Ready, Aim, Shoot - Knowing Your Organization's Goals Before Choosing A Product” Choosing an electronic records management product is an important milestone. But to choose the best product, you must establish your organization's goals. Whether your electronic records program is chartered to reduce risk, empower legal counsel, lower litigation costs, or a combination of these and other factors, your goals will affect the package you choose. Knowing whether your business requires a DOD 5015.2 certified system, whether you are subject to multiple state or international jurisdictions for your retention schedule, and other factors can also affect the package you choose. These factors can also affect your selection process (will you require a pilot program?) and your ongoing success, such as how you will ensure user adoption and continued executive support. Your organization may have specialized requirements due to your industry or other factors, but more than just a feature comparison, your selection should consider which vendor‘s product, people and approach best aligns with your goals.
Records Management Software Selection Brian Dirking October 10, 2008
“ Effective information management will be critical in the next decade, differentiating those enterprises that will implode under the infoglut from those that will use it to dominate the global economy." Gartner, June 2006 Source: Gartner; June 2006; Spotlight on Enterprise Information Management
To persuade business unit leaders of the necessity for effective document retention, a large chemical firm’s legal department conducted an internal cost assessment of a 3-year litigation project. Their findings:
They reviewed 75 million pages of text during the 3-year period.
More than 50 percent of the documents they reviewered were out-of-date and should have been deleted.
The cost of reviewing out-of-date documents amounted to $12 million.
How much money would your organization save if you could target your outdated content, and remove it?
“ Whereas in the past 5% of cases went to trial, now only 2% do.”
Patrick Oot, a lawyer for Verizon: “Almost every case involves e-discovery and spits out ’terabytes’ of information... In an ordinary case, 200 lawyers can easily review electronic documents for four months, at a cost of millions of dollars.”
Specialised e-discovery service providers which charge $125-600 an hour.
Your organization may have specialized requirements due to your industry or other factors, but more than just a feature comparison, your selection should consider which vendor‘s product, people and approach best aligns with your goals.
You need strong partners to guide you…
Evaluation, file planning, implementation, roll out