Record Management Challenges
Changes in record management demands are driving the need for businesses to manage and protect their client and internal records far more diligently, securely, and cost-effectively than in the past. Specifically factors such as an increased need to meet regulatory compliance, competitive pressures demanding faster access to client and corporate information, an enhanced focus on ethical conduct, and increasing requirements to adhere to client data governance standards has put pressure on existing corporate records management strategies.
Failing to get it right can result in increasingly severe risks and penalties, including fines for non-compliance, loss of direct revenue and business, exposure to customer and shareholder lawsuits, and the resulting loss of market share and competitive leverage.
These record management demands have seen the corporate records environment grow at an exponential rate. Electronic Document Management (EDM) or e-filing systems have helped to eliminate some of the inefficiencies associated with paper records management. However e-filing raises its own set of specific challenges as most in-house IT Management systems are not built to safely store and retain records for long periods of time, due to several factors including:
- The lack of retention, and purge policy control
- The ability for almost anyone to delete data without adherence to corporate policy
- Lack of flexibility to cater for sudden increases in capacity usage due to new case work loads
- Inadequate Backup and Disaster Recovery protection
- Lack of Security and Privacy of online documents
- Inability to effectively search for relevant information
- High infrastructure & resource costs
If there is any question on the EDM solutions supporting storage capability to provide safe and effective long term records management, retrieval, and compliance, then often the business is left with a fragmented, inefficient and costly document management practice reliant on both paper and electronic records. This places a huge strain on internal staff resources that deflect productivity away from core business operations.
With industry leading expertise and unmatched resources and experience in customer data asset protection, Global Storage provides a Cloud based Records Management service specific for the e-filing requirements of Legal, Financial, Government and Enterprise ASX200 Customers.
VaultReady™ Record Management Service
Global Storage’s VaultReady™ Record Management Service (RMS) is a highly secure online data vaulting service that addresses the challenges of electronic record management and helps businesses to control costs, protect information, reduce risks, and guarantee the fast search, retrieval, and long term access to important business records.
Reduce storage management costs and increase flexibility with Storage-on-Demand
Delivered as a fully managed cloud service, VaultReady™ RMS allows your business to significantly reduce traditional record management costs associated with paper records management, IT storage systems, document search charges, and backup and disaster recovery systems.
Global Storage’s VaultReady™ RMS service also flexibly caters for increases in work loads and information growth on a capacity on demand basis. This ensures your business only pays for the records storage that it needs, when it needs it.
Ensure the safe long term retention and retrieval of client & business data
VaultReady™ ensures that stored records cannot be accidently deleted or overwritten, and are retained according to the specific retention policies defined by your business. The VaultReady™ RMS service replicates data offsite to two separate Global Storage data centre locations eliminating the need to separately backup or replication data for Disaster Recovery purposes.
Enhance productivity and records search with full text indexing
VaultReady™ RMS is designed to streamline online records storage, retrieval and access. With full text indexing of stored documents and email, employees can search VaultReady™ RMS online storage for documents containing specific words or phrases to always find exactly what they're looking for and to respond quickly and thoroughly to information requests.
Long term electronic records management & retention for Legal, Finance, Government & Enterprise
Learn how Global Storage meets the records management challenges for:
How VaultReady™ Works