The most popular and comprehensive Open Source ECM platform
Let us know more
Records Management: Renewed Interest
Business crisis headlines like those coming from the Toyota recall, the BP oil disaster, and the turmoil in the financial markets have made many company executives much more cognizant of risks in business. As many as 83 percent of companies report having renewed their interest in Records Management over the last two to three years. And 43 percent of companies are increasing their budgets for improving information management to better get their data under control. Budgets are expected to continue to increase in the next two years. Those are just a few of the findings from a new report written by Doug Miles and published by AIIM Market Intelligence.
Some other interesting facts from the report include:
- In as many as 26 percent of organization surveyed, there have been court cases where records have been uncovered and submitted as evidence which should have been deleted if retention policies had been appropriately applied. Twice as often as not, these records adversely affected the cases being considered.
- 37 percent of respondents can not confidently say that their records have not been modified, deleted or inappropriately accessed.
- 24 percent of companies have had their record keeping policies questioned in court and 25 percent have had a senior IT staff member testify in court as to the robustness of the record keeping methodology that is in place.
- 31 percent of companies have found deficiencies in their electronic information management to cause them problems with regulation authorities and 34 percent have run into issues because of court cases
- Companies plan to increase spending in the next 12 months for Records Management, particularly Enterprise Search and physical Records Management
