“ TBS Ramps up Information Management Services”
( Hamilton, Bermuda, September 15 th , 2006) – TBS Bermuda has partnered with US based software consultancy firm Image Architects to address the need by Bermuda based organizations for professional assistance in the management of business critical information.
TBS, an IBM Business Partner and part of the Igility Group of companies offers end-to-end focus on the capture, organization, and retrieval of business critical information and content to provide a quantum leap in corporate operating efficiency, asset security and compliance.
Image Architects has over 70 installations around the world using their scanning and retrieval systems. They have systems ranging from South America, Asia, Europe and the US. For five years IA has worked with TBS in Bermuda and the US. Based on a solid track record TBS and IA are strengthening their partnership in Bermuda.
Danny Dunlop, Managing Director, TBS, says: “Although this is the age of electronic communications and data, many organizations still utilize paper documents as their primary information source. Unfortunately traditional records management disciplines that have been applied to paper documents are not necessarily being applied to the back-up electronic documents, thereby creating a significant information access exposure if the paper file is either lost or destroyed. Electronic documents are generally not maintained in the same order as the working paper file, and consequently they are not a realistic back-up information source to the paper file.”
Anthony Mocklow, who has recently joined TBS as Business Development Executive sums up the main information issues facing today’s document-driven companies:
“Information and the management of information have typically been scattered throughout organizations. Industry research has established that organizations spend 5-15% of their revenue on handling documents, so even a relatively small improvement in the efficiency in document information management can result in a significant improvement to bottom line profits.”
Peter Nirenberg, founder of Image Architects says that “All too often the primary source of a company’s critical business information is also its sole source of information. We’ve seen many times that the difference between success and failure is being able to prove you have a particular document. It might not be the most important one at the time but years later it can be worth millions of dollars. Our systems are designed to scan, store and retrieve each document with the care it deserves. “
TBS provides organizations with the structure and tools they need to get an original document (or digital equivalent), so they will know exactly where to look for it and, more importantly, it will be there – each and every time. Unless corporate management practices are applied to all company information, organizations place themselves in a vulnerable position in terms of business accountability. TBS strongly supports the argument that it takes a combination of technology, people and processes to implement information management that is of real value to an organization.
TBS will consult with organizations and customize the toolkit to provide the best solution to the customers needs. Their team will examine current practices within a company such as the existing system or systems for traditional paper and electronic record keeping, including ownership and management responsibilities; dependencies upon external and internal document sources; management methodologies for personal and corporate (both company-wide and by division) documents; storage and retrieval, control and archival processes, including retention and disposal processes; and access arrangements, including security integrity, authenticity, and privacy issues. Based on a company’s existing procedures, TBS will make recommendations for the best solution for that company.
Organizations that don’t pay attention to electronic document management will most likely be costing themselves significant wasted time searching for a document or using an incorrect version of a document; costly storage wasted on unnecessary duplication of documents; law suits which cannot be adequately defended because vital, original information stored in electronic documents cannot be retrieved; loss of business due to inability to provide information; lack of consistent corporate view due to unavailability of electronic documents throughout an organization; loss of client confidence; and failure to comply with legislative requirements for electronic records.
With Information Management, tailored to the way each individual company conducts their business, we can dramatically improve access to documents, records and evidence and we can do it more quickly and be more efficient than ever before.
