Friday, September 26, 2008

Electronic Discovery, Governance, Risk Management and Compliance - Relationship Study

Governance, risk management and compliance (GRC), records and information management(RIM) and electronic discovery (E-Discovery) are three of the information management compliance (IMC) topics most written about, talked about, and blogged today. It appears that these three overlapping disciplines are driving significant organizational change, policy and procedure development and technology investment. But, what do these concepts really mean? More importantly, how do these concepts affect you and your business?

Kahn Consulting, Inc., in association with ARMA International, BNA Digital Discovery and E-Evidence, Business Trends Quarterly, and the Society of Corporate Compliance & Ethics, created and distributed a survey to over 400 organizations in fall 2008.

This groundbreaking survey was the first to take an integrated view of these three critical disciplines. The purpose of the survey was to gain an industry perspective on:
- Maturity of programs in each area
- Major challenges that organizations face in each area
- Industry views on the relationship between the three areas

Key Survey Findings
The great majority of companies are active in the three areas. Around 90% of the respondents indicated that their companies were addressing GRC, RIM and electronic discovery issues. Nearly 70% had or expected to make major changes in those areas within eighteen months.

Most companies are addressing policy areas first. Most firms working on e-discovery or GRC are making policy related changes, such as developing legal hold policies or engaging in a source mapping exercise. Externally focused activities, such as purchases of e-discovery tools or matter management software, are reported less frequently.

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