RIM is an acronym for Records and Information Management.
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ARMA International defines Records Management as 'The systematic control of records throughout their life cycle.'
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A record can be many different things. Records in general are organization assets documenting the evidence of business activity and transactions. They come in many different forms such as:
- Paper documentation
- Electronic documentation
- Electronic communication
- Website content
- Database information
All records hold value as well as risk for the organization. They hold value because a company or organization generally cannot conduct business without the information contained in its records. However, they also contain risk as all business records may be identified as discoverable and used against the corporation in potential lawsuits.
Records Management is crucial to modern organizations as data must be:
available to maximize profit
organized to control costs
managed effectively to mitigate risk.
The best balance requires creating and implementing an effective RIM program, educating all employees in organizational policies and best practices, and staying abreast of newly enacted regulations to refine and maintain an effective RIM program.
