Smart Sort destroy records in financial services

Challenge

A large financial services company was looking to reduce cost and risk by destroying records as they met destruction eligibility. They were storing 10+ million active and inactive files at Iron Mountain in open shelf storage and needed a better way to manage their records as they continued to grow. Managing this project on their own was resource intensive and cost prohibitive, so they turned to Iron Mountain for help.

Solution

By leveraging the Smart Sort solution, Iron Mountain specialists reviewed and sorted all files by destruction eligibility year and boxed them accordingly. By utilising Smart Sort, the company was able to use a less expensive storage medium and save even more by destroying all files that met retention requirements.

Results

• Sorting through millions of files was cost prohibitive but Smart Sort's technology driven approach made it a cost-effective solution
• All files were identified, sorted and boxed by eligible destruction eligibility year
• Safely and defensibly shred 3+ million files
• Reduced record storage costs by 33%
• Established a more seamless and efficient defensible destruction process

With smart sort, you can

• Easily Identify Destruction Eligibility
• Iron Mountain leverages data from your existing database and retention schedule to assess destruction eligibility.
• Enable Box-Level Destruction
• Records will be sorted according to destruction eligibility year to simplify ongoing retention and destruction management.
• Reduce Program Costs And Risks
• Initiate immediate destruction of eligible records to reduce storage costs and mitigate legal discovery, audit and compliance risks.
• Improve Find Rates
• At the completion of your Smart Sort project, you will have an up-to-date file-level listing that enables accurate and efficient records management.

Holding on to records longer than needed will only increase cost and risk over time. Stop wasting precious budget and resources simply to delay the inevitable. Turn chaos into compliance with this cost-effective solution that enables you to organise for efficiency, immediately destroy eligible information and, ultimately, eliminate unnecessary cost and risk from your records management program.

To learn more, contact your Iron Mountain account manager directly, or fill out this form to request more information. Include the words “Smart Sort” in the comments section.