Committing to good information governance.

• Author: Lanter, Amy
• Position: IN FOCUS: A Message from the Editor

Organizations that establish a successful records management program will reap the benefits of cost savings, improved operating efficiencies, and better compliance. With the current economic crisis, now is the time for organizations to commit to good information governance.

The financial crisis on Wall Street has prompted numerous investigations into the lending practices of financial services firms, all with a similar focus: Who knew what, and when did they know it? The message is clear: The tone has to be set at the executive level. The premise is simple: It always comes down to the records.

Yet, only 27% of organizations have a formal marketing/communications program in place to communicate the value of RIM to the organization's employees, according to ARMA International's "2009 Records & Information Management Survey."

The end result of not having an effective and adequate program in place can be detrimental and costly--and can even lead to an organization facing a judge in a court of law. This is why we have included several articles in this month's issue of Information Management to help you address the legal issues of RIM.

In this issue's feature article, John Montana, J.D., explains how the Generally Accepted Recordkeeping Principles[SM] will help organizations manage records in a way that drives clarity and transparency. He analyzes how, in the financial crisis, many organizations' transactions failed the test.

"Defining Your Retention Management Program," by Forrester Research's Brian W. Hill, focuses on how recent regulatory requirements and the revisions of the U.S. Federal Rules of Civil Procedure have shifted the focus of managing and retaining paper assets to electronically stored information. Hill emphasizes that a well-crafted records and retention management policy can keep enterprises out of legal hot water.

John T. Phillips, CRM, CDIA, FAI, addresses how...