records management system

7 Core Capabilities for a Next Generation Records Management System

How much content does your organization store? I bet it’s a lot. Content from customer interactions, content from product and services, content from internal processes, partners, suppliers, stores – the list goes on and on. Recent research shows that by 2020 the world’s data will grow to 50 ZB from 10 ZB in 2010. Now that’s not all your information, but you have plenty to look after. And that’s why you need a next generation records management system.

Think about all the content you have in business systems. There are a lot of records there to manage. Now think about all the content you have stored in file shares, Google Drives, Office 365 and other repositories – you need to manage the content in these repositories as well. You need some type of records management solution to help you manage this information. But not all records management systems are alike. Some are so complex to use that only a few people use them and even fewer records get managed by them.

With the help of our partner, Flatirons Jouve, we’ve identified seven core capabilities for an agile, next-generation records management solution. Here they are:

1. Connectors for Real-time Data Ingestion

You need a way to easily connect to all the business systems and repositories where you manage information. You want a solution that can connect in real-time, at the point of record creation (or when a trigger occurs) and either pull those records into the Records Management System, or manage them in-place.

2. File Analysis

Not every piece of information is a record. You need a way to analyze all the information in your systems and figure out what is a record to manage. File analytics tells you what you have and where it’s located. It also helps you determine what is ROT (redundant, trivial and obsolete) so you can dispose of it, what is personally identifiable information and needs proper records management.

3. Ingest Records or Manage Them In Place

The reality is that you won’t want to store records solely in your records management system. Some you will manage centrally, others you will want to leave in the systems where you created them for different reasons. The records management system you use should provide the ability to do both giving you a central place to manage the records, regardless of where they reside, and a central location (single pane of glass) to search for the records you need.

4. Automatic Classification

You can try to force your employees to classify your information manually. Some will do it, some will do it right, and others will not have the time or patience to do it at all. The right records management solution will provide the ability to analyze and automatically classify your records according to a defined taxonomy and metadata rules.

5. One Place to Search for Records

It takes time to search through multiple systems to find the records you need. Time you may not have. And what if you miss something? These are challenges you can avoid with a records management system that can connect to multiple systems via federated search (and secure search by the way).

6. Apply Complex Retention Rules

Rules are rarely straightforward and simple. Conflicting regulatory requirements, changing business objectives and other factors can make retention rules complex. Your records management solution must be able to understand and apply complex retention rules automatically. And that includes being able to change the rules after a record is created to reflect changes in compliance rules and other decisions.

7. Automatic Disposition Tasks

You may want an administrator to review records that have reached the end of their retention period, but then you want a system that will automatically apply the disposition rules. That may be moving a record to an archive or triggering the final disposition (destruction) of the records. This part of the records management process should not be manual and open to mistakes.

There you have them – seven core capabilities of a modern, next generation records management system – each one an important capability in today’s ever-changing world.

Want to learn more? Download the whitepaper: How to Simplify Complex Records Management in Compliance-Driven Organizations.