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News

Record and information management consultancy formed.

Data Empowerment Group : 06 March, 2008  (Company News)
Compliance management and the management of records and information are the key areas of expertise for new consultancy seeking to reduce client costs associated with non-compliance.
Having spent five years in proof-of-concept and patent development, Data Empowerment Group has formally launched the company to meet the needs of corporations' most complex Records & Information Management (RIM) needs.

RIM is the most technologically-demanding and high-risk - yet least understood - element in a corporation's overall compliance package, which includes SOX as well as the new discovery-related Federal evidentiary rules.

While validating its highly-sophisticated RIM applications, DEG has designed and implemented custom enterprise content management (ECM) systems, as well as field-testing integrated solutions for clients that include large ECM and software companies, investment firms, multi-national banks and others in the financial services industry.

"DEG was created to help those corporations make the right decisions - prior to making costly technology investments," according to industry leader Tom Utiger, the author of Records & Information Management Risk Assessment and the founder and CEO of DEG. "The launch of our company coincides with the increasing complexity of the government's Federal Evidentiary Rules of Discovery that have created a tremendous demand for RIM compliance to avoid large judgments and excessive legal defence costs.

With its popular Record Readiness workshop programs, DEG helps its clients plan and design customised governance policies and procedures that need to be considered before making IT investments.

With recent changes in the government's Federal Evidentiary Rules of Discovery as well as massive judgments, along with multi-million-dollar legal costs for defence of non-compliance - the importance of effective records management that encompasses both traditional paper records and state-of-the-art email, voice mail and text message records has never been stronger.

LexisNexis reports that only 7% of corporate counsellors believe their companies are compliant with new federal rules governing electronically stored information, while Computer World found 32% of IT managers and staffers are not prepared to meet the new Federal discovery requirements - and 42% don't know.
"Our experience," Utiger explained, "suggests that board- and C-level management - who are held responsible by the federal government for RIM compliance programs - have either limited knowledge of what they're up against or faulty information based on rumour, rather than fact.

"For instance, one firm lost a court case worth more than a billion dollars," Utiger explained, "and judgments - along with the costs of defending cases involving non-compliance - routinely run in the tens of millions of dollars. In addition, there are surprising, costly pitfalls facing companies when they move blindly toward compliance. We answer that by presenting focused, hands-on - customised - briefings on the risks of RIM non-compliance, and the best path for their firms to follow to achieve compliance."

In addition to one-off custom installations and popular records management workshops and board-level briefings, Data Empowerment Group has created a series of tools - targeting initially the Fortune 2000 but also easily adaptable to medium-sized businesses - that are essential to effective records management.
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