CASE STUDY:
Records Management Strategy
Energy Company Reduces Risk through the Implementation of a Records Program
Business Challenge
- Petroleum and natural gas exploration and production company with over $5.5B in annual revenue
- Inconsistent classification of information across departments.
- Inconsistent application of appropriate platforms for capturing and storing business records
- Records and IT organizations were not aligned in their understanding and implementation of records controls
Solution
- Conducted surveys, workshops, and requirements sessions with key stakeholders to assess RIM functions
- Identified business needs and gaps
- Developed processes for declaring records and safeguarding information confidentiality
- Clear Maturity Model assessment and plan for improvement by business area
- Formalized policies for information integrity, availability, protection, compliance, transparency, retention and disposition
- Provided a comprehensive roadmap for implementation
Benefits & ROI
- Improved General Counsel’s ability to maintain compliance with legal standards
- Enabled defensible retention and disposition procedures
- Increased efficiency and capacity of the records team by simplifying processes and reducing search times
- Standardized records management processes across all business functions
- Eliminated manual management and tracking tasks
- Reduced exposure to financial and legal risk
