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Send  Share  RSS  Twitter  13 Jul 2010

INFOTECH: Woolworths Meets Requirements With Datacentrix

 



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CAPE TOWN - Datacentrix has assisted authorised financial services provider, Woolworths Financial Services (WFS), in putting together a comprehensive records management framework by defining and embedding relevant processes and procedures. This is in line with WFS’s move from a retail organisation with a credit arm to a fully-fledged financial services company and the associated enhanced compliance requirements.

Around eighteen months ago, Absa Group purchased a 50 percent plus one share interest in WFS, with Woolworths (Pty) Ltd, the retailer, remaining as the other shareholder. Having the controlling stake held by a bank, WFS is now subject to more extensive regulatory and governance requirements.

As identified by the WFS IT Executive, a crucial aspect of the now necessary compliance that needed to be addressed - in terms of legislation as well as an ABSA audit - was records management.

Paul Spagnoletti, senior account manager at Datacentrix explains:
“Financial services organisations are required to have a rigorous and well defined records management policy in place and to implement and embed the activities needed to conform to these policies. Based on these needs, Datacentrix’ Cape Town-based Enterprise Content Management (ECM) division was contracted by WFS to investigate the organisation’s existing records management practices and recommend processes and procedures in order to achieve compliance to these enhanced governance standards.”

WFS specifically required reliable and secure records management practices to be standardised and implemented across the organisation and for policies and procedures to be accessible via the company’s intranet. The initial focus was on defining and improving physical records management, including
the creation, receipt, storage, retention and security of paper records, with the intention to potentially introduce technology automation in a subsequent phase.

According to Alistair Purvis, Information Security Officer at WFS, the project introduced a new way of working for WFS staff and therefore required the transition to a new culture of record keeping. “This meant that it was critical for Datacentrix to define processes that are sustainable and workable to ensure adoption throughout the business.”

“The project, delivered by Datacentrix over five weeks, allowed us to meet all of our objectives as well as all of the records management internal audit items, and is considered a resounding success for both WFS and
Datacentrix,” he adds.

Datacentrix’ ECM division provides consulting services, thought leadership and technology solutions to corporate and government organisations alike, currently employing more than 30 ECM specialists in the Western Cape and a similar number of consultants in the Gauteng region, with a further complement in Kwa-Zulu Natal. Datacentrix focuses its efforts and resource structures around best-of breed ECM products including Open Text ECM, Microsoft SharePoint, K2.Net BPM and Mimecast UEM.


 
 
 
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