What are the advantages of records management?

What is a records management system?

A record management system — also known as electronic records management — is software that efficiently and systematically manages records throughout its lifecycle, from creation to distribution to disposition. 

Organizations are flooded by a large amount of information from various sources and in multiple formats, such as paper files, emails, digital documents, photos, audio recordings and videos. The records management team is responsible for identifying information to be retained as records, which can quickly become overwhelming if there is no record management system in place to manage the growing volume of records.

What to consider in an electronic records management solution?

As organizations increasingly leverage digital solutions to improve processes, it is important to consider how the solution matches your unique needs and whether it can expand to accommodate changing requirements as the organization evolves. Here’s a list of questions you can ask to evaluate whether you need to implement a new records management system or if your current system needs to be upgraded:

• Are your employees spending too much time waiting for files to reach them or looking for documents in poorly organized databases?
• Have records ever been prematurely disposed or destroyed without proper authorization?
• Are paper records and filing cabinets taking up too much space in the office?
• Are your employees demotivated because of the amount of paperwork and cramped working conditions?
• Is there a clear policy in place that defines what information should be recorded and how these records are organized and retained?
• How is the security and privacy of records managed? Can any employee access the records regardless of the level of classification?
• Are paper documents safely stored in an environment that preserves the condition of the files for the retention or archival duration?
• Are you entirely familiar with the capabilities and limitations of your existing records management system?
• How does your current records management system protect information in the event of disasters and how easy is the recovery process?
• Has the organization been fined or failed an audit because of non-compliant records management?

Your answer to the above questions can help you understand what’s lacking from your records management process and what to look for when researching software and functions that you need. 

Advantages of an automated records management system

Opting for an automated records management system can help transform your records management process. Hyland streamlines information management with capabilities like document storage and archiving, physical records management and record retention. The key advantages of the OnBase records management system include:

• Enabling complete management of records from creation to declaration to disposition
• Managing physical and digital records from a single platform
• Automating tasks like declarations, approvals, holds, retention and disposal to improve consistency and precision
• Ensuring records are disposed according to schedule or after receiving the required authorization
• Maintaining instant accessibility and proof of integrity
• Assisting in compliance with government rules and regulations and your organization’s records retention requirements
• Saving on storage space and processing expenses through automatic destruction of records
• Minimizing manual work so employees can spend more time on useful business activities
• Generating certificates of destruction for chain of custody