Last weekend I was trying to find a photo for a charity event I've been involved with for many years. I spent over two hours looking through folders in two different computers and through several boxes of physical photos until I finally found what I was looking for. I was so frustrated by the time and effort it took to locate, that decided it was time to consolidate and organize our family photos. I want to preserve these important keepsakes and make it easier to find what I need the next time. I found myself drawing a parallel to one of the challenges still facing companies today in their RIM programs.
Consolidate for time and cost savings not just for compliance
Many companies store their physical and electronic records in so many different places with so many vendors. This inevitably leads to access, audit, litigation discovery and compliance challenges. In addition, it drives up total cost of ownership and personal frustration not knowing whether you can find what you need when you need it (similar to my photo experience).
This is somewhat surprising given most organization's understanding of the growing compliance obligations surrounding their business records and importance of a well-designed and executed RIM Program. In addition, the resurgence of Procurement groups as more strategic, value-add contributors to their company's business success has led to a focus on reducing the number of vendors, business process improvement and total cost of ownership over simply pitting one vendor against another for unit pricing. So, why haven't more companies pursued the advantages of simplifying their programs?
Take a Proactive and Risk-Based Approach
Perhaps this can be explained by preconceived notions regarding the cost, staff, resources and time it will take to do so. Clearly it's not realistic to think that you can consolidate all records into one vendor and system. We all wish this silver bullet existed, but it doesn't today. Companies that have been successful pursued a risk-based approach to vendor and system consolidation which allowed them to gain control and simplify management in a cost effective manner. Be proactive! Don't wait until you have that major trigger event that turns your world upside down and could cost your company millions and potentially your job along the way.
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Last weekend I was trying to find a photo for a charity event I've been involved with for many years. I spent over two hours looking through folders in two different computers and through several boxes of physical photos until I finally found what I was looking for. I was so frustrated by the time and effort it took to locate, that decided it was time to consolidate and organize our family photos. I want to preserve these important keepsakes and make it easier to find what I need the next time. I found myself drawing a parallel to one of the challenges still facing companies today in their RIM programs.
