I promised to provide feedback to the group re cost-justification for RIM
programs (in addition to the obvious).
I received one reply from the Listserve (the Andolson material received from
Tony Laino of TAB - attached).
I also received info (not from the ListServ) from Greg Bartels and Eric
Labiak of Imaging Processing Systems, Inc. (IPS) - including the Price Waterhouse
Coopers, AIIM and the client cited imaging specific benefits portions below.
Following is information that I prepared for a client. It doesn't include
Andolson material, which I received after preparing it. I gave attribution to
IPS for their portions of the material.
I hope this is useful. I also hope that the bullets and text format properly
in this transmission.
All the best,
Susan
Susan K. Goodman, MLS, CRM
Senior Consultant and Project Manager
Records Improvement Institute, LLC (RII)
23 Oakland Avenue
Mount Vernon, NY 10552
[log in to unmask]
914-664-4021
Cost Justification for Developing the X's Records Management Program
. Price Waterhouse Coopers performed a study that found professionals
spend 5-15% of their time reading information, but up to 50% of their time
looking for information. In addition the average organization:
- makes 19 copies of each document
- spends $20 in labor to file each document
- spends $120 in labor searching for misfiled documents
- loses 1 out of every 20 documents
- spends 25 hours recreating each lost document
- spends 400 hours per year searching for lost files
· A well established records management program would enable X to
make the most efficient and cost-effective use of financial resources related
to its information resources, satisfying Board of Governors and stewardship
accountability requirements.
· Managing records responsibly is good business practice that
enables compliance with all business and regulatory requirements. Good business
practice enhances credibility and accountability related to donated funds.
· X wants to move to an electronic records environment to promote
efficiencies and cost-effectiveness. In order to maintain records
electronically, the organization must be able to prove that the records are authentic,
reliable, complete, final and unchangeable (among other attributes). Work needs
to be done to ensure that electronic records in native formats, and
electronic documents created by digitizing paper records, meet necessary criteria for
records and record-keeping.
· Part of the mission of X is disaster response. X itself needs to
have a strategy for maintaining operations in the event of a disaster. Part
of this strategy should be a vital records protection plan that will enable it
to fulfill its mission during recovery response.
· When records are maintained and disposed of per retention
schedule, it is easier to find records for audit, ongoing operational and community
response and historic purposes.
· Appropriate disposition (per retention schedule) of obsolete
records ensures that equipment, supplies and human resources are only used to
manage needed records. It also means that records that remain can be more easily
found.
· Records management often uses the 30/30/30 rule: When new
schedules are applied to records, approximately 30% of the records will remain
onsite as active records, 30% will be sent offsite and 30% will be destroyed.
Often, a large percentage of records stored offsite can be destroyed. Depending
upon the volumes of records, the cost-avoidance and savings can be
significant.
· With a pending move to a new location, it makes sense to “get the
house in order” from a records point of view – sending all inactive records
offsite and destroying records that can be destroyed before the move. This
eliminates the costs of moving records to the new location, provides for the
efficient use of space in the new facility (i.e., freeing up space that could
be used for other purposes), and then moving inactive records from the new
location, offsite.
· In electronic systems, records are frequently broadly
distributed. This often results in multiple copies of documents with no formal
accountability for the official version. A retention schedule that denotes the Office
of Record and retention periods enables duplicate records to be appropriately
destroyed and official records to be protected.
· The use of records classification systems that correspond to
retention schedules ensures that records will be described and filed (in
paper-based and electronic systems) in a way that enables retrieval of needed
information, disposition of obsolete records and protection of historic records.
. Document Imaging specifically provides multiple opportunities for
return on investment. AIIM, our imaging industry association, summarizes
these opportunities broadly in their “Four Cs”: Collaboration among employees,
Continuity of business, Cost Reduction, and Compliance. Clients often cite
the following specific imaging benefits:
- Reduced labor for data entry
- Fast information and work processing
- Higher accuracy of data entry
- Faster access to document backup
- Reduced copying, faxing, overnight mail, etc.
- Reduced Audit labor
- Facilitation of regulatory compliance
- Better client service
- Reduced floor space required for filing cabinets
- Instant retrieval of documents
- Simultaneous access to documents
- File integrity
- Multiple search criteria
- Occasional physical rearrangement of files avoided
- Elimination of other off-site storage costs
List archives at http://lists.ufl.edu/archives/recmgmt-l.html
Contact [log in to unmask] for assistance
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