FDIC studies how to manage its records better

FDIC studies how to manage its records better

The Federal Deposit Insurance Corp. is studying how to merge two records management systems.

Rochelle Myles, chief of the Records Management unit of FDIC, today said records management experts and IT officials are analyzing what it will take to connect the systems.

Myles was one of four panelists who discussed records management at a breakfast sponsored by the Bethesda, Md., chapter of the Armed Forces and Communications and Electronics Association.

FDIC has 2.7 million cubic feet of paper records that must be stored or disposed of and the two systems that are being used do not meet all the requirements, Myles said.

FDIC is using TRIM, an automated records management system from Tower Software of Reston, Va., that tracks inactive records, and an application from Documentum Inc. of Pleasanton, Calif., which is used to track records of current FDIC projects.

'We are trying to look at both products and judge their strengths and weaknesses,' she said. 'Without an interface, users have no idea where the documents are stored and cannot search both databases at once.'

FDIC may have to pay a $450 per-seat license fee to Documentum if it consolidates the records on the company's system, Myles said, but the agency is negotiating a lower fee. With TRIM, she said, there would be no additional charge.

Myles said she expects the study to be finished by September, after which the agency will decide whether to issue a request for proposals.

'There was some feeling that we should just go with the TRIM product, but we decided to look at all our options,' she said.

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