Results recently released by a combined Forrester/ARMA survey demonstrate that "increasing regulatory requirements and onerous eDiscovery burdens are forcing enterprises to design strategies to mitigate legal risk. Effective records and retention management programs play a big role in these strategies." Records Management: User Expectations, Market Trends, And Obstacles (Forrester/ARMA 2009) ("Survey"). The Survey reports on the increasing role of records managment to help mitigate legal risks associated with the continued explosion of the volume and types of electroncially stored information created and stored by organizations each day. The Survey is 11 pages and worth a view to check in on the current state of records management. ARMA members can download a copy of the report here.
Because we focus on legal holds, the Survey reported that legal holds continue to present a technology hurdle for over half of the organizations surveyed:
Limited support for integrated legal hold capability poses significant legal risk. Integrating legal hold capabilities with records management plays an important role in mitigating legal risk. Nearly 48% of records management stakeholders report that their records management solution supports legal hold natively or via a packaged third-party integration. The counterpoint to this figure represents significant potential legal exposure. More than half of records management decision-makers report that their application doesn’t support legal hold, that they don’t know if it does, or that it does but that these capabilities aren’t currently being used.
Survey, p. 6. Forrester conducted the survey online with responses from 434 technology and strategy decision-makers with responsibility for records management during June and July 2009. Approximately 95% of respondents were located in North America. Approximately 32% of the survey participants were employed by enterprises with more than 5,000 employees.
To read more about the Survey, see the press release here.