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Case Study: Financial Services Company

Records Management Compliance Team Takes Control of Its Inventory (and Says Goodbye to Tedious Spreadsheets)



Client: Large Financial Services Company


Business Case: As is common, the records management team at this major mutual fund company was relying on massive spreadsheets and an Access database to maintain and cross-reference an inventory and data map for their compliance program. It was a time-consuming practice.


Key Challenge: This team’s very mature compliance practice meant they were already maintaining a variety of information pertaining to the security and privacy attributes of their records. They needed a tool that could accommodate all of these data points.


Implementation: Based on their requirements, they selected iGMapware from a variety of commercial software products. iGMapware met nearly all of their requirements out of the box.


This seasoned records management team was able to deploy iGMapware with minimal assistance. Rather than relying on business users from each department to inventory holdings, the records team populated the database themselves. This service was greatly appreciated by their internal customers, who only needed to validate the inventory.


Outcomes: The biggest win for this client was the audit trail built into iGMapware, a feature they didn’t have in Excel or Access. It’s critical for this company to be able to automatically track every change to their inventory, retention schedule and data map views. They’re subject to SEC and FINRA audits, which require this level of accountability.


This client continues to extend the use of iGMapware to meet the evolving compliance demands of the financial industry. In addition, they’ve offered useful suggestions for enhancing iGMapware. Many of their suggestions have been incorporated into recent versions of the software.


It’s tough to get an information governance program started. iGMapware has helped over 100 customers get started by inventorying their information assets.