What? Where? How long?
In a world where electronic data has become the backbone of the global business sector, it’s amazing how answering these three questions correctly about your data can make all the difference for your company. All companies have truck-loads of data saved up, but the successful ones are those who don’t just save their data, but carefully organise it. Record management systems like OpenText Record Management do precisely that: reduce expenses by efficiently managing data. How? Well, a misfiled record can typically cost a company $120 to locate, and around $250 to recreate; figures that can swell to a whopping $14,000 per person per year. While you’re still digesting this, also know that the employee ends up losing 25% of his productive work time during this process. Suddenly, proper management of data doesn’t seem that trivial anymore, does it?
Since facts without proper information are just opinions, here’s how OpenText Record Management actually works to help save your company’s invaluable time and money:
Centralising and consolidating access to information
Like good data management systems, OpenText Record Management helps extract maximum value from business content by giving a clearer understanding of what the data represents. Access is improved by giving all the users the ability to create, classify, manage and retrieve all electronic and physical information.
Compatibility is the key
Electronic data, physical data, transaction details, customer database, complaints et al. Record Management efficiently manages all kinds of data types with their metadata and retention schedules in a variety of storage mediums and repositories like SharePoint, SAP, Lotus Notes amongst others.
Not just electronic, physical records too
OpenText Record Management also helps you organise physical items like paper records, equipment, and much more by making use of sophisticated barcode, warehouse, and circulation management techniques.
Ensuring transparency and accountability
Now never be in the dark about your data. With a detailed auditing process and logging system, OpenText Record Management makes sure all of your prominent activities have been properly documented and tracked. High-level views of all system activities ensure that your company’s litigation and auditing events are as hassle-free as possible.
Streamline retention and deletion process with a click
Let OpenText Record Management ease up your life by automating your retention and deletion process with the help of ingenious retention schedules. The system swiftly and interactively classifies information and moves them into folders accordingly. All in a click of your mouse.
Disposition process made better
With a powerful automated disposition algorithm in place, OpenText Record Management seamlessly arranges all of your data according to organisational requirements. Provision for detailed reporting and searching provides enhanced control over the entire disposition process.
The golden rule for all successful companies is simple: saving is earning. Companies try cutting corners in every department from marketing to tightening travel, but miss out on the hidden costs of record management. With a state-of-the-art data management system like OpenText Record Management, make sure those hidden costs don’t stay hidden anymore, and your company operates on maximum profits.