Welcome!

CMS Authors: Mehdi Daoudi, Rishi Bhargava, Harry Trott, Xenia von Wedel, Carmen Gonzalez

News Feed Item

Electronic Records Management: One Step Forward and Two Steps Back

Information Deluge and Poor Practices Are Overloading Servers, Hampering eDiscovery and Putting Organizations at Greater Risk of Litigation and Fines, According to AIIM Survey

SILVER SPRING, MD -- (Marketwire) -- 03/20/13 -- Although electronic recordkeeping has become a must, many organizations are still taking a haphazard approach, according to the latest AIIM survey on information governance. Senior management seems to be ignoring the risks; in fact, 31 percent of responding organizations report that poor electronic recordkeeping is causing problems with regulators, auditors and courts.

AIIM is particularly concerned that despite good intentions, the delete button is not being pressed for electronic records once they reach their allocated retention dates. This not only increases discovery risks but also does nothing to reduce storage volumes into the future. Results of the survey suggest that for a third of organizations, 90 percent of their IT spend adds no new value to the business. For more than a quarter of respondents, the response to their information deluge is to "buy more disks."

Despite many high profile court cases, the filing systems for email are still chaotic in many organizations. In the News International phone-hacking case in London last year, multiple criminal prosecutions resulted from email evidence that was ordered to be deleted many times, with policy being made up on the fly. Nearly a third of respondents in the AIIM survey admit the probability of multiple copies of emails on desktops, laptops and mobile devices, and 12 percent still do not have an email archiving policy. Even where companies do have email records policies, they generally rely on manual methods for selection and tagging. However, the use of auto-classification techniques is growing and this is likely to improve search and discovery. It will also help set appropriate retention schedules, which in turn will reduce content storage volumes in the future.

Introducing the report at the AIIM Conference in New Orleans, John Mancini, president of AIIM, said, "Many organizations lack enterprise-wide information governance policies and even those that have them often don't train their staff and don't enforce the policy. This is causing a double whammy. Their only hope of keeping a lid on storage volumes is to set and implement rigid retention periods for their content. Not doing so also exposes them to increased risk in the courts. The longer they put off getting started on this, the longer it's going to be before six- and eight-year retention periods begin to kick in. Executives need to wake up to this ticking time bomb."

Other key findings in the AIIM report include:

  • Progress toward the "paperless office" is slow. For 42 percent of organizations, the volume of paper records is still increasing.

  • The content may be electronic but the eDiscovery mechanisms are still manual. More than half of companies still rely on manual searches for eDiscovery across file shares, email and physical records.

  • Cloud service providers for records management still have a big hurdle to overcome on security and reliability for most respondents, but 23 percent might be more inclined to trust their existing paper records outsourcer or box store.

  • Less than 15 percent of organizations are including social postings in their records management regime, even though a third of those who do keep records have used them to resolve staff issues or customer disputes.

  • Forty-five percent of organizations plan to increase their records management spend over the next two years. Automated classification in particular is set for strong growth.

The full report, "Information Governance -- records, risks and retention in the litigation age," can be downloaded from the AIIM website at www.aiim.org/research. The research was underwritten by ASG, Axceler, HP Autonomy, Iron Mountain, Nuix, Recall, RSD, SAP and StoredIQ.

About AIIM
AIIM has been an advocate and supporter of information professionals for 70 years. The association's mission is to ensure that information professionals understand the current and future challenges of managing information assets in an era of social, mobile, cloud and big data. Founded in 1943, AIIM builds on a strong heritage of research and member service. Today, AIIM is a global, non-profit organization that provides independent research, education and certification programs to information professionals. AIIM represents the entire information management community, with programs and content for practitioners, technology suppliers, integrators and consultants.

About ASG
A recognized innovator in enterprise IT and business software solutions, ASG Software Solutions has been optimizing 85 percent of the world's most complex IT organizations for over 25 years. We create and deploy unique software solutions that reduce cost, mitigate risk and improve service delivery throughout the IT lifecycle. ASG's comprehensive solutions help you solve today's challenges while driving your business forward. http://www.asg.com

About Axceler
Axceler liberates collaboration to spark innovation. We help companies soar to new heights in innovation by providing the safety net that makes collaboration powerful, safe, and productive. Through visibility and control, we mitigate the organizational risks that come with collaborative platforms and free employees from constraints on creativity, speed, and cooperation. www.axceler.com

About HP Autonomy
HP Autonomy is a global leader in software that processes human information, or unstructured data, including social media, email, video, audio, text, and web pages. Autonomy's ability to extract meaning in real time from all forms of information, regardless of format, is a powerful tool for companies seeking to get the most out of their data. Autonomy eDiscovery, content management, data protection and information governance solutions enable customers to mitigate risk and gain business insight.
www.autonomy.com.

About Iron Mountain
Iron Mountain Incorporated provides information management services that help organizations lower the costs, risks and inefficiencies of managing their physical and digital data. Founded in 1951, Iron Mountain manages billions of information assets, including backup and archival data, electronic records, document imaging, business records, secure shredding, and more, worldwide. www.ironmountain.com.

About Nuix
Nuix is a worldwide provider of information management technologies, including eDiscovery, electronic investigation and information governance software. Nuix customers include the world's leading advisory firms, litigation support providers, enterprises, government departments, law enforcement agencies, and all of the world's major corporate regulatory bodies. www.nuix.com.

About Recall
As a global leader in Information Management, Recall provides the services you need throughout the life cycle of your sensitive information. From physical to electronic records and information, Recall provides businesses with more than secure information management -- we provide peace of mind. www.recall.com.

About RSD
RSD is the leading provider of information governance solutions for the enterprise. RSD helps companies reduce operating costs and risk exposure through robust information governance programs, spanning multiple jurisdictions and decades-long lifecycles. Founded in 1973 in Geneva, RSD has offices in New York, Boston, Geneva, Paris, London, Madrid, Singapore and Sydney. www.rsd.com.

About SAP
As a market leader in enterprise application software, SAP helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device -- SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 232,000 customers to operate profitably, adapt continuously, and grow sustainably. www.sap.com.

About StoredIQ
StoredIQ, an IBM Company, enables organizations to gain visibility and control over Big Data and rapidly connect people to business-critical information. With StoredIQ, companies can identify, analyze, and act on unstructured data -- where it lives -- to meet their data intelligence, eDiscovery, and information governance requirements. www.storediq.com.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

IoT & Smart Cities Stories
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
Digital Transformation is much more than a buzzword. The radical shift to digital mechanisms for almost every process is evident across all industries and verticals. This is often especially true in financial services, where the legacy environment is many times unable to keep up with the rapidly shifting demands of the consumer. The constant pressure to provide complete, omnichannel delivery of customer-facing solutions to meet both regulatory and customer demands is putting enormous pressure on...
IoT is rapidly becoming mainstream as more and more investments are made into the platforms and technology. As this movement continues to expand and gain momentum it creates a massive wall of noise that can be difficult to sift through. Unfortunately, this inevitably makes IoT less approachable for people to get started with and can hamper efforts to integrate this key technology into your own portfolio. There are so many connected products already in place today with many hundreds more on the h...
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Charles Araujo is an industry analyst, internationally recognized authority on the Digital Enterprise and author of The Quantum Age of IT: Why Everything You Know About IT is About to Change. As Principal Analyst with Intellyx, he writes, speaks and advises organizations on how to navigate through this time of disruption. He is also the founder of The Institute for Digital Transformation and a sought after keynote speaker. He has been a regular contributor to both InformationWeek and CIO Insight...
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
To Really Work for Enterprises, MultiCloud Adoption Requires Far Better and Inclusive Cloud Monitoring and Cost Management … But How? Overwhelmingly, even as enterprises have adopted cloud computing and are expanding to multi-cloud computing, IT leaders remain concerned about how to monitor, manage and control costs across hybrid and multi-cloud deployments. It’s clear that traditional IT monitoring and management approaches, designed after all for on-premises data centers, are falling short in ...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence. Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more busine...