Recent research carried out in the U.S.A. suggests that companies are finally starting to realise the importance of investing in a structured records management strategy. At the time of the survey only 20% of all companies were ‘very confident’ that they would be compliant with the requirements of legislation such as Sarbanes-Oxley or E-Discovery.
Another survey conducted by AIIM reported that even those who had a document retention strategy in place, two thirds of the companies were only scanning 50% of all documents.
It is estimated, however, that by the end of 2010, over 50% of those surveyed will have implemented an electronic document managementsolution to store and manage valuable business information. These businesses will also have a document retention policy in place.
There have already been a number of high profile legal cases in America which prove how costly non-compliance can be and it is only a matter of time before we see similar governance rules taking effect in the UK. To learn more about EDMS and for advice on document retention policies etc., please call The IPC Group on 08081 45 46 47.