Project Stories

Global Financial Institution

Migration to a new system simplified by a substantial reduction in records.

Intro

Big Bucket Retention

A big bucket approach to retention has been successfully proven to allow organization to manage their records in a much more effective and efficient capacity. The project success allowed the organization to prepare for their migration to the new enterprise content management system, that would allow for easier classification and protection of records and the disposition of non-records.

Details

50% Reduction in Records Series

Challenge

One of the world’s largest financial institutions had a retention schedule that was too cumbersome, needed streamlining, and were also preparing for migration to a new enterprise content management system.  With over 400 record series, the organization needed a way to narrow down the record series to a manageable size, but still keep the capacity to maintain the existing records with the appropriate retention.

Solution

 Interview all key stakeholders to gain a solid understanding of their records requirements and review the strengths and weaknesses of the current retention schedule.  Revised the retention schedule using a big bucket approach (by reducing the number of record series by more than 50%), propose its adoption by the key stakeholders, and implement in the organization.