Records and Information Management 360°™ solution for the Records Reducer
What if You Could...
- Easily reconcile your legacy physical records to your retention schedule?
- Classify and destroy up to 30 percent percent of the archived physical records you may no longer need?
- Use a legally credible methodology that has already classified millions of boxes?
Explosive data growth and the need to archive physical records have made it hard to keep up with retention periods, leaving your information vulnerable to discovery requests and audits. Without having a detailed inventory with indexed individual records, you may face significant costs from fines and financial settlements resulting from not being able to identify or the inability to produce records for litigation or discovery.
The increased need to properly destroy your records defensibly and storing only what you need to keep has made storage costs part of your financial burden. The longer you do nothing, the more money you’re wasting. If you’re like others, you’re probably overpaying by 30 percent.1 For every 10,000 boxes of records you have, you will pay $300,000 over the next 10 years in storage costs.1
Think about it, somewhere hidden in that sea of boxes could be that one document that you need for a rush request. Is your ability to locate a specific record like finding a needle in a haystack? Without the proper records and information management program, you may never find the “needle” you’re searching for. Being able to identify and/or properly dispose of obsolete records could make you the hero when it comes to audits or litigation requests.
You need a cost-effective way to defensibly destroy eligible legacy records. You need to reduce legacy physical storage volume by destroying those records you no longer need to meet a regulatory or legal requirement. Improving the integrity of archived physical records by completing a detailed inventory and indexing individual records can lead to lower discovery costs and dramatic cost-saving opportunities that can be invested back into your business to drive profitability.
The RIM 360˚ Solution for the Record Reducer is designed to help your company become more organized so records discovery is more efficient and storage costs are lower.
You’ll have Iron Mountain’s Data Integrity service, a proprietary tool developed over time to streamline the process of reconciling your legacy records to your retention schedule so you can identify those records past due for destruction.
By destroying the records you are no longer obligated to keep to meet specific legal or regulatory requirements, you can reduce operating expenses and free up dollars in your budget — resources you can invest back into your business to improve profitability. Given proper indexing and inventory systems, this solution enables your company to be prepared for litigation or discovery requests. Process-driven workflows based on best practices allow you to assign destroy dates to each record, so you’ll know which records are past due for destruction and what is eligible to be destroyed in the future. Iron Mountain Secure Shredding service is available to assist you by providing secure destruction services for your physical records that are eligible for disposal.
A large, multinational corporation that provides information technology services and professional services, needed to implement broader retention requirements for its global records and information management (RIM) program. Working with Iron Mountain, the organization made quick progress addressing retention requirements for 180,000 boxes of physical records stored at Iron Mountain and elsewhere. They categorized around 80 percent of those boxes using Iron Mountain’s Data Integrity methodology, and devised legally defensible disposal criteria for the remaining 20 percent, which had been sent to storage with so little metadata the company had almost no knowledge of or visibility into its contents.
- Successfully destroyed more than 55,000 boxes of physical records.
- Savings of more than $150,000 in year-over-year storage fees.
- Quick progress reducing records stored offsite helped gain senior leadership’s approval of more investment to continue advancing its RIM Program.