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How Outsourcing Document Management Can Reduce Costs
Posted by Sheelagh (sheelagh) on Jan 28 2010
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How Outsourcing Document Management Can Reduce Costs

Incorporating an effective records management solution is a tricky business, which is a task best left to the experts in the information management field. Successfully outsourcing this process is vital to a company’s future. In essence it must be viewed as an investment that drives the company forward, allowing an organisation to concentrate on its core business.

The purpose of a records management solution is for a business to gain control over its key asset – information. This in turn forms part of the business continuity strategy. A company that integrates a records management solution can benefit from increased security for critical information, cost savings and easy access to shared information. It also frees up valuable office space and eliminates the hassle of managing a complicated filing system.

Euro Insurances, a company that provides insurance services across 18 European countries, is an example of an organisation that decided to outsource its document management to Filestores, part of the business services company DMG Group. Document management had not been a core competency for Euro Insurances and so the company received a poor return on the amount of time spent on this activity. Also as part of its business continuity strategy, the company needed to store its critical legal and contractual documentation in a safe and secure off-site location to aid its disaster recovery plans.

Once the decision was made to outsource, Euro Insurances received substantial cost savings in terms of management time and response times. The service gave it full visibility of its documentation, both historical and current. Thus ensuring it could meet its auditing and regulatory compliance obligations. In addition, the company’s staff focused on their specialist roles, with further commercial benefits for the company. What began as a range of services for one department is now being evaluated for deployment throughout the company. Euro Insurances made substantial cost savings and improved operational efficiency by contracting out its file storage, scanning and shredding needs.

“The Risk & Compliance Department staff spends 25% less time every week managing paper since the outsourcing services were engaged, enabling them to focus on more productive work” estimates Clelia Rossi, Risk and Compliance Manager, Euro Insurances.

Given their complexity, document management projects can be very challenging and difficult to manage. Through an effective outsourced partnership, organisations can focus solely on its own business and not the business of records management.

Darren Walsh is General Manager for Filestores and Scan Image Services, part of the business services company DMG Group. See www.filestores.com for further information

-ends-

For further information contact:

Sheelagh Carroll

Head of Marketing

DMG Group

Phone: 01 438 0251

Email: scarroll@dmggroup.ie

About DMG Group

DMG Group is an indigenous Irish company and the parent company of the brands Filestores, Shred-it, Scan Image Services and Archives Consulting Services, enabling the group to provide a single service solution in the area of information management.

Other brands within the group include Need More Space, Two Men & A Truck and DMG Business Centres, which operate in the moving and storage sector.

DMG Group customer base extends to over 4,000 clients within the state and semi-state sectors as well as legal, banking, insurance, medical and technology sectors. DMG Group currently employs 217 people and has its head office located in Park West, Dublin 12. The company also has offices in Craigavon, Cork and Kilkenny. See www.dmggroup.ie for more information.

Last changed: Jan 28 2010 at 12:08 PM

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How Outsourcing Document Management Can Reduce Costs