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Talking Points and Resources
These RIM talking points are designed to help explain the importance of records and information within any organization.
Training:
45% of respondents made up of RIM professionals and human resource professionals said that their company does not provide formal training on managing records and information, source: The ARMA International Information Management Training Survey, April 2007
Many organizations do not formally train all of their employees on managing records and information – including the handling of sensitive data, which indicates that too many top executives don’t fully comprehend the risk and that information is a critical corporate asset. Each employee needs to understand why information management is important to the organization’s continued operation, what their role is, and the risks if it’s not done well.
Competitive Advantage:
"Records management is important at P&G. First and foremost, it’s part of P&G’s commitment to good governance. Second, it helps ensure we have the right information available at the right time in the right place to make smart business decisions. Third, it makes us more efficient and helps keep costs low – and lower costs ensure P&G brands provide superior consumer value.” --A.G. Lafley, CEO Procter & Gamble
With records management processes in place organizations can perform better in all aspects of business. Less time is spent on searching for research or customer information, files do not take up expensive square footage, e-mail inboxes are organized, and operations run more smoothly. This equals time, money, and frustration saved within the organization and makes more available the resources needed for expansion and growth.
Risk Management:
In recent years, large companies such as Phillip Morris, Morgan Stanley, and UBS Warburg have lost millions of dollars in fines and sanctions due to poor management of their information.
The collapse of organizations such as Enron, caused largely by the mismanagement of information, led to the creation of The Sarbanes-Oxley Act (SOX) in 2002, which is now a mandatory practice for all organizations big or small. Soon after SOX came the December 2006 amendments to The Federal Rules of Civil Procedure. These rules focused mainly on the management of e-mail and e-discovery, proving once again just how costly improper management can be for any organization.
Understanding the importance of protecting your information and spotting your risk areas before they become a risk to the entire organization is a crucial business practice in today’s world.
Disaster Prevention:
Disaster can strike at any time and in many different forms, taking with it the ability to do business as usual. Computerweekly.com reported that a University of Texas study found that 94 percent of companies who experience a catastrophic data loss will not survive, as 42 percent do not reopen and 51 percent close within two years of the disaster.
Using records and information to build a Business Continuity Plan (BCP) is one way to prepare your organization for a major disaster. BCPs are designed to protect companies from unplanned interruptions that prevent access to critical business information. Having a plan can mean the difference between losing everything and being able to remain stable in business before, during, and after a crisis.
Resources:
Training:
- Keeping Good Company – This training program offers real world business examples and provides a consistent enterprise-wide approach to managing records and information.
- Lack of Information Management Training Puts Organizations-and Their Customers- at Risk – ARMA International press release detailing the training survey done in April 2007.
Competitive Advantage:
- Cobalt Award – The ARMA International Cobalt Award recognizes organizations that fully embrace and execute solid records and information management practices enterprise-wide. Requirements for the Cobalt Award are of those that will make any organization stand out with a great advantage over their competition.
Risk Management:
- The Risk Profiler – This tool helps you to identify your risk potential and gain access to best practices that will help your organization remain compliant and competitive. It is available for records and information management, e-discovery, and cyber-security.
- Reboot Your Records Retention Strategy – Article from the IT Compliance Institute discussing the cost of poor records management and uses ARMA International as a professional resource.
Disaster Prevention:
- Hope for the Best, Plan for the Worst –- This John Liner Review article by Kevin S. Joerling discusses the need for a business continuity plan when disaster strikes. He defines the business continuity plan and its importance to the survival of all organizations.
- Record Protection –- This BizVoice web exclusive discusses the need to plan ahead and be prepared for disaster.
Other Resources:
- ARMA in the News – ARMA International is featured in many industry publications as a professional resource. Use the recent articles as a resource for your case for RIM in your organization.
- ARMA Bookstore – The ARMA International Bookstore if FULL of great articles, books, videos, standards and more covering virtually any records and information management issue. Visit www.arma.org/bookstore to locate the right book for you.
