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1
Introduction 
2
Business Drivers orRecords Management 
6
Implications o Regulatory andCompliance Mandates 
9
The Value Chain in InormationLie Cycles 
11
Changing Ofce Technologies 
14
Organizational Best Practices
Contents
Eective Records Management inToday’s Business Environment
Records Management
 
Eective Records Management in Today’s Business Environment1Océ White Paper
Introduction
Successul enterprises have come to rely on inormation as a major internal asset toleverage or as a lucrative product to sell.There is increasing public scrutiny regarding the need or corporate leaders to assure thatbusiness inormation in the orm o recordscan be trusted, protected and producedwhen required. The importance o properly managing business records is covered in newssources almost daily, including the ailureo some organizations to retain records ormandated time periods (Arthur Andersen)and the discovery in some cases o reputation-damaging emails (Microsot and many others). Regrettably, litigation requently is a tactic used to resolve disputes betweenpersons and organizations. Governmentalinvestigations routinely are initiated whenaudits yield ndings o non-compliance withexpected business practices or activities. Inboth o these scenarios, there is an immediateocus on how well management supportedthe proper retention and timely production o records, in either paper or electronic ormat.The deault assumption is that employeesperorm job unctions as delineated by policy,procedure and management directives.Executive level attention to records managementstrategies, policies, procedures, and technology systems now is the expected practice inwell-run organizations. Executive signaturesrequired on nancial statements by theSarbanes-Oxley Act (SOX) make it critical tomanage enterprise inormation and evidentiary records in a well-documented and consistentmanner. Each organization’s value chain andinormation workfow must have supporting records management activities and auditablebusiness processes that clearly document thestatus o activities; i.e., what is known, andwhen everyone knew it. A careully developedrecords management strategy and rigorously enorced company inormation managementpolicies are the key to achieving excellence inmanagement that promotes customer, investor,regulator, employee and public condence in anorganization’s activities, products, and services.
 
Eective Records Management in Today’s Business Environment2Océ White Paper
Today’s complex business environmentsgenerate numerous challenges or bothmanagement and employees. Fast-pacedchanges in oce technologies, changing governmental mandates and global competitioncreate both obstacles and opportunities.However, a common aspect o all businessenvironments is the constant demand orontime access to data, inormation anddocumentation. Inormational businessrecords are needed or operational guidance,reporting to auditors, documentation o intellectual capital, evidence in litigationand a variety o other tactical and strategicdrivers. Business records with criticalinormational content must be locatable andretrievable quickly and accurately. Otherwiselost productivity, public embarrassmentand damaged nancial status may result. O equal importance is the transition o mostenterprises today rom siting through pileso paper to managing gigabytes o data. Thisshit creates a mandate or an enterprise tocontrol and manage its oce.Inormation is one o the most vital strategicand operational assets o organizations.Organizations depend on inormation tomake critical strategic decisions, protectcontractual rights, support innovation,develop products, deliver services, drivemarketing, process transactions, servecustomers, and generate revenue. Thisessential inormation is contained in businessdocuments, or records. Business records needto be eectively managed. Senior executivesultimately are responsible or the prudentstewardship o corporate assets. Yet many companies today lack eective policies andprocedures to control, manage, preserve andretrieve critical corporate records and otherbusiness documents. Consequently, they wastevaluable time searching or inormation whenit is needed, risk severe penalties and loss o corporate reputation or non-compliancewith records-related regulations and legalstatutes, keep some records too long, spendtoo much or storage, and too oten ail toprotect mission-critical inormation rom lossor destruction.Because operational eectiveness is a concernor shareholders, customers, and Boardso Directors it is incumbent on Chie Executive Ocers (CEOs) to be ully awareo their current corporate records practices,requirements, and known gaps in meeting goals. Eective enterprise strategies mustbe in place to assure that inormation assetsare well-managed. Records management isoutside the line o business unctions andcore competencies o most organizations.Thereore, companies wishing to adhereto recognized best practices increasingly turn to third party solution providers withproessional records management experienceand expertise. Without such externalproessional assistance, organizations mustbear the direct cost o internal developmentincluding the required expertise, acilities orequipment or the development o recordsmanagement programs and solutions.
Business Drivers or Records Management
Information is one of the most vital strategic and operational assets of organizations.
Organizationsdepend on inormation
to make critical strategic decisions, support innovation and generate revenue.This essential information is contained in business documents or
records
.
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