RIM and ECM have different but complementary scopes, perspectives, goals, and orientations. While RIM focuses on reducing risk through governance and controls, ECM prioritizes operational efficiency. By coordinating their initiatives, organizations can optimize business processes, avoid unnecessary storage costs, ensure compliance, and facilitate legal discovery. Bringing stakeholders together to develop an enterprise-wide plan that leverages both RIM and ECM capabilities can help organizations reap benefits while managing risks.
1. It Takes Two To Tango The Synergy of RIM & ECM Gordon E.J. Hoke, CRM Gordon E.J. Hoke, CRM M
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7. Records and Information Management – RIM Records: “ . . . information created, received, and maintained as evidence by an organization or person, in pursuance of legal obligations or in the transaction of business” – ISO 15489-1 Information and Documentation – Records Management Records and Records Life Cycle Creation Production Storage/disposal Use/Modification Conversion
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21. For failing to preserve internal e-mail communications, five major financial services firms paid $1.65 million each Wall Street & Technology, February 2003
22. Bank of America Securities paid $10 million on record-keeping & access requirements violation claims Chicago Sun-Times, March 2004
23. Morgan Stanley recently suffered an adverse $1.45 billion court judgment…MS had acted in “bad faith” in failing to turn over relevant e-mails. COMPUTERWORLD , July 2005