Records Management – Who needs it?

Many business owners view records management programs as costly or unnecessary because it’s not their area of focus. But businesses shouldn’t let records management fall to the wayside.

The following are just some benefits businesses receive from having a records management program in place:

• Records management can save your business money – For businesses without a formal records management policy in place, records-related costs are often expensive and go unnoticed. Think about the number of file folders and cabinets and the office space used to house your information. Do you even need all of this information? By reducing the volume that you’re storing, you can reduce expenses. When files are organized, labor costs decrease as staff isn’t spending countless hours retrieving, locating or re-creating files. Finally, a records management program can help you comply with state and federal regulations saving you from potential fines and legal action.
  

• You’ll be protected during an audit or court case – Audits or lawsuits can happen at any time. If something like this happened to your business, could you provide the necessary information? Remember, federal law says that during an audit, all records on hand can be reviewed, regardless if they are past their life-cycle. In addition, some judges are now finding companies at fault that aren’t able to provide information needed during a court case.
  

• Your customers will appreciate you even more – No one likes doing business with a company that can’t find its information quickly, that doesn’t have accurate or thorough information or that isn’t making sure sensitive information is handled properly. Having a records management program in place is something to tout and your customers will see this as another value-added service.

• Sensitive information will stay that way – If you don’t know what is being stored in a back file room, there’s a good chance that information could be lost or stolen and you’d never know. The same goes for electronic files on computers that aren’t password protected. Companies with records management policies make sure their information is not only being stored properly, but is also secure.

When organization, compliance and security are a business’s priority, everyone wins! Be sure to visit www.ssbrm.com to learn more about records management solutions.