Every industry sector has different reasons for taking the trouble to implement  a records management system. Australian SharePoint systems integrator OBS has identified the top five benefits a records management system can bring to the resources sector. 

1. Facilitating legal and compliance requirements 

With increasing compliance issues in the resource sector it is vital that businesses keep up with all the relevant requirements. Companies must meet strict corporate governance standards in areas such as record-keeping, health and safety, and environment. A data management system that ensures information is managed to international records management compliance standards and also facilitates eDiscovery (the provision of electronic information and records is essential). Having an easy-to-use data management system can also increase user adoption levels, which in turn increases the likelihood of remaining compliant. 

2. Improving business decisions 

With accurate and accessible data businesses can make more informed business decisions easily and quickly. 

Codice, a document and record management consultancy, works with a number of leading mining companies and has seen the benefits of well-organised records. 

Kylie Crofts, Manager at Codice said: “We recently worked with a very well-known resources client looking to reopen a mine. Implementing SharePoint with RecordPoint through OBS Will ensure all relevant information is available to inform the feasibility studies currently underway.” 

3. Supporting future business needs and growth 

Any system implemented should be scalable and flexible enough to support business growth. SharePoint with RecordPoint can be rolled out quickly and easily scaled to future needs. SharePoint with RecordPoint is accessible via mobile devices, meaning employees can access data whether they are in the office or out in the field. 

As SharePoint with RecordPoint is a hosted system, resource companies get all the support they need including service level agreements. With flexible models to suit any size enterprise, resource companies can have the peace of mind that the system will grow with them and their needs. 

4. Increasing productivity 

Having a single solution and single point of truth allows users to search across multiple systems in an efficient manner, saving valuable time and resource. One centralised system also facilitates better collaboration across diverse areas of a business that might otherwise rarely interact. 

Many traditional systems can require lengthy training sessions that focus on records management methodology such as BCS or disposal. New users who are familiar with SharePoint can be trained with a few simple tip-sheets. This intuitive format reduces the amount of training required to implement the system and for on-boarding, increasing the time available to spend on more business-critical activities. 

With companies increasingly using external contractors, having a widely-recognised and used system in place will also reduce time spent training consultants. 

5. Ensuring business continuity 

Not having the correct data to hand can be catastrophic for the resources sector. Auditors require access to specific information. Not being able to provide it can mean delaying projects or ceasing to trade entirely. Many mining companies focus their data on the operational side of the business and ‘execution’ systems. But many of the compliance and data requirements are focussed on the more administrative side of the business. A data management system helps manage records across the entire business and avoids data silos and lost data. 

Having easily-accessible and accurate records can also be a benefit when tendering for business, ensuring a smooth process from tender to implementation. 

Resources companies that implement smart document and records management software will be more efficient than their competitors, as well as finding it easier and faster to comply with various industry and auditing requirements. 2014 is likely to see increased competition in the resources sector, making it more important than ever that these organisations do what it takes to ensure accurate and comprehensive records management.