Records Management: What is it, Process & Best Practices

Records and document management are necessary for a business’s daily operations. It is a big
part of keeping your business organized and easy to run. But businesses often overlook
records management.

Managing records can help your business organize its most important documents, keep them
safe, track and monitor them, audit and review them, and dispose of them safely when they
are no longer needed.

In this blog, we will discuss what managing a record is its process, and best practices as well.
Let’s get started.

What is Records Management?

Records management is the process of keeping track of project records and storing them
correctly. It’s a system that organizes, plans, and keeps track of project records so people can
access them and use them in the future. Records are lists of details that are important to the
project and must be kept track of to manage the project.
When you think about record management, you need to decide what kind of information
should be kept and how it should be kept. You’ll need to know how to handle and gather the
records and how long they should be kept and stored. Disposal or protection records also
have to do with outside events.

Process of Records Management

The record management process is the lifecycle of a record, from its creation to destruction or
storage in an archive. Here, we explore the steps of the record management process:

 Record identification and categorization

Identifying and classifying records requires identifying the important documents and
information that must be managed and categorized based on their type, content, and
importance.

 Keeping and organizing records

This step entails locating a suitable location for storing the records and organizing them to be
easily accessible and retrievable. It could include using physical filing systems, digital
databases, or a combination of the two.

 Records preservation and protection

Records preservation and protection entails ensuring that the records are kept safe and secure
and that they will be usable for as long as they are required. It could involve using protective
storage materials, performing regular backups, and taking other precautions to avoid damage
or loss.

 Obtaining and utilizing records

This step of records management entails granting access to the records to those who require it
and making sure they are accessible and usable when required. Using records may involve
search tools, indexes, and other tools to assist people in finding the information they require.

 Disposal of documents

This step ensures that outdated records are disposed of in accordance with any applicable
laws and regulations. It could include shredding paper records, deleting electronic records, or
other disposal methods.

Best practices of records management

Some records are critical to every business. To work effectively in the future, they should
store them. The following are the best practices for managing records:

 Define your business goals

Each organization should decide what they need to do with its records. It means looking at
the storage systems that are already in place and figuring out how they are used. It helps
figure out what will be needed in the future.

Managing records should have clear steps for making, destroying, and getting rid of records.
The process lets businesses make the correct legal records. It also helps companies to keep
records based on rules for keeping them.

 Identifying and Documenting your Records Systemically

A crucial step in the records management process is finding and organizing records. Most of
the time, the archives determine which records need to be kept. But in general, any record
that can be used to prove something should always be kept. The first complicated step in
managing records is choosing which ones to put in an archive.

 Setting a schedule for keeping your records

A schedule for keeping records will help you avoid the costs and risks of losing them. It
decides how particular long records should be kept. Here is the schedule for different kinds of
records:

1. Personnel

Managing employee records once a year is enough.

2. Financial

Depending on the type of financial record, the schedule can be set for different amounts of
time. For instance, tax and accounting documents usually need more time than personal
documents to meet IRS rules.

3. Legal

How long legal documents need to be kept depends on the document type and the type of
business.

 Reviewing and updating policies for managing records

Making a policy for managing records is not enough. Companies should look over and update
their policies on how to handle records every so often. It ensures that the records can be kept
accurate, easy to find, and private. All records should be stored in an area under the
established records maintenance policy.

 Creating a Records Management Team

A company should develop a dedicated records management team to succeed in this area.
The team should be in charge of keeping track of and storing all records. Also, they should
ensure that the records are kept safe for as long as needed. The team should also be in charge
of getting rid of old records to free up space.

 Making a Simple Workflow for the Team

Organizations should concentrate on creating a records management workflow to maintain

records properly. Include the following factors in the efficient workflow:

1. Getting and storing the data

2. Keeping data in a key location in the company

3. Controlling record access.

Record management will run smoothly with the organized procedure.

 Selecting a safe location

A crucial part of record management is determining where to store an organization’s files.

Find a good location for record management by considering the following factors:

1. Any place with multiple layers of security, like the grounds of an embassy or a bank
vault.

2. A company like a cloud computing service that takes care of your digital files.

The right location prevents unwanted access to company records. Companies that store
sensitive data must choose an appropriate place.

 Tracking and Monitoring Records

Records are constantly being moved in and out of storage facilities. Records are also being
transferred between departments and employees. A monitoring system should ensure that no
files are lost during transmission.
Recording daily organizational operations are important for developing future decisions and
processes. Access to the records is necessary for the company to determine whether it is on
the right track. Tracking and monitoring records will aid organizations in their future success.

Conclusion

By using effective records management systems, businesses and people can ensure that
important information is easy to find and get to when needed. Also, good record management
can help keep important information from being lost or damaged and help organizations
follow the laws and rules that apply.

Record management is a key part of good business and personal organization. It can help to
improve efficiency and reduce risk. So, without delay, create one for your business to stand
out. Contact QuestionPro if you need any help.

QuestionPro is a survey software and data management platform with excellent features to
utilize. With InsightHub, you can better manage and use your data. We also have data-
management tools, such as our InsightsHub research library.