Unstructured content creates risk and costs to organizations. RecordLion encourages compliant, defensible, and automated records retention while leaving end-user processes unchanged. Organizations like the one profiled benefit from simple, pragmatic, and affordable solutions to automate compliance.
Executive Summary
A large organization in the energy industry was facing a myriad of issues regarding their overall information governance program. First and foremost, they needed to complete their file plan and implement the associated policies. The company selected RecordLion due to the ability to simply, automatically, and cost-effectively enforce these policies and apply them to records across the enterprise.
Challenge
The energy industry is heavily regulated and therefore requires corporations to give careful consideration when it comes to establishing and enforcing a file plan. The organization discussed in this case study understood these considerations and needed to find a solution to their challenges while meeting their budgetary and technical requirements.
In addition to compliance concerns, they faced several daunting challenges with their information governance program. Prior to RecordLion’s involvement, some initial action was taken and research was conducted on a possible solution to solve some of these issues. However, a combination of being unable to find the right software and not having their file plan completely in place delayed this initiative.
Both their SharePoint and network file shares held critical records that were not being managed consistently. This not only presents potentially serious compliance issues, but contributes to workflow inefficiencies. By relying on end-users to properly classify and move records, information governance was an extremely time-consuming and frequently inconsistent process.
How RecordLion Helped
RecordLion consulted with the organization and implemented the Information Governance software. The first step was importing the file plan, which saved the company’s records team the arduous task of manually entering it. The RecordLion software is able to direct a centralized file plan to ensure governance rules are applied to information across repositories according to policy. Information is retained for the proper lifecycle, held for litigation or audit when appropriate, and disposed of when the lifecycle expires.
As the company’s information governance program grows to include all of their business units, RecordLion is capable of scaling and providing continued, automated records management. RecordLion strengthens the business’s SharePoint and file share environments and provides the option to manage records in both current and future systems from one central policy hub.
Finally, because of the simplicity of RecordLion’s software and rules framework and the efficiency of both the company’s and the RecordLion team, the project was completed ahead of schedule.
Result
As a result, this large energy company is experiencing several positive benefits including quantifiably improved compliance and automation of policy enforcement. As previously mentioned, compliance is a high priority in this industry and carries serious consequences if violated. This automation dramatically improves accuracy and allows end-users to focus on their core responsibilities.
Additionally, the organization was able to realize savings by regaining electronic storage space previously occupied by redundant, obsolete or trivial (ROT) data. This data is often a major compliance risk as it is not being properly governed.
Overall, the organization’s information governance program has been effectively established with a fully detailed file plan and the proper software solution to automatically apply policies to all enterprise data.