In house records management, a cost-effective initiative to centralize and organize document storage
A Records Management System helps organizations to secure their vital information from Pilferage, Theft or Misuse. Organizations needs for best practices for records management, as the number of laws and the severity of punishments have increased and will continue to increase, hence it’s imperative and prudent for organizations to follow the best practices for proper records management.
The Records Management is adopted and operative in 2 models
- Off-Site Storage – The Organizational records are handed over to Records Management Company (RMC) and stored at their Records Centers. These services are available in major cities across India.
- On-Site Storage – The Organizational records are kept in In-House by the Organization and managed thru Records Management Software, by a team deputed either by Organization or Outsourced.
India is rapidly progressing towards a Manufacturing Hub, with various Govt of India initiatives. The foreign Multi-National Companies along with Indian Multi-Nationals are expanding their business activities at a rapid pace. Currently, large business organizations operate out of multi-location, with their various key activities being operating out of hubs majorly situated in upcountry due to various Govt Initiatives and Incentives, where the Records Management Services by the RMCs are not available. Even though in many cases the Records Collected by these RMCs are stored at centres, which are very far and retrieval of these records during various requirements take a long time for delivery. Additionally the collection and delivery of Records add up the huge cost for maintenance of organizational records. As these organizations have plenty of space available at their locations, setting up of an In-House Records Room infrastructure is the best solution to address this pain area. The Organizations can plan for the creation of the Records Centre at each Location and having it managed thru internal or outsourced team. A Records Management Software needs to be implemented for the creation of Inventory of Records, Managing Pickup, Storage, Retrieval, Refiling and Life Cycle Management in their centralized Records Centre. This will hugely help organizations to reduce the operational cost while ensuring the records are secure and safe at all the time. There is a moving trend today to adopt such solutions which ensure total control over Organizational records with effective Monitoring. This ensures that the organization is fully compliant with the global best practices for Records Management. Let me elaborate key In-House Records Management MUST DO practices and explain how this System helps an organization to lay a solid foundation for it success.
The Key Organizational MUST DO Practice:
- Retention: A retention period for Records is imperative for effective Control, Management and Optimization the records management storage. An effective life cycle management of records and periodical identification and destruction of old records will ensure all the risks are covered with regard to Organizations information. This also helps in optimizing the cost of management of Records. It’s important because of it:
- Preserves active records for future reference.
- Helps in taking a prompt decision.
- Provides written legal evidence in the court.
- Enhances the efficiency of the office as essential records are available at any time.
- Policies and procedures: An organization’s record management program must be supported by some policies and procedures that address each component in accordance with operational and legal requirements. Integrated policies and procedures throughout the organization will ensure linearity in operations and management of the Records Management Program. These policies and procedures must ensure best practices for proper records management.
- Access and indexing: Organizations need the ability to access the records by multiple indexing parameters such as subject matter, date, etc. The success of any records management program lies on the ability to access information for business support, litigation response, or compliance reasons.
- Compliance, Accountability and Audit: The important components of compliance are organization-wide accountability and auditing. The benefits of the major investment in an enterprise will be short-lived if employees are not in compliance with the program and its policies. The Compliance Guidelines adherence ensures unhindered Operations. Also, it establishes ownership and accountability of the records and its management functions. The main program components that should be periodically audited are:
- Destruction timeliness.
- Retention schedule accuracy with the latest laws and regulations.
- Classification accuracy and completeness.
- Business unit compliance.
- Hold administration.
- Program training.
- Archive the critical information for business continuity and disaster recovery.
- Provide information on time and in an efficient manner.
- Use technology to Manage, Audit, Review and Improve the system periodically.