Many enterprises of all industries are required to capture, store, and manage electronic records, as well as physical records. Any organization that does not provide effective records management — electronic and otherwise — faces the potential for serious consequences, including heavy fines and in some cases, criminal prosecution for employees who knowingly destroy or falsify records. Companies in the financial services and healthcare industries face extremely strict information governance requirements due to the regulations in those heavily regulated environments.
A standalone records management solution without integration creates information silos that prevent the access and use of important organizational content. Siloed records management solutions lack the flexibility to address changes in policies and regulations as they occur or become more stringent. As organizations continue their efforts to resolve today’s rising compliance issues and begin to move away from this siloed infrastructure, one thing is clear – records management policies should be enforced through technology driven processes. Records storage is inherently more reliable and consistent when it is backed by sophisticated, scalable infrastructure and is controlled by structured, repeatable processes that have been thoroughly proven and tested over time.