Arcil

Problem:

• Huge monthly administrative cost.
• Space crunch.
• No systematic process for RIM.

Solution:

Iron Mountain’s Records and Information Management Solution.

Value:

• Able to save monthly administrative cost by 40%.
• Improved efficiency, and better control on business-critical records.
• Prompt Response from Operations, and adherence of committed TAT.

About the customer

Asset Reconstruction Company (India) Limited (ARCIL) is India's first and largest asset reconstruction company, to commence business of resolution of Non-Performing Assets (NPAs) upon acquisition from Indian banks and financial institutions. It is sponsored by prominent banks and financial institutions namely State Bank of India (SBI), IDBI Bank Limited (IDBI), ICICI Bank Limited (ICICI) and Punjab National Bank (PNB). ARCIL has acquired more thanRs. 70,000 crore worth of NPAs from the Indian banking system.

The solution

ARCIL belongs to an industry which uses physical records extensively. In initial two years of business, ARCIL understood the necessity of having an organized way of storing records. Realizing the need of getting ever-growing physical record under control, ARCIL got associated with one of the Records Management player in the market.

In this association, after doing a Cost Benefit Analysis ARCIL realized that at one end they were incurring very high cost and on the other hand, the expected service levels and transparency in the day to day operations was not maintained.

At this juncture the ARCIL leadership team made a crucial decision of exploring alternate vendor who has years of expertise in physical and secure storage of records with comprehensive compliant solutions.

“Arcil is able to save 40% of the monthly administrative cost and has also gained total access to their account by using IM Connect the web tool provided by Iron Mountain.”

“A dedicated Account manager assists in taking right and timely decisions on offsite storage of records.”

-Sanjiv Vishwakarma
Manager,
DMS ARCIL

The value

The internal evaluation team of ARCIL initiated the screening of different vendors for providing records management services based on various parameters. On completion of this assessment they chose Iron Mountain as we had a competitive edge amongst the other players from the industry.

Iron Mountain has assigned a dedicated relationship manager for ARCIL and over the span of 4 years of services, Iron Mountain has received positive feedback from ARCIL on the timely reverts, total transparency in the operational transactions and on-time retrievals.

Additionally, the Iron Mountain Connect™ tool has established greater transparency for managing records off sites. This system provides more visibility, easy access to the inventory and ensures consistency of the records management procedures.