If you have ever been part of an acquisition or divestiture (or both at the same time!), then you know how unsettling this period is for stakeholders. While physical and financial assets are front and center for these transactions, information assets are also critical. Every transaction is unique, but there are some common considerations for the Information Management professional tasked with managing the movement of information. The key will be a project plan. At a minimum, the plan needs to include establishing who owns which documents, evaluating the enterprise information and data maps, current state description of the IM program, establish the desired future state for the IM program, methods for document movement, technology considerations, legal and regulatory requirements, a risk assessment, communication plans, and privacy considerations.
Challenges abound when the time comes for moving documents. Here are a few considerations.
Records Management: During a divesture, you must determine who owns which records and this creates conflict. In the case of a system that had a mediocre Records Management system, there is a lot of "I might need it someday syndrome" and new management is uncertain if they need "it" so there is a struggle to disposition records. Eventually, there needs to be ONE retention schedule that is in line with legal and regulatory requirements for the industry. (Legal helps with this one.)
Privacy: Privacy issues abound when handling documents with PII.
Technology: Couple of issues here
The first challenge is determining who 'owns' the license for each software package.
Software selection: Everyone has an opinion on what software they want to use. Typically, the Steering Committee makes the final decision. While on the surface there may be a desire to do things differently, when implementation of new technology occurs, there may be a lot of resistance. There needs to be support from all functional groups in the organization for the implementation of new technologies to be successful.
Defining how documents will be moved between systems is critical. This includes how the metadata is managed.
This is also a unique time when new ideas may be introduced to improve a previous IM system. Initiatives that were previously introduced but put on the ‘back burner’, may now be an option. Consider how to enhance these elements of your IM program:
Governance: This is the time to set up a solid IG framework. The framework will set the stage for the entire program.
Technology: During the transition, management is typically open to new ideas and creating new 'ways of working'. This is a good time to evaluate new ECM packages and software that may serve as an Information Hub.
Taxonomy: This is an opportunity to revise/recreate the Taxonomy especially if a legacy one was not working.
Metadata: If there is no metadata scheme, create one. Review existing ones especially if a new ECM is being put in place. Also, you may want to add metadata fields so as to preserve legacy information.
People: A change management approach is needed on the people front. Stakeholders are experiencing employment concerns during the transition, but there is also excitement that elements of the legacy 'ways of working' could change for the better.
The key to success is communication and collaboration with both the decision makers and the system users.
IM Visibility is here to help with all your Information Management needs providing visibility to your organization’s greatest asset…. INFORMATION.
If you simply need someone to consult with as you develop your project plan and move through the process, then the Information NOW program may be for you. Click here to learn about the Information Now Program!