A cost-benefit analysis of document management strategies used at a financial institution in Zimbabwe: A case study

South African Journal of Information Management

Field Value
Title A cost-benefit analysis of document management strategies used at a financial institution in Zimbabwe: A case study
Creator David, Rodreck Ngulube, Patrick Dube, Adock
Subject Records Management Cost benefit analysis; Document management strategies; Records management; Commercial bank
Description Background: Choosing a cost-effective document management approach has become a priority to many organisations, especially in view of the rapidly changing technological environment in which information is being created and managed. A literature survey indicated that document management strategies have the potential to provide some substantial cost-saving benefits if they are used judiciously.Objectives: This study investigated a commercial bank’s document management approaches in a bid to ascertain the costs and benefits of each strategy and related issues.Method: A quantitative research approach was employed through a case study which was used to gather data from a sampled population in the bank.Results: The document management approaches used were not coordinated to improve operational efficiency. There were regulations governing documents management. The skills and competences of staff on both document management and cost analysis are limited. That is partly due to limited training opportunities availed to them. That means that economies are not achieved in the management of records. That has a negative impact on the overall efficiency, effectiveness and legal compliance of the banking institution.Conclusion: The financial institutions should create regulations enabling periodical cost-benefit analysis of document management regimes used by the bank at least at quarterly intervals as recommended by the National Archives of Australia. A hybrid approach in managing records is recommended for adoption by the financial institution. There should be on-the-job staff training complimented by attendance at relevant workshops and seminars to improve the staff’s understanding of both the cost-benefit analysis concept and document management.
Publisher AOSIS
Contributor None
Date 2013-07-16
Type info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion — Case study
Format text/html application/octet-stream text/xml application/pdf
Identifier 10.4102/sajim.v15i2.540
Source SA Journal of Information Management; Vol 15, No 2 (2013); 10 pages 1560-683X 2078-1865
Language eng
Relation https://sajim.co.za/index.php/sajim/article/view/540/640 https://sajim.co.za/index.php/sajim/article/view/540/641 https://sajim.co.za/index.php/sajim/article/view/540/642 https://sajim.co.za/index.php/sajim/article/view/540/639
Coverage — Commercial Bank Of Zimbabwe —
Rights Copyright (c) 2013 Rodreck David, Patrick Ngulube, Adock Dube https://creativecommons.org/licenses/by/4.0