What is the necessity of oracle record management(URM)?

URM is another amazing product from Oracle Shipped with oracle UCM product that are formally called Oracle webcenter Content now , at this post i am trying to focus on business needs and what is the necessity for URM

Oracle records management

The best way to understand the business need to the record management in general is to compare it to back-up software any back-up software that an IT department uses. The Back-up software is used to ensure the company can recover its data after a disaster “restore the missing information after disaster”

In contrast  records management software is used to ensure that content which must be kept for specific periods of time is indeed kept for that length of time.  It ensures that correct content is used throughout the organization and perhaps most importantly. It is responsible for ensuring that content is moved, approved for disposition by the correct people and eventually disposed of at the appropriate time.  This ultimately helps the company recover in the event of a legal disaster.

On the surface, keeping everything forever seems like the easy and right scenario for those needs, but there are several significant issues with that approach:

Lowering the cost of storage 

Saving everything forever can create significant storage cost.  It takes money to pay for both physical and electronic storage.  It takes money to pay for handling and management of the content items too.  Each time a box of old invoices is moved, more money and time are invested to maintain its existence.  Every square foot of storage space is purchased or leased, taxed and sometimes heated and cooled.  Likewise, every byte of data is stored, backed up and maintained on a hard drive somewhere.  Overall, there’s a larger than expected “hidden” cost associated with storing every piece of content the company owns regardless of whether the item is printed and stored in a file cabinet or whether it is stored electronically on a network.  As the number of content items increase, the cost of carrying those items increases.  keeping everything forever guarantees that a company’s cost of content will increase perpetually so there is a need for reducing content “disposition”.

Lowering the cost of discovery

We live in a litigious society.  Most companies of any size will at some point find themselves the target of legal action.  As part of the legal action the company will be required to produce documents for the discovery process. Imagine a single discovery request that will reviews 75 million pages of text during the previous three-year period, during the process of e-discovery, company must follow several steps, including

v  Collect

  • Collect content for discovery
  • Log and copy content

v  Prepare

  • Restore backups and data extraction, de duplicate
  • Organize documents by concept, keyword, batch, or other Methodology

v  Review

  • Have lawyers read through content to determine what is relevant to the case

v  Produce

  • Output data to a usable format such as PDF
  • Gather content for transmission to court and opposition

Those steps cost the company efforts, money, and time. so there is a need for “e-discovery mechanism”

Keeping content “keep everything forever”

In fact many companies simply “keep everything forever.” companies don’t have a tool to insure compliance across the organization, keeping everything forever quickly becomes the easiest and most often implemented The challenges of categorizing the content, finding it when needed and disposing of it at the right time simply require too much effort so there is a need for “retention policy”.

Delivering consistent “get the right document”

There may be different versions of the same document.  Imagine a manufacturing company and there may be assembly or installation instructions for a product. Perhaps an incorrect installation will fail to meet a specific government regulation.  In these cases it is critical that only the most recent installation instructions are used. 

Single and Federated Search

“Federation” is a term used to describe the process of providing a single point of contact/entry for searching multiple disparate data sources across applications and repositories throughout the enterprise

Expanding number of software systems holding important content so there is need for “single and federated search”.