Not many people find information management strategy such a spellbinding topic that they can’t stop thinking about it.

Trial and error has proven one hypothesis to be absolutely true: If you start a conversation about information management strategy at a barbecue, you’ll soon find yourself hanging out with the host’s cat.

When you picture the scene like that, it makes sense, really. After all, not everyone is as passionate about document management, retention schedules, security, and the planned destruction of information as RIM specialists are.

But really, when you look at the impact of NOT having a sound information management strategy, the topic gets a whole lot more interesting. Especially on the day someone gets called on to produce a document they cannot produce. Plus, the hearts of entrepreneurs and most executives beat a little faster any time they have the opportunity to learn ways to make their businesses more profitable and better protected.

It usually takes a big news story involving stealthy midnight shredding sessions, wholesale destruction of email, or a stray incriminating notation in a file that leads to a multi-million dollar legal settlement to turn people’s minds to the topic of document management. However, even without the sensationalism and pursuant bad publicity, issues like these occur in businesses every day. They are also entirely avoidable, with a sound strategy in place – the kind of strategy that not only provides robust protection, but also saves companies money in the process.

Here are the questions we wish we’d hear more often:

What does records and information management really entail?

Information management is not just a buzzword. It’s an actionable strategy that includes the phases of planning, implementation, training, and support. What it entails in your case depends on where you start. No two companies are exactly the same.
Company “A” might already understand the benefits of a records retention program and might even have the beginnings of a program in place. “A” just needs a project manager or a consultant to implement the program and train employees.

Company “B” might be a bit further behind the curve. Perhaps they operate under the assumption that those who create records know how to maintain them. “B” needs to learn the legal guidelines and best practices for maintenance, management, security, and destruction of information. Then “B” can assess its current versus desired environment and decide on a records strategy.

“B” has a steeper learning curve. But in each case “A” and “B” will end up with a records management lifestyle. Once the foundation is built, records management requires continuous practice and support. New employees require training and seasoned employees will need refreshers on updated guidelines. Like exercise, the benefits are realized by practicing consistently rather than starting and quitting, or trying to fit it all in on a Saturday morning.

How does information management link to business strategy?

Information management strategy deserves a place in a company’s core objectives. It’s one of the enablers to meet corporate goals of efficiency, profitability, security, and service to customers and shareholders.

Check in with your managers on alignment with corporate direction. Better yet, be an executive role model for information management. Leadership priorities have a tendency to shift support, either positively or negatively.

What is the financial and time commitment for getting a document management strategy in place?
The answer to this question will change over time. Start-up requires a greater commitment of resources. Maintenance requires less time and money but mandates dedication and leadership support. If a RIM program implementation includes documentation of records management policies and procedures, a solid foundation is built. Then, you can place the bricks of training and support on a level foundation.

What are the key benefits?

The way you maintain, manage, and retain information has both significant financial repercussions and softer quality impacts.

• Expect the following key benefits:
• Improved employee efficiency
• Reduced storage costs
• Greater security from threats
• Peace of mind from a disaster recovery plan
• Avoidance of legal hassles
• Better service to external customers
• Preservation of corporate history

The number one benefit is your level of success in business depends on effective records management. Starting today makes business sense.

What’s the starting point for adopting an information management strategy?

Again, it depends on where you are right now with regard to your procedures and policies. The first step Cadence takes with any new client is to gather information so we can assess your needs and the state of your RIM Program foundation. We compile this information into a Findings and Recommendations Report that will show you how well your current plan matches with best practices. Where there are gaps, we will make recommendations about how you can better satisfy legal and regulatory requirements, how you can implement and sustain a workable information management program, which technology options would best suit your needs, and how you can reduce your costs and your risks as well.

You might not ask any of these questions if you run into a RIM expert in a social gathering, but you certainly could. And, no matter what the occasion, getting answers to these questions could spark improvements in your business that might prove to be pivotal.