Benefits of Records Management
Part of the Records Management For Dummies Cheat Sheet
Properly managing your records can help you reduce operating expense, enhance customer service and ensure your company is in compliance with laws and regulation.
Reduce operating expense. Properly managing your records and information means that you only retain for a specific timeframe what you need for operational, legal, and compliance purposes and then appropriately dispose of it. This approach can eliminate the need to buy additional paper filing equipment and electronic storage. It can also reduce the cost of off-site record storage.
Enhance customer service. A good records management strategy ensures that you don’t retain unneeded information. This reduces the amount of clutter you have to search through. Being able to quickly locate the right information allows you to better serve your customers.
Legal and compliance. Implementing an effective records management program will allow you to identify records that are needed for legal and compliance purposes and ensure they are assigned the appropriate retention periods. This benefits organizations in the event of lawsuits, audits, and governmental inquiries.