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Record Management Automation and it's impact on performance

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Record in record management is any form of document that is created by you or received by you or your organization. These records help you to conduct your business appropriately.  Moreover, the record can be of any format, whether it is paper-based or fully electronic. Sometimes even large videos can be considered records.

Keep in mind that the value of your records is not dependent on the format type but on the content it holds.

There are four criteria that the item must meet in order to be considered as a record. They are,

The record must be authentic and be an accurate representation of what it was meant to be created for. Moreover, the source of the form has to be trusted to ensure a strong sense of reality in the content. The item must then be checked to see if it has been altered or tampered with. Otherwise, it can not be considered a record. And finally, the item can be used to be a source of information throughout its lifecycle.

Once any item matches all these criteria, it can be considered a record in record management.

Unlike the traditional records program, modern-day records management involves a lot of key components to work effectively. That being said, they also come with a significantly bigger impact on the company.

Here are the key components that modern-day records management will have.

A record policy involves the definition of record categories, the records to be kept within the category, and their retention periods. This schedule sometimes can also contain sample record types.

The policy also clarifies all the objectives, scopes, and guidelines for the records management program.

Once you have the policy in place, you would need to have a strategy on how to execute it properly. This strategy will combine both the policy and the technology in hand to make the whole process more effective.

Once the strategy is in place, it is time for the organization to check how the employees are reacting to the new change and tools. This component includes,

The organization needs to set up a process that helps classify, dispose and manage the records through an automated process.

The final component of records management is organization development. Managing records is a massive task that can not be singlehandedly done by one department alone.

You need to make an organization committee for the management that should include,

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What are the benefits of records management?

If you can set up a good record management system, it will offer you numerous benefits from the get-go. Due to the sheer number of benefits, more and more organizations are adopting Records management as a part of their operating system. From enhanced workflows to improved efficiency, records management has it all.

Below is the list of the top benefits of a records management system.

Reduction of storage cost

One of the biggest disadvantages of physical records is the massive amount of storage it requires. But you may think that all of the records are vital for the business and hold essential data to ensure a smooth running of the company.

But in practical life, that is more often not the case. According to the United Nations Archives and records management section, only 5 to 10 per cent of the records provide any significant value for the business.

Now think about how many reports, emails, and files a large-scale organization may have every day. And from all that massive number of records, only a handful is needed to be kept.

And this is exactly where reports management comes into play.

Once an effective records management system is set up, it can offer the organization a chance to only keep hold of the records that are necessary. You can also set up a schedule for how long you want to keep your hands on certain documents. For instance, if you need a legal file only till the end of a specific year, there is no need to carry the storage burden on the following year also.

For the papers, you need to have physical records off; you can keep them in any offshore storage solution. On the other hand, for the documents that need regular checking and use, you can scan and use their digital version on your record management system.

Easy record retrieval

The information on the records you have only offers you benefits if you can have them retrieved right when you need them. And Records information management or RIM enables you to quickly index and organize your records.

This makes the records easily accessible for anyone who needs them and makes the document retrieval process much more straightforward. You can also set up a system where you give specific permission to a specific employee, so they can only access the records they have the clearance for. This allows you to enhance your organizational security and elevates productivity to the next level.

Reducing any litigation risk

By implementing an effective records management system, you can significantly lower the risk of any potential penalties or litigation.  Moreover, if you have a thoughtfully designed record management program in place, it will also help you minimize any litigation that is related to document disposal.

Workflow automation

One of the biggest problems with modern-day companies is that they tend to calculate how much time is spent on the storage and searching for records. Most documents are usually stored on-site and are placed very chaotically. As a result, when someone has to locate any specific information, it can take a massive amount of time. This time could be better spent on valuable tasks by the employee.

Moreover, once the retrieval process is complete, the person must go through a refilling process, as the records were very disorganized in the first place.

However, when we deal with a fully optimized record management system, all the data is usually stored in a centralized position. The records are also categorized based on various factors, making it very easy to retrieve them. This automation enables you to accelerate the workflow and help employees cut down on retrieval time.

Empowering business continuity

One of the biggest benefits of using RIM is that it can make sure all the vital asset of your company is presented in a centralized repository. When it comes to modern-day business, information is one of its most significant assets. And nothing can hurt a company more than losing vital information from their system.

Disasters never come knocking at the door. And you never know when a disaster can hit your business and fully compromise all the physically held records forever. Losing such valuable data can make it highly difficult, not impossible, for companies to start over. This is where record management comes into play.

A strategically designed record management policy can protect all the vital data in case of an accident. Moreover, having an electronic record means that you can have both on-site and off-site backups (Sometimes in the cloud) to ensure the continuity of your business.

Morale boost

There are more benefits to record management than we can measure with pen and paper. For instance, we all know that poorly documented records and a chaotic filing system can create a suboptimal work environment. This work environment can significantly damage the morale of all the employees and result in them losing all the motivation to take on new work.

As mentioned before, it is pretty difficult to measure such impact through pen and paper. That being said, we can say without a shred of doubt that it harms morale and productivity by a significant amount. This problem can easily be solved by implementing a records management system.

Offering everyone the confidence of knowing they can have any records they want in hand in a matter of seconds will boost everyone’s feeling toward taking on new challenges in the workplace.

Best practices in records management

In order to get the most out of your records management system, you need to follow the best practices. Here are some of the best practices that we recommend to ensure the best possible outcome.

Defining your business goal

Without having a clear goal in place, it is hard to properly utilize records management. So make sure to have a good framework of goals and needs in place to effectively use records management for the creation, archive, and disposal of records.

Categorization and indexing

It is vital for the organization to know exactly how and where all the information is located. That is why you should properly categorize the records and index them for future use.

Record security

Sixty-eight records are either getting lost or being stolen each second as you read through today’s article. Preventing unauthorized access and protecting the document from fraud or disaster should be one of your biggest priorities.

Employee training

You can not have an effective outcome of your records management system if your employees do not know how to be in line with the records management policy.

Having a records maintenance schedule

To minimize the risk of losing records, you need to have a record maintenance schedule in place. This will determine how long any specific records will be kept and when should they be reviewed or disposed of.


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Why use automated records management system?

In order to tackle the information flood, hiring new employees is never going to be the ultimate solution. As more and more records are being created every single day, it is vital for any organization to use an automated records management system.

Automation takes the hassle out of your hand and offers you unimaginable benefits that you will never have otherwise.

Here are some of the reasons why you should use automated records management system.

1.       Can be easily changed with changing compliance frameworks

2.       The ability to implement flexible file plans

3.       Superior scalability in terms of future research and development activities.

4.       Reduced risk of data loss.

5.       Improved protection of business records.

6.       Reliable performance evaluation.

7.       Protection against natural disasters.

8.       Reduction of the massive time spent tracking various paper trails

9.       Making all the records more easily available on the centralized network.

10.   The ability to manage all digital records from a single unified platform.

11.   Maintaining proof of integrity.

12.   Generating certificates of destruction.

FAQ

What are records management skills?

As a records manager, you need to have some key skills in order to excel. Some of the top skills you must possess are,

  • Analytical skills.
  • Administrative skills.
  • Organizational skills.
  • Problem-solving skills
  • Patience.
  • Communication skills.

What are the two types of records?

Records can come in many shapes and forms. But the main two types of records are physical records and digital records.

What are the steps of record management?

The main steps of record management are,

  • Creation
  • Modification
  • Maintenance
  • Disposal
  • Archiving.

Final thoughts

That ends our today’s discussion on How automation of records management can impact the performance of your company. In order to tackle the information flood, records management is the only solution that organizations should follow.

And with so many benefits records management brings to the table, the implementation of an effective system within your business is a no-brainer.


Nanonets online OCR & OCR API have many interesting use cases that could optimize your business performance, save costs and boost growth. Find out how Nanonets’ use cases can apply to your product.


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