Innovation key to records management success, expert says

Speaking at the recent 2012 PRISM International Annual Conference, Terry Jones, founder and former CEO of Travelocity, told audiences that innovation has emerged as the key theme for enterprise operations, Storage & Destruction Business reported.

According to the news source, Jones explained that the recession created a somewhat unique environment in the enterprise. Because of the extended period of slow or no economic growth, organizations have to focus on innovation now that the economy is beginning to recover. Companies that focus on innovative practices can put themselves in a position for success, while those that fail to integrate new technologies run the risk of falling behind their competitors.

Jones told audiences that the need for innovation is especially clear in records storage and management, where many industries are experiencing a large-scale switch from paper-based practices to efforts to implement digital records management policies and procedures, the report said.

Periods of slow economic growth limit the amount of money companies have to spend on new technologies and projects. As the economy begins to recover, more organizations are realizing that they have to remain fiscally responsible or risk overspending and falling behind in the long run. As a result, efforts to deploy innovative technologies need to be accompanied by strategic planning and resource optimization.

One way to make the most of records management and storage resources is to develop an outsourcing partnership with an information management company. This relationship allows businesses to more easily handle records management processes through the third-party vendor's services and expertise. For example, organizations can access consulting solutions from a records management company, providing them with key insight on regulatory compliance processes and helping ensure that all legal considerations are taken into account when developing records management plans.