In a three-part blog post we are outlining the ways that modern RIM professionals are increasing the value they provide to the organization. In part one of our blost post we discussed how records managers are extending their reach beyond the filing and storage rooms. This allows them to apply their expertise in information architecture, metadata, retention, and classification to contribute where information is created and in active use.
Our second tip for staying relevant is to focus on outcomes that matter to business audiences, and using the right language to describe those outcomes.
Lesson 2: Deliver outcomes that matter to business audiences
As we try to extend our reach earlier in the information lifecycle, RIM professionals will find that their business partners will care mostly about how information can be used or optimized to help them achieve their desired business outcomes.
Through conversations and experience with our clients, we have found that these business outcomes generally fall into one of four categories. When we talk about the value of RIM in terms of these four basic business benefits, we are speaking the language of our business partners and talking about things that matter to them.
In financial services, loans act as large revenue generators. As loans are issued, numerous physical and electronic documents are created. The more efficiently these documents can be created, stored, and accessed, the more loans the company can process, which allows for more revenue.
For more on this, learn how our finance clients are creating additional loan capacity.
Organizations can save a lot of money by re-evaluating and reengineering the practices used to create, store and organize files. The RIM team at one organization was able to do this with the help of by going with an automated, outsourced color coding solution that saved them $250,000 each year.
For more information on this project read our case study How automated color coding saved this financial institution $250K.
Most document-intensive business processes are ripe with possibilities for optimization. By re-engineering processes, digitizing some of the workflows, and improving paper-based filing and storage practices, you can drive some impressive results. One busy licensing department was able to improve efficiency by 1000 percent!
To learn how they did it, read our project spotlight: Retail marijuana licensing at the City & County of Denver
Revisiting and improving an existing process can lead to other important business outcomes, such as minimizing risk. For example, by reviewing and updating its filing policies and structure, Bank United was able to vastly improve its ability to maintain compliance with industry standards and legislative requirements.
For a closer look at how Bank United accomplished this, read our case study BankUnited: a whirlwind file conversion.
These four basic business benefits offer a great frame of reference when planning and evaluating your records management program. How will your programs add value in those areas?
In part three of our post we will share the right skills and tools records managers need in order to be successful.