Records and Document Management Systems, RDMS, were long regarded as ‘nice to have’ technology, and very much available only to the largest corporations. Now, with the sophistication of I.T. networks, Cloud computing, and vastly lowered cost of ownership, organisations of every size can tap into this resource.
Today, it’s clear that regulatory compliance is topping the list as to why RDMS is a ‘must have’, what with GDPR, MiFID II, and others coming into force in 2018
In an industry which creates new acronyms as badges of honour, the software-publishers have sown confusion, so you will find this software variously called, ‘EDM’ Electronic Document Management, ‘ECM’ Enterprise Content Management’, and other terms too, which all amount to the same approach: digitised data which is processed, controlled and distributed according to organisational rules.
The key drivers used to be a desire for automation, disaster recovery, and improved record keeping. Today, it’s clear that regulatory compliance is topping the list as to why RDMS is a ‘must have’, what with GDPR, MiFID II, and others coming into force in 2018. Compliance is now mission critical: after all, who can afford fines of £20 million for a privacy breach, or prison for an indefensible charge of corporate manslaughter?