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Information Governance: Many Records Management Programs Suffer from Large Gaps
A majority of Records Management (RM) and Information Governance (IG) programs now in place lack the key elements that are needed in order to be effective. That’s a conclusion of a report sponsored by AIIM, ARMA, Iron Mountain and Cohasset Associates.
Barry Murphy, Analyst at The eDJ Group, wrote in an article for Forbes that “for companies that ignore IG, managing the risk that information poses is harder and harder because the volume of information stored keeps going up.” But there is a problem because many RM/IG programs are struggling.
The Cohasset report found that many RM/IG programs lacked effectivity:
- Only 17 percent do internal audits of their programs to assess how well they are meeting the demands of regulatory compliance
- Only 8 percent have developed metrics that enable them to measure changes in the effectiveness of their program
Many RM/IG programs suffer from lack of automation:
- Only 8 percent have an automated process to identify records that are eligible for destruction
- 75 percent of organization say that lack of automation is making it difficult to enforce their retention/destruction policies
Sue Trombley, managing director at Iron Mountain, said that “Information management, when done right, can push your business ahead and be a strategic lever for success. But until you achieve buy-in at all levels of the organization, master fundamentals like timely destruction, and implement a system to monitor program effectiveness, the sought-after benefits will remain elusive. You will also have to transition away from paper-based processes to manage the complexities of electronic records. Mature, well-run RIM programs have all of these things, plus the ability to adapt as information grows and changes. ”
