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Features
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Sarbanes Oxley : Thought Leader
ARMA International Challenges Corporations to Review Records and Information Management
Global professional organization, ARMA International, suggests new alternatives for companies seeking improved regulatory compliance and reduced risk; offers simple tips
By
David McDermott
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David McDermott
ARMA International
ARMA International
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Increased regulations such as Sarbanes-Oxley, high-profile SEC investigations, embarrassing e-mail discoveries, and increasingly costly class-action litigation continue to illustrate corporate America?s inability to effectively manage business records and information. Knowing they are at risk, companies are scrambling to find solutions ? often spending millions to safeguard data and information, without knowing much simpler and more effective compliance and risk-reduction solutions are available.
In April, the professional members of ARMA International will call upon corporate America to take the first steps in this effort by understanding and reviewing their Records and Information Management (RIM) policies.
?Information is one of the most vital, strategic assets any organization possesses. And managing that information is an obligation that demands the attention of records management, legal, IT and HR leaders, executives and corporate boards,? says David McDermott, CRM, Past President and Chair of the ARMA International Board of Directors. ?Unfortunately, most companies fail to recognize that proper information management can be the most effective means of reducing their risks, while also increasing regulatory compliance. A collaborative approach involving records managers, IT and legal is needed to address compliance concerns.?
With more than 150 chapters in the U.S., Canada and around the world, ARMA International is the primary resource for those who manage records and information. As a professional, not-for-profit organization, ARMA International is dedicated to helping companies understand today?s records management issues and leverage information, resources and standards.
ARMA OFFERS SIMPLE TIPS:
As part of the organization?s celebration of International RIM Month, ARMA International encourages you to take the time to review your information and data management policies, and offers the following tips:
Know your RIM IQ: In order to successfully evaluate your company?s records and data policies you must first understand the issues surrounding RIM. Take the time to read articles on the information management issues facing corporations today including electronic records management, Sarbanes-Oxley and SEC rulings, and data protection. A good place to start is ARMA International?s Web site, www.arma.org. ARMA International has developed a quiz to help members and non-members evaluate their RIM IQ without charge at www.arma.org/rimIQ.
Think outside the box: Records and information management is everybody?s job, and it starts at the desktop. It?s about managing e-mails, versions of electronic documents, vital records, instant messages, and the list goes on. With the increasing number of personal communication and production devices, everyone needs to be aware of what needs to be saved, when, why, and for how long.
Take the time to train: Individual employees play a critical role in helping your organization comply and succeed in litigation, audits, document preservation, and daily records and information management tasks. Make sure they get adequate training on these topics. To make it easy, ARMA International and Kahn Consulting Inc. have produced Keeping Good Company, a new DVD-based information management training program complete with facilitator and participant workbooks. It can even be licensed for use on your corporate intranet for easier access and administration. Web seminars are another good way to train your compliance team. A free compliance web seminar is available from ARMA International at www.arma.org/aprilseminar. The seminar is sponsored by Stellent and registration is available until April 9.
Evaluate your electronic records policies: With the growth of electronic records ? including e-mail, voice-mail and instant messaging ? the capacity for discoverable information has increased. The international records management standard, ISO 15489, applies to all relevant business records, including electronic records. This month, create or review your company?s electronic records policies. Pay particular attention to your e-mail retention policies emphasizing retention based on the content of the messages, not the application. Online self-assessment tools to help determine a company?s e-discovery readiness or the general strengths and weaknesses of its records and information management program can be found at www.arma.org/profiler.
Form a compliance team: In today?s information-centric enterprise, compliance requires that legal, IT and RIM all be at the table. No one department can provide a complete solution to your company?s regulatory compliance needs. Assemble a team from these ? and other key compliance-related areas ? to work together to assess the organization?s potential risks and identify the policies, processes, and technology required to address them. Again, take advantage of the online self-assessment tools at www.arma.org/profiler.
ARMA International is a not-for-profit professional membership association and the authority on managing records and information. Established in 1955 and with a membership of 10,000+ records and information managers worldwide, ARMA is the oldest and largest international association dedicated to the management of records and information. ARMA International?s members include records managers, archivists, corporate librarians, imaging specialists, legal professionals, IT managers, consultants, and educators, all of whom work in a wide variety of industries, including government, legal, healthcare, financial services, and petroleum in the United States, Canada, and numerous other countries.
ARMA International is active in the United States and internationally in the development of standards and guidelines related to records and information management, including ISO 15489, the only international records management standard. It also publishes the award-winning Information Management Journal, a bi-monthly publication featuring articles on the cutting-edge technologies, business trends, and issues in records and information management.
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