8 Reasons to Focus on Records Management

When employees spend their time searching for missing files, productivity is hurt....

Companies create records every day – sometimes a lot of records, and managing those records is crucial to running a successful business. Yet many people fail to consider all of the ramifications of not properly focusing on records management. As you are considering the records management needs of your organization, here are eight reasons why you should focus on it.

1. Reduce Costs
There is cost involved in keeping records. You have to invest in filing equipment, set aside space in your office for it and pay people to manage the files. By having a workable system in place that is logical for employees to use, you will greatly reduce that cost. Add a solution that takes inactive files offsite and you will reduce that cost even further.

2. Improve Productivity
When employees spend their time searching for missing files or records that are filed in the wrong place, productivity is hurt. When you invest in a quality records management program, you will no longer lose crucial time while your workers are searching through files. The right system will make operating the filing system, and then locating records when needed, fast and efficient.

3. Control Creation of New Records
If you feel like your records are replicating at an unusually high rate, you may need a new storage solution. A well-defined storage solution, including one that offers digital storage options, actually helps cut down on the number of records created, without sacrificing the quality of the information you retain for your company.

4. Maintain Compliance
Part of the reason your business has a records problem may be your desire to remain compliant with the rules and regulations you are subject to. Ours is one of the most heavily regulated countries in the world, and much of that regulation means you have to keep detailed records. A carefully constructed records management program will help you maintain regulatory compliance and avoid the fines and other penalties that come if you are not.

5. Lower Your Risk of a Lawsuit
Carefully maintained records will help minimize your risk if you face a lawsuit at a later time. Having records that prove that you did or did not do a particular action will reduce your liability. Also, because records management incorporates routine and safe disposal of documents, you won’t be held liable for mishandling someone’s private information.

6. Integrate New Technology
If you start now with a new records management program, new technology that comes along in the industry later will be easily assimilated. For example, if you take the time to create a paper filing solution now, organizing and sorting those files, you will be in a better position to move to a digital document management system in the future.

7. Protect Private Information
Safe storage of vital information, including customer account information and internal records, is crucial to the success of your business. Your records management program will include plans for dealing with vital, and sensitive, information in a safe manner.

8. Provide a Professional Image
When your customers walk into your business and see boxes of files stashed in every corner, it hurts the overall impression they have of your business. Your staff also faces a negative working environment when your files are disorganized. An organized, streamlined file system creates a professional image, both to your customers and your staff.

With these eight reasons, the need for proper records management for today’s businesses is clear. If you are in need of document management solutions, contact FileSolve, your source for records management help.

Posted by: Denny Hammack
This entry was posted in Electronic Document Management, Records Management and tagged , . Bookmark the permalink.

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