Records Management for Business | Expense Reduction

records management

We help our clients to achieve best arrangements and value in a range of aspects associated with Records Management and Information Management.

All organisations create a large volume of information on a daily basis that legislation and regulations stipulate must be kept, protected and must be readily available. For some items of personal data, the data must be ‘disposed’ of after a designated time.

ERA has experienced specialists able to assist organisations in managing that information and data and achieve significant savings while complying with their legal and regulatory obligations.

A little more information

Records management (RM), also known as the records and information management or RIM, is the professional practice of managing the records of an organisation throughout their life cycle, from the time they are created to their eventual disposal. This includes identifying, classifying, storing, securing, retrieving, tracking and destroying or permanently preserving records.

The purpose of records management is part of an organisation’s broader function of Governance, Risk, and Compliance and is primarily concerned with the managing the evidence of an organisation’s activities as well as the reduction or mitigation of risk associated with it.

The definition of ‘document’ and ‘record’: in records management it is important to be clear about the difference between a document and a record.

A document is any piece of written information in any form, produced or received by an organisation or person. It can include databases, website, email messages, word processor and spreadsheet files, letters, and memos. Some of these documents will be ephemeral or of very short-term value and should never end up in a records management system (such as invitations to lunch).

Some documents will need to be kept as evidence of business transactions, routine activities or as a result of legal obligations, such as policy documents. These should be placed into an official filing system and at this point, they become official records. In other words, all records start off as documents, but not all documents will ultimately become records.

ERA has an excellent record of achieving very high levels of savings with traditional off-site storage (boxes, files, deeds, wills, architectural drawings, etc.), scanning, digitising and secure shredding. They also assist with the management of electronic data.

At ERA we are also concerned with broader issues than the price you pay for the storage, management and disposition of your business records. We recognise that our clients have responsibilities for information security, data protection, business continuity, risk management and compliance. There are a raft of statutory and industry specific regulations and our aim is to find solutions that can assist you in compliance with those obligations as well as save you money.

COST AREAS INCLUDE:

  • Document Storage / Archiving
  • Records Management Consultancy
  • Scanning and Digitising
  • Shredding

Records Management Services

Our projects usually start by reviewing current arrangements, with particular focus on the current contract in place. We analyse your existing arrangements and future requirements in order to form a profile of the needs of the organisation from both a legacy and forward-thinking perspective.

Our initial engagement is often to focus on paper records; however, when relevant, our solutions consider process improvements, compliance and often the future effective management of documents in electronic formats and the integration with in-house systems.

From these initial interactions, ERA gains an understanding of both requirements and current processes, and can liaise with existing suppliers and go to market as necessary, to produce the best outcome.

We will deliver the optimal solution for your organisation to best manage the requirements and needs in an area where legislation is becoming more onerous.

ERA’s knowledge of the market ensures that we are in a position to understand the best pricing available and to get those prices for our clients. We know what others are paying and the suppliers know that we know.

For the cost savings element of the reviews we undertake, a full and forensic analysis of current volumes and expenditure is undertaken to estimate precisely the value of future expenditure and potential savings that ERA could achieve. This analysis also provides potential suppliers with the information they require to tailor their responses to the specific needs of our client.

We believe that in our projects we will deliver the following:

  • Provide clients with a self funded outsourced solution that is in line with current best practice and likely future developments.
  • Tangible cost savings.
  • Provide independent Records Management expertise and resource to supplement that of the client’s own staff enabling an accurate, independent and impartial assessment of total cost of operation for current policy and procedures and advice on opportunities to enhance performance.
  • Provide an accurate and impartial assessment of the available alternative options for consideration.
  • ERA will advise on any area identified where the organisation may appear to not be fully compliant with its obligations in terms of information security and data protection.
  • Minimise administrative burden and the time our client need allocate to this area of expenditure as well as conducting the project whilst we work under the guidance of the client.
  • Introduce suppliers who are capable of being long term strategic partners and actively assist them on their journey.
  • Assistance in further developing their Information and Records Management Strategy and improve compliance with their Information Governance obligations.
  • Secure improved contractual terms and conditions from potential suppliers and ensure our clients secure the best value and lifetime costs of operation for off-site storage of paper records.
  • Ensure onerous terms that are common in document storage contracts are avoided.
  • Assistance in planning and execution the selected solution.
  • Access to the specialist expertise of ERA.

Records Management Case Studies

Category Savings:32%
Category Savings:26%
“Our long-standing document storage supplier is also a long-standing client, so had to be approached sensitively. Through a thorough collaborative review by all parties of the services used, including rescheduling various deliveries and collections, and after market testing, ERA was able to deliver savings of over 30% without any negative cost of change.” - David Abrahams, Finance Director, Matthew, Arnold & Baldwin LLP

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