A week after getting dinged for lowering its financial outlook, Iron Mountain has stepped up and hired Tasos Tsolakis, the former chief information officer for Affiliated Computer Services (ACS), as its new CIO. Iron Mountain obviously has a huge legacy business storing people’s paper documents, which, with the continued increasing adoption of all sorts of electronic content management technology, is probably a dying market – albeit fairly slowly. However, over the past several years, I’ve been fairly impressed with the high-tech savvy and vision of the at least the people I talk with at Iron Mountain. Now, I know it’s a huge company, and I’m only getting the biggest imaging advocates, because that’s the business I’m in, but you have to like the hiring of someone with Tsolakis background.
When you are talking about document storage and management, storing paper documents is probably the lowest rung on the latter in terms of complexity and margins you can demand. What ACS (which was acquired by Xerox last year) does, outsourcing business processes for their customers, is way up the latter and that’s clearly where Iron Mountain – and everybody else managing paper (Xerox, for example) would like to go.