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Responding to a more stringent climate of corporate governance and regulatory scrutiny, FileNet Corp., a provider of enterprise content management (ECM) solutions, has introduced FileNet Records Manager, a new records management suite designed to offer comprehensive lifecycle management of records from creation to disposition.

FileNet's Records Manager will be based on a single, integrated, highly scalable repository featuring the ability to create and manage file plans, retention schedules and security. It also offers reporting and auditing tools to enable organizations to meet any number of regulatory reporting requirements.

The Costa Mesa, Calif.-based company says the new release is designed as a tightly integrated solution within the FileNet P8 architecture, allowing companies to leverage content and process management capabilities across their enterprises to enable a more comprehensive and value-driven approach to managing records.

The new solution is designed to help organizations meet newly introduced or updated government and industry regulations, as well as the explosive growth in the volume of electronic records resulting from the widespread use of electronic content, including the Internet and email. The FileNet Records Manager suite is designed to address specific needs around issues of complying with reporting provisions of the Sarbanes-Oxley Act and to meet the U.S. Department of Defense's 5015.2 records management standards requirement, as well as the U.K.'s National Archives 2002 revised functional requirements.

Chris McLaughlin, FileNet's global director of financial services marketing, said in an interview that the company has four major markets: financial services, insurance, manufacturing and government.

"Compliance is a moving target," he adds. "We're approaching it from the standpoint of building a framework around key commonalities in compliance--we want companies to be agile and nimble in the future. If a large amount of the company spending is around 10-Q [quarterly reports], then we need to look for the simplest way to address that from a technology standpoint, and to make a strategic investment in compliance architecture."

McLaughlin adds that "records management allows for potential destruction of old data. We're enabling top-down transparency from a compliance standpoint ... There is some resignation about having to do this. The really forward-looking organizations want to leverage this as a competitive advantage, but not all [companies] have recognized all the issues."

FileNet Records Manager is scheduled for widespread availability during the second quarter of 2004.

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Title Annotation:technology Tools; FileNet Records Manager introduced
Publication:Financial Executive
Geographic Code:1USA
Date:Jan 1, 2004
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Next Article:Data management.

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