Records Management

Records Management

Records management is a vital and necessary process to ensure the survival and success of any business.

What is Records Management?

Records management refers to the administrating, identifying, categorizing, archiving, and destroying of business records, whether in paper or electronic form. Records management also includes any other managerial duties that have to do with the conception, use, preservation, and disposition of records.

What does Records Management Entail?

There are a number of activities and duties involved in the process of records management:

- Classifying and archiving all documents throughout their lifecycle.

- Establishing an archival process to house documents both short and long-term.

- The implementation and enforcement of records management and retention policies.

- Destroying and disposing of records according to retention policies and regulations.

Why is Records Management Important?

When companies (or more specifically, employees) do not adhere to records management and document retention policies, obvious risks to the business arise; efforts to protect invaluable intellectual property become very difficult and expensive. Countless work hours are wasted as employees try to find and track the correct or most recent version of a document they need.

Companies must also preserve and destroy company records in a way that is aligned with federal compliance regulations and statutes.

Risk Management Software

Risk management software makes it easy and convenient for employees and records managers to follow and enforce document retention policies. Users can easily see where documents are stored, who has accessed them, made changes, and where the most current version is being stored.

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_(By Grace Lennington).