Over the past few decades, businesses have seen a tremendous increase in the importance of effectively managing the documents that are critical to their daily operations. In many cases, effectively managing these documents not only means being able to store them and manage their usage, but also ensure that they are managed according to strict compliance requirements imposed by government regulation, legal mandates, information disclosure legislation and other internal or external requirements for which failing to do so is met with harsh legal penalties or other negative repercussions.
Companies are reacting to these requirements by implementing various governance, retention and compliance policies and procedures within their businesses/organizations. While a document management system can help an organization store and manage the usage of electronic documents, these systems lack many capabilities necessary to mitigate the business risk associated with failure to meet mandated compliance scenarios. In order to achieve required compliance, many businesses/organizations are relying on records management systems to enforce and support the policies and procedures that are in place.
The importance of records management to an organization has been demonstrated by numerous, highly publicized corporate scandals centering on the mismanagement of corporate records. Some of these examples include the shredding of key documents to hide wrongdoing by the Enron Corporation, the falsification of financial statements by WorldCom, the destruction of audit records by Arthur Anderson, and even the destruction of royalty records by Walt Disney. The result of mismanaging records can be extremely costly to a business in terms of large fines and steep penalties.
Records management systems are used to mitigate the risk associated with doing business. By providing an organization with the means to proactively manage its records, they enable a company to protect itself from the potential loss or destruction of records, eliminating the need for time-consuming, ad-hoc record gathering to support audits or litigation; and they ensure compliance with various legislative or regulatory requirements, which continue to grow. When you consider various compliance scenarios such as Sarbanes-Oxley, Turnbull, Basel II, CFR 21 Part 11, SEC, the Patriot Act, Health Insurance Portability and Accountability Act (HIPAA) and basic operational risk management, it becomes apparent that records management is critical to any organization.
Netlocity's Records Management experts offer end-to-end solutions that enables businesses/organizations to efficiently manage the lifecycle of all records throughout the enterprise. Users can apply policies for retention and disposal with a simplified and automated process, while maximizing their investment in their Microsoft SharePoint deployment.
Considering the growing number of industry and government retention regulations for information retention policies, it is necessary for your business/organization to adopt a records management policy to minimize the risk associated with eDiscovery of large amounts of data stored across your enterprise. Netlocity's Records Management consultants offer solutions that ensures your business/organization is adhering to immediate and future legal, regulatory and industry compliance policies - that allow you to adapt quickly and easily as those policies evolve. With Netlocity's simplified and automated records management solutions, you can feel confident that your business/organization is in compliance with industry and government records retention requirements.
From document storage costs to legal costs, it can be extremely costly to store the volumes of data your business/organization generates every year. Without a proper records management plan, you can inadvertently set yourself up for unnecessary risk when you hold on to unneeded information. Obsolete information, which can be discovered during legal cases or even distributed, can create exposure to legal costs as well as fines and penalties. Netlocity's Records Management business experts will recommend a Records Management solution that will help you lower costs and reduce legal risk by destroying obsolete information at the end of its lifecycle.
You need more than just a repository to store your mission critical enterprise content. You need to be able to locate, present and analyze your enterprise-wide information. Storing massive amounts of information is worthless if you cannot access it quickly and accurately report on it. Netlocity's Records Management consultants offer Records Management solutions that help you increase efficiencies and productivity by automating retention schedules, applying legal holds and easily locating and presenting your enterprise content for discovery if and when needed.
Let our team work with you to bring together people, process, and technology to transform your organization with our Records Management Solutions.
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