Electronic Records Management Guidance
FRCP Readiness and Policy Development
from FMDC
Problem: The scale and scope of regulatory requirement are changing at an increasing pace. New FRCP and other ESI regulations have added more requirements. The focus is on the management of business records for retention, integrity, security and availability. These requirements are placing new pressures on corporations and their IT departments to protect the enterprise by minimizing information risk and to reducing IT costs.
Impact on Your Business: All these requirements are changing the way that businesses must approach the management of their Electronically Stored Information (ESI). Historically, IT has focused on operational continuity and availability of information to the business. Now information must be managed according to operational continuity plus regulatory requirement and litigation impact while still minimizing records management costs. Information must still be managed to the benefit of the enterprise. It just must be managed differently. The challenge is determining the right balance to do so.
Solution: Approach ESI management with the operational, litigation and regulatory requirements in mind. Integrate regulatory sensitive policies and procedures with operational practices that prove the implementation of those policies and procedures.
Benefit: Done properly, companies will better ensure Lower Operational Costs, fast ROI, FRCP Readiness, and Regulatory Compliance across the enterprise.
The service is offered in three phases:
Phase 1: Basic Electronic Records Management Guidance, FRCP Readiness and Policy Development
This service Phase is for companies that want to understand the records management and FRCP requirements of their business and to develop a general plan for electronic records management and retention requirements.
Phase 2: ROI Analysis and Business Case Development for Records Management Solutions (includes Phase I).
The Phase 2 service includes all the activities and deliverables of the Phase 1 service plus the examination of current electronic records practices that would be impacted by the implementation of Records Management Solutions.
This service is for companies that in addition to defining their electronic records approach and general policies also need to prepare the business case and ROI necessary to receive management approval and funding for the project.
Phase 3: Records Management and FRCP Readiness Solution Requirements Development, RFP Development and Vendor Response Evaluation.
The Phase 3 service includes all the activities and deliverables in Phases 1 and 2.
This Phase is for those companies that have decided to proceed with the implementation of a Records Management and FRCP Readiness solution and would like assistance in developing their requirements definition, creating an RFP in accordance with their internal policies and evaluating the vendor responses.