Records Reducer

Reduce your total storage costs by defensibly destroying legacy records.

CHALLENGES AND STEPS TO TAKE

• Find out how much and what type of information you have
• Determine who needs the information and what it’s used for
• Learn where your documents are stored. Are they in house or with a third party? Are they physical or digital?
• Create a document retention policy that is fully researched both in terms of your industry and geography. You should also consider the financial penalties and consequences of non-compliance. This step should be based on legal advice. Include a review process for your retention policy
• Index and archive your records
• Arrange for secure destruction

IRON MOUNTAIN ADVANTAGES

• Classify and destroy archived records you no longer need & easily reconcile your historical records to your retention schedule
• Ensure your inventory is properly indexed and managed
• Streamline your process
• Identify records for destruction

CUSTOMER STORY – GERMAN INSURANCE COMPANY

• One of Germany’s leading insurance groups, this company has operated an electronic document and workflow management systems for many years, there was an extensive legacy archive of paper documents connected to claims. There were five storage locations across Germany and a need for standardized workflows.
• The Iron Mountain team catalogued files and barcoded existing and new boxes. We also developed a retrieval system allowing employees to order a file by email. In Germany the standard retention period is ten years, but vital records have longer or even indefinite life spans. This company’s records were stored according to their retrieval requirements. When files reach their designated retention, they are flagged in reports and then securely destroyed if no longer required.
• Iron Mountain holds nearly 85,000 boxes containing over 2 million catalogued files in a centralized inventory. With support, this leading German company believes it can demonstrate compliance with national and international statutory and regulatory requirements such as Sarbannes-Oxley and Basel II/Basel III. This was reinforced by audits of the Iron Mountain facilities, conducted by data protection officers from the company’s head office to verify the application of processes and procedures.