How can we realistically calculate ROI when implementing an electronic records management application/system?
MR: There is currently no true rule of thumb, as there are many “un-measurable” variables as well as risks in not having a proper records management program and polices in place. That said, there are also multiple areas in which ROI can be calculated, such as physical or electronic storage cost controls, and potential ediscovery expenses considering extra-time used by legal and paralegal teams searching and analyzing records (or non-managed records) Q: How much RM should cost (2 or 3% of total revenue)? MR: There truly is no way to provide a general guideline. Your budget will depend on the nature, size, vertical, infrastructure, and other factors in place in your specific organization. In some cases, it can be also important to estimate the potential cost of not pursuing records management may mean to your organization. Q: Any suggestions for a government agency in which no one in Records, Legal, or IT wants to take responsibility for electronic data? MR: It has to start from the top;
