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Records Management Trivia

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Records Management Trivia

  • One study found that in a single year records management saved a university $667,882 in source and filing equipment alone – after subtracting the program’s budget.
    (http://www.theimpros.com/im/case.html)
  • 83% of all business documents consist of forms. Businesses spend $1 billion a year designing and printing forms but $25-35 billion a year filing, storing and retrieving them, and some $65-85 billion processing, maintaining and distributing them.
    (The myth of the paperless office 2002)
  • In trying to resurrect Iraq’s Oil Industry, authorities discovered that seismic charts for 200,000 kilometres were destroyed. Each chart cost approximately $15,000 to create. The value of the records? $3 billion.
    (Newsweek July, 2003)
  • For every sales increase of $100 million that a company experience, it uses 8.8 million more sheets of paper.
    (PriceWaterhouseCoopers, 2000)
  • Federal and New York regulators ordered the U.S. Trust Corporation to pay $10 million in fines to settle accusations that it violated bank secrecy laws and failed to keep complete records in a special trading unit.
  • Utilizing a system of record keeping which conceals rather than discloses, or makes it unduly difficult to identify or locate them is the functional equivalent of destroying records.
    (Sears vs. Kozlowski)