Business benefits of Enterprise Records Management
Enterprise Records Management (ERM) is the discipline of capturing, managing, accessing, and securing information which must be preserved and protected for legal, regulatory, or business purposes across the enterprise.
In today's context of increasing governance and regulatory oversight, organizations are using ERM in every country of operation and across borders. This requires compliance with multiple regulations across different jurisdictions. Organizations are driven by the legal obligation to protect, retain and intelligently destroy records and information according to business rules, as well as leverage the business value of this critical asset to help drive efficiencies.
The enterprise must capture, manage, retain, and protect electronic information produced by its knowledge workers, project groups, as well as their physical records. They must also manage, maintain, and protect records from all business applications as well as SharePoint, Web 2.0 media, and social media. Also of critical importance is to simplify information discovery.
Key benefits of ERM
- Meeting regulatory compliance is a business obligation: non-compliance exposes the business to financial penalty, legal and operation risk and cost
- Ability to leverage your information improves staff productivity and drives business efficiencies and service to the customer
- Compelled by increasing volumes of information, secure access to the right information at the right time enables better use of information and ability to respond to legal discovery and audit
ERM as a catalyst for change
The enterprise can leverage regulatory compliance obligations as a powerful and comprehensive catalyst for positive change. Viewed in this way, ERM investments provide a valuable opportunity to improve business process efficiency, boost staff productivity, and lower costs. And the right ERM investment can payback in under 12 months*.
HP has a 25-year track record in records management, and offers scalable enterprise records management in one solution – HP TRIM. Working with KPMG to optimize its business processes, HP has used this solution to automate critical aspects of its own records management processes, reduce its archive footprint and enable enhanced risk management.
* Forrester Research (September 2006) on HP TRIM.
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