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Frequently Asked Questions

Q: What does the commercial information management industry do?

A: The commercial information management industry assists other companies and organization in managing their information assets. As companies generate information there needs to be a conscious system in place to manage information as long as it is required by law, required for litigation protection, required for audit or for other business purposes. This systematic process is called records and information management. The commercial information management industry provides low-cost, long-term storage of hard copy information, tape and digital media storage and rotation services, film and digital imaging services, e-vaulting and digital archiving, and confidential destruction services. By outsourcing some aspects of their information management program, organizations can lower costs and improve efficiencies in managing their information.

Q: How large is the commercial information management industry?

A: There is no clear answer to this question due to the varieties of companies that participate in certain aspects of the industry. Best estimates place the number of active records management companies in the United States at around 2,000. Anecdotal evidence combined with industry history indicate that the United States is the most mature market in the world with an approximate market penetration of 40-50%. Estimates place the European market penetration at slightly above 10%. With the exception of Australia and New Zealand, market penetration in Asia is lower than in Europe. Central and South America are also lower, as is Africa.

Q: Does the commercial information management industry only deal with paper records?

A: No. Offsite media vaulting services (computer tape backup services), electronic vaulting, digital archiving, digital imaging and film-based imaging are all services provided to assist clients with the management of electronic information. Studies such as the University of California Berkeley’s “How Much Information” identify digital information growth as exponential. More investment in digital information management is currently underway.

Q: Is information that is stored offsite secure?

A: Yes. While security systems will vary from facility to facility, security systems may include any combination of the following: exterior fencing, enhanced lighting systems, exterior cameras, exterior keypad entry, exterior biometric entry, mantraps, vehicle traps, motion sensors, offsite central monitoring with law enforcement dispatch, identity verification, visitor badge procedures, escorted visitor procedures, and interior keypad and biometric entry systems.

Q: Are there industry standards?

A: Yes. While PRISM International is not a standards promulgating organization, there are both standards and common industry practices for the industry. Most of the standards that impact the commercial information management industry involve building codes and fire codes. These standards are issued by various codes writing bodies depending upon the country where the facility is located. While it is not a standard, PRISM International does issue a number of guidelines on facility evaluation, media vaulting, shelving and racking and a standard storage and service agreement to our members. In addition, there are a number of records and information management standards promulgated by ARMA International, AIIM International and other standards bodies. ISO 15489 is the most recent addition, which deals with records system design.

Q: Is the industry growing?

A: Yes. Based upon our own membership recruitment statistics, we can observe a steady growth in the industry. Other industry studies have indicated an organic growth of records materials in excess of 10 percent per year.

Q: Is the industry mainly populated by large corporations or small businesses?

A: More than 95 percent of PRISM International members are small business owners and operators. (We define this term as those businesses whose gross sales are US$3 million or less per year.) There are only a few publicly traded companies engaged in the commercial information management industry – among them are Iron Mountain which trades on the New York Stock Exchange and Recall Corporation which trades on the Australian Stock Exchange.

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