Procter & Gamble?s Commitment to Good Governance


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Procter & Gamble?s Commitment to Good Governance

A.G. Lafley
Chairman of the Board, CEO
Procter & Gamble

There have been several high-profile examples recently of just how costly mismanagement of corporate records can be. It has cost two of the nation?s largest brokerage firms millions in fines by the U.S. Securities and Exchange Commission and legal penalties. So when records management is done well, there?s good reason to sit up and take notice.

Procter & Gamble is a good example of a company that has made management of records and information a governance issue. The result is the more efficient use of information, which reduces costs and potential liability and improves competitive advantage. (Read more about it at www.arma.org/promoteRIM

Procter & Gamble has been named among the top five Most Admired Companies in 2006 by FORTUNE magazine and Procter & Gamble ranks as the third Most Admired Company globally. They also have been recognized for their records and information management excellence with the 2005 Iron Mountain / ARMA International Award for Overall Excellence in Records and Information Management.

The prestigious Iron Mountain / ARMA International Award for Excellence in Records and Information Management is the highest honor bestowed in the Records and Information Management (RIM) field. Winners exemplify the best practices in records and information management today.

Procter & Gamble won the Overall Program
Excellence award for their efforts to create a global retention schedule and policy while making records management a part of everyday business life, and to improve the management and sharing of critical and research records. One juror from the awards committee stated, ?The P&G project shows records management professionalism at its best: application of RIM principles, strong systems analysis and project management methodology, appropriate use of technology, partnership among business units, and sponsorship from top management. It is a great example for anyone (from any size organization) to use as a template to approach RIM issues.?

"Records management is important at P&G,? says A.G. Lafley, Chairman of the Board, CEO of Procter & Gamble. ?First and foremost, it's part of P&G's commitment to good governance. Second, it helps ensure we have the right information available at the right time in the right place to make smart business decisions. Third, it makes us more efficient and helps keep costs low ? and lower costs ensure P&G brands provide superior consumer value."

In a free download (located at www.arma.org/promoteRIM readers will learn more about Procter & Gamble?s records management program and how the program supports the company?s business directives, reduces costs, and complies with laws and regulations in the more than 80 countries in which Procter & Gamble does business.

As part of Records and Information Management Month ? celebrated each April ? the professional members of ARMA International will call upon corporate America to take steps toward good governance by understanding and reviewing their Records and Information Management 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 United States, 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 International 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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