Whether you are dealing with information governance and records management practices across departments in a single company or across subsidiaries in different countries, establishing common information governance and records management practices and tools is challenging.
One of our customers, a large finance and leasing company, faced this exact problem. With offices spread across the globe, they wanted to establish common information governance and records management practices across multiple subsidiaries spanning seven countries.
They learned that there were two critical parts to this challenge. First, they had to define practices that, one the one hand, were consistent across the enterprise but, on the other, allowed for local differences that addressed different regulatory requirements in different locations. Second, they needed an enterprise records management solution that could support the processes, including the differences.
Their experience was that allowing different offices to define their records management processes independently made it difficult to improve those processes effectively and impossible to gain an enterprise perspective on the business. A decentralized approach to managing records meant inconsistencies and compliance risk, and an inability to search across all systems from a single point of search.
Ultimately, they learned that even when in operating different regions with different compliance rules they can still leverage a centralized enterprise solution. The system they implemented allows for consistent information governance policies across geographies even while addressing local regulatory requirements, and connects records-producing systems into a single system that allows management and searching of records, wherever they are located.
Improved Visibility and Increased Efficiency
Let’s talk about what a centralized records management solution can do for you. It provides a single place to manage your records, regardless of what system they originated in or what country they belong to. It gives you one place to make changes to retention rules and other compliance rules or policies and have those rules automatically applied across all necessary records.
Let’s take it further. Add a federated search combined with near real-time indexing capability on top of that archiving system, which connects systems used in the different offices, and you can quickly search and retrieve information and have results returned that point to information located in several different locations.
Of course, this search capability must be security aware, so only those with proper access can find the documents they need.
In the end, this is all about improving the visibility of information, and the consistent governance of information, across all of an organization’s locations. It’s also about increasing the efficiency of operations, because trying to manage retention policies and other compliance rules on company and country basis in a manual way, is nearly impossible to do.
Is this Company’s Story Your Story?
Is part of the challenge of information governance and records management at your company related to the fact that you span multiple departments, entities or even countries?
Creating a universal information governance model that spans the organization is a challenge, but a challenge that can be overcome with the right records management solution. Learn more about how one financial services company met the challenge; check out more of their story here.