Records management is a key driver of operational efficiency and offers significant business benefits. Implementing an effective records management program creates more value from a company's information assets while mitigating the risks associated with litigation, audit, and disaster.
- Reduce Costs: records management reduces the costs assoicated with information maintenance, which could include storage space, personnel, and in-house records management procedures
- Reduce Volume: by storing records offsite, setting retention policies, and performing timely destruction of expired records, records management critically reduces non-essential data and frees employees to better manage necessary information
- Improve Use of Staff Time: by organizing business records so they can be retrieved quickly and easily, records management reduces the time staff spend looking for information.
- In-House vs. Offsite Records Storage: a cost analysis of offsite records storage versus storage in premium office space shows a significant savings of up to 50%. Records Management programs give businesses the freedom to re-allocate in-house storage space for better use to generate revenue for their business
Managing Risk & Liability
- Ensure regulatory compliance: records management mitigates potential loss due to lawsuit by ensuring a company complies with federal regulations, statues, policies and procedures regarding information management
- Avert loss: records management averts loss in consumer confidence or legal reparations for breaches in information security
- Ensure continuity: by maintaining secure, offsite storage, backups and indexed records of your business, records management ensures business continuity in case of natural disasters, computer crashes, and other environmental / internal security breaches