Why enterprise document management should be part of any digital transformation strategy

Article by Hyland AVP for APJ Eugene Chng.

Modern organizations create and rely on a huge volume of content, and digital records make up a significant portion of that content. Managing information lifecycles is no longer something that can be done manually.

Instead, modern organizations must rely on automated and intelligent records management processes to create a smooth and reliable system that is operationally efficient, secure, and compliant. This will ensure – for starters – that records and associated content are easily accessible and can be audited effectively.

However, governance around record keeping has become more than a matter of convenience and easy retrieval – it is now tied to data sovereignty and international retention laws and as such is often tied administrative formalities and binding legal obligations.

Compliance with regulations such as the GDPR in Europe and the Personal Data Protection Act (PDPA) of Singapore requires that data is kept secure, with access limited to authorized personnel. It must often also have an end-of-life policy, depending on the specific rules of the region or those decided by the industry regulator or council.

Information Governance Policies

Modern content services platforms consolidate and regularly update all information governance policies with simple descriptions of why they are important and how an organization may need to execute them.

This increases document retention efficiency, using an end-to-end solution to address both relevant policy aggregation and document retention schedule management and enforcement. The goal of an organization integrating such a solution is to remain compliant with a minimum of manual work.

Reduce risk with document destruction

An important part of secure records management is knowing and controlling the lifecycle of a record. As noted, data retention laws must be adhered to, and internal policies on this are often set out to ensure that confidential information is only on organizational files for a certain amount of time. This reduces the risks and the volume of data held by the organization.

The information destroyed by the content services solution is not accessible to anyone, which means that it cannot fall into the wrong hands. Automated document destruction also means less content to search and extract at audit time, making the process faster and less complex.

Three ways an organization can benefit from automating end-of-life procedures are:

  • Having less information stored within the enterprise frees up space by reducing the database footprint, which will have a flow effect on other systems and storage. Reducing the amount of data stored in the enterprise allows for lower cloud or data center costs and faster access to relevant information.
  • Automated end-of-life procedures also reduce the risk of non-compliance and associated penalties. However, relying on manual reminders comes with the risk of human and procedural error, putting the business at risk of forgetting records.
  • Automated records destruction also negates the number of human hours that would otherwise have been spent manually locating and erasing these files, further reducing costs and allowing employees to focus on higher-level tasks. .

Consolidation is key

Without a content services platform, managing content and records across various systems also carries risk and reduces business efficiency. A content services solution solves many of the challenges associated with legacy systems and older databases, systems, and physical storage locations by providing access to any content, anywhere.

Using a content services solution for records management enables complete lifecycle management, from document creation to reporting, and then to final disposition. It also improves consistency and accuracy by automating manual tasks such as creating new records and checking records for completeness.

This then reduces the risk of duplicate records, which again adds to database bloat and reduces the efficiency of data systems and analysis.

Document management is an essential part of digital transformation and must keep pace with business modernization plans. As such, creating and adhering to a comprehensive plan and getting buy-in from across the organization is essential.

This way, the organization can rely on the technology to run unobtrusively in the background, allowing the business to run efficiently and compliantly.