Technology Solutions. Man a g e th e ch a n g i n g Rec o r d s Ma n a g e m e n t. More than 90% of records created today are electronic

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1 More than 90% of records created today are electronic Paper based records have increased 36% Man a g e th e ch a n g i n g Rec o r d s Ma n a g e m e n t l a n d s c a p e wi t h TAB. Technology Solutions

2 Making RM Software Work For You Compliance, litigation and electronic records are just some of the factors that have organizations scrambling to get their records management (RM) program in order. For many organizations, the answer is software. But choosing the right software solution can be a difficult and confusing process and our clients often want to know the best way to select a software solution. One Part of a Larger Solution The answer is to take a step back and recognize that software is simply a tool in your larger RM solution s arsenal. Simply buying and installing software won t make you compliant, but when used as part of a comprehensive RM program, it can help you get to compliance and much more. And only focusing on the electronic records can be limiting, because paper records continue to make up a large part of active file collections. So when you define how your RM software fits into the bigger records management picture, then you can make an informed decision that will be the right fit for your organization.

3 A Solid Foundation: Classification & Retention Every good RM program must start with an effective classification system. Classification of business activities acts as a powerful tool to assist the business processes involved in the management of records including: Providing linkages between individual records which accumulate to provide a continuous record of activity Determining appropriate retention periods and disposition actions for records Ensuring records are named in a consistent manner over time Assisting in the retrieval of records relating to a particular function or activity Determining security protection and access appropriate for sets of records Allocating user permissions for access to, or action on, particular groups of records Distributing responsibility for management of Classification systems are established through a series of process steps that include interviewing business areas to establish and analyze business activities and records. Following the interviews an assessment of the existing records is completed. Finally a classification reflecting the functions, activities and records that are created by those activities is completed. It is the classification system that provides the basis for compliance, risk management, retention periods, security safeguards and other related issues. Once a classification system is in place, retention schedules must be applied to each activity and record type within your environment. Records retention establishes how long an organization needs to keep its records. It is based on operational business needs, legal and regulatory requirements. Retention schedules specify how long records must be kept as they progress through their organizational life cycle, including whether records are ultimately destroyed or archived. particular sets of records Distributing records of action 29% of international organizations are now using enterprise-wide document and records management systems compared to 15% in IT Week

4 Understanding Functional Classification Primary Level TAB s methodology for organizing business records is based on functional Function Secondary Level classification. Functional classification Activity File Level focuses on the actual business function, activity or transaction which resulted in a record being created or received in the Function Example FI - Finance Taxonomy first place. LE - Legal Protection Activity Example A records classification that is built exclusively around business functions and activities makes for a simple, easy to apply structure. A functional classification lists each business activity as a single category, as opposed to repeating the category for individual departments which engage in it. Fewer categories means less time locating a FI - Finance FI12 - Project Cost Control FI13 - Procurement LE - Legal Protection LE02 - Contract Administration regulation governing a given business function or activity. Also, by categorizing records according to authorized business activities which they support, a functional Taxonomy Example FI - Finance FI12 - Project Cost Control FI13 - Procurement -01 Budgets - 02 Monthly Cost Monitoring LE - Legal Protection LE02 - Contract Administration -01 Engineering Contracts - 02 Equipment Contracts given record. Compliance The functional approach better supports compliance with legal and regulatory rules for retaining records. There is virtually no law or regulation which deals exclusively with the question of how long to keep records. Instead, retention rules appear either directly or implicitly as part of some broader-based law or classification provides the essential categories for determining privacycompliant access privileges, records retention periods and security levels. International Standards ISO 15489, the international standard for RM, includes a requirement to classify records based on an analysis of the organization s business activities. This is the essence of functional classification. Functional classification is not the only way to organize records, but it is the only RM model which fully supports corporate compliance and best manages risk. By focusing on the business context in which records are created or received, this versatile approach better reflects the role of records in general and the more detailed requirements facing today s businesses.

5 Enter RM Software With the classification and retention systems built, the real work begins. Each document must be evaluated to determine whether it is evidence of business activity and who is responsible for storing and maintaining the record. The classification system is then applied to the record, assisting in its organization and determination of its retention characteristics. How Does RM Software Help? A good RM software solution incorporates your classification structure into the software. It uses the classification structure to apply retention rules and guidelines to records identified and stored within the database. As users store new content, classifications are selected and the software automatically links the retention rules to that particular piece of content. If retention rules change to a particular classification level, the designated user simply applies the new rule(s) to the classification level. Upon completing this process, the software will automatically update all records with the new change. This is an important consideration when selecting RM software as millions of records can be associated with a single retention rule change. 47% of companies with 20,000 or more employees, and 56% of those with between 1000 and 4,999 employees, received document discovery orders in Enterprise Strategy Group

6 Software & Compliance: Managing the Lifecycle Process Ultimately, building the classification system, applying retention and incorporating those principles into your RM software helps you to manage the record lifecycle process. RM software will trigger dates for records to go from active to inactive and from inactive to destruction. RM software logs all of these activities to transaction logs so you can review activity and demonstrate, in the case of an audit, that policies and procedures were consistently applied. In the event of litigation, during discovery, you can use the software to perform a search for content identified as required by a discovery motion. You must be able to place a legal hold on all of that content applicable to the discovery motion overriding the applied retention rules until the hold is removed. This protects you from further exposure by destroying documents that should be available by order.

7 Enterprise Content Management vs. Records Management Software Many organizations have adopted enterprise content management software (ECM) to gain control over the growing volume of electronic content now being generated by organizations. It is important to understand the distinction between ECM software and records management software. ECM software was developed as electronic content began to replace physical paper in business processes. The primary focus has been to provide productivity gains and streamline workflow processes. ECM software also delivers key capabilities for versioning control and electronic signatures. However, most ECM software is still deficient in addressing the physical records aspect of business. Records management software takes over when content is used to trigger a business transaction and is determined to be a record for the organization. The primary goal of the RM software is to ensure that the necessary controls are in place to manage against the retention rules for the remainder of the record lifecycle. Most ECM software suites have adopted an RM module to the overall suite. Evaluating ECM software to address the RM component may highlight insufficient functionality. Even if key functionality does exist, what is the level of complexity? Do costs increase due to the complexity or vendor involvement to implement? Organizations have found that it has become necessary to select a separate RM solution from the existing ECM solution already in place. A co-existence is practical through integration and may deliver the best RM approach based on capabilities, simplicity, and vendor related knowledge of RM in general. What software is used during a document s lifecycle? Document Creation ECM Enterprise Content Management Productivity Manages the evolution of a document from its creation until it becomes a record, through: Workflow Collaboration Version Control Document becomes a Record (business transaction occurs) RM Records Management Compliance Ensures compliance from the conception of a record until the destruction of a record through: Legal Holds Classification Structure Retention Schedule & Rules Record Destruction

8 TAB Technology Solutions Consulting TAB s consulting group is skilled at building functional Computer users spend 7.5 percent of their time on a PC looking for misplaced files. --Information Week classification systems based upon ISO15489 standard and researching and applying retention to the classification. Once your RM software is purchased, our RM software business analysts effectively apply records management principles and processes in building file structures, naming conventions and applying retention effectively within RM Software.

9 Software: TAB FusionRMS Industry regulation, legal mandates, and increasingly stringent requirements around keeping and maintaining records have made enhanced software solutions an important part of solving today s records management challenges. This importance is underscored by the fact that ensuring the right information is in the right hands at the right time has become an executive level concern in many organizations. Introducing TAB FusionRMS from TAB - a comprehensive suite of software solutions developed by the world leader physical and electronic records with functionality to maintain and secure your most valuable records. TAB FusionRMS is in use by hundreds of businesses, government agencies and law enforcement agencies with thousands of users. All TAB FusionRMS solutions offer an upgrade path from our most basic file tracking solutions (and even competitive products) to our most advanced solutions. As your organization grows, TAB will be there to grow along with you. in records management. TAB FusionRMS is a family of solutions ranging the entry level tracking solutions to advanced records management solutions designed to track

10 Partner With Someone Who Knows RM Part of the process in choosing software should be carefully selecting a provider with a comprehensive knowledge of records management and its application to RM software tools. Because the effective long-term use of your software is tied to having the right records management structure in place, working with someone who understands both records and software is critical. A company that only sells software but lacks knowledge of records management ultimately will be challenged in assisting you in applying the software to effectively manage your organization s governance requirements. At any given time, between 3 and 5 percent of an organization s files are lost or misplaced. The average cost of recreating a document is $180. Annual losses for a Fortune 1000 company with one million files is $5 million dollars. --Information Week

11 Can Help At TAB, we take a holistic approach to the RM software question. We think that the way to provide you with the best software choice is to look at your entire records situation, paper and electronic, and then determine how the software will fit into your organization, what the business issues are, which workflow processes need to be improved, and then customize a solution to fit your organization s requirements. Our software is robust and flexible enough to deal with any records management issue, either paper or electronic, that your organization may have.

12 About TAB As the recognized leader in the records and information management industry, we develop custom solutions that enable our clients to organize, access and manage critical information. We offer top quality records management software and specialists that solve complex records and information management challenges. With more than 55 years of experience, we serve clients in a variety of industries including legal, finance, healthcare, insurance, manufacturing, education and government. TAB SOLUTIONS PROFESSIONAL SERVICES Design & Implement Complex Solutions FILING SYSTEMS Increase Information Access & Productivity TECHNOLOGY SOLUTIONS Software Solutions for Identification and Management of Critical Information STORAGE SYSTEMS Maximize Storage & Optimize Space Microsoft Windows is a registered trademark of Microsoft, Inc. Contact one of our representatives today. UNITED STATES CANADA AUSTRALIA EUROPE PROFESSIONAL SERVICES FILING SYSTEMS TECHNOLOGY SOLUTIONS STORAGE SYSTEMS A-11-TE-SOL-B