of service contracts for an energy company allowed the company to consolidate its suppliers and achieve cost savings through bulk purchasing.

Reduced Uncertainty

By managing the flow of information intensive activities agencies are able to efficiently and effectively control the level and distribution of confidential information. The ability to access evidence of injury claims allowed our client to determine whether to pursue litigation or to seek out of court settlement because they could realistically assess whether they had enough information to defend a claim.

Added Value to Existing Products and Client Relationships

As businesses move more towards e-commerce for business to business, business to consumer, and internal operations, they can leverage the information gathered to create value added services for its primary stakeholders.

New Value Added Through Improved Information Based Products and Services

As agencies gather information on the primary stakeholders, customers and clients, they are able to develop new information products and services that will assist in creating a better information transfer between agencies. Service delivery can be improved through delivering information in a timely and accurate manner, while restricting access to protect privacy.

Our clients are developing security classifications and protocols for sharing information between health service providers, welfare and custodial services, improving accuracy, saving time and ensuring better authenticity.

Benefits

The benefits of professional records management

A professional approach means:

• that a one time investment can provide benefits lasting many years
• improved productivity from timely, accurate retrieval
• reduced costs when work is reused, not recreated
• corporate learning from others experience, best practices and good ideas
• corporate knowledge is protected and preserved
• protection of corporate interests in legal proceedings
• preservation of business continuity.