Bits and pieces of information often get misplaced, especially in an organization that is large and does not have a record management system in place.
Document and Record Management mistakes occur more commonly than you might think.
In this post, we have created a list of some frequently occurring document and record management mistakes that your organization needs to look out for.
Are you making any of these mistakes?
1. Lack of Proper Indexing and Document Organization
Lack of an organized system to curate and store physical documents is a common mistake that many organizations overlook. The efficiency of any business/company depends upon the speed with which the required information can be accessed. Absence of document curation system makes it hard (sometimes even impossible) to find an important record of business or legal importance.
2. In-house Record Management
In-house record management is the least efficient way an organization can rely on for its document and record management. In-house records management is expensive and least secure, exposing the organization to critical information stealing activities & espionage while incurring heavy costs. Even if the documents are digitized, an in-house document management system is always vulnerable to attacks and mishaps that occur inside the premises.
3. No Retention Schedule
Not having a proper retention schedule ultimately results in the mixing up of critical records with the ones that need to be disposed-off! Separating them, believe us, is a cumbersome activity. Your organization must have a record retention schedule in sync with the business regulations and legal guidelines. This will be an important step in determining whether a record is important or needs to be shredded, making handling and logistics a bit easier. Make sure that your records retention schedule is consistent across all the departments to avoid any conflict or backlogs.
4. Not Digitizing the Paper Documents
Not digitizing your physical records can result into a big blunder considering the number of information-stealing attacks, frauds, and espionage operations going on across the globe. Your records must be digitized at the earliest opportunity and secured via an industry-grade encryption. Failing to leave the physical documents as they are leaves an organization vulnerable not just to the malicious intents but also disasters, say fire. A digital record management system will ensure that you have multiple backups of the crucial records that can be recovered anytime.
5. Not Hiring a Professional Record Management Firm!
A professional record management firm is always up to date with the latest industry guidelines and regulatory compliance laws. In the wake of the globalization, as the businesses expand, so does their vulnerability. It comes unsurprising that companies (of any size) are relying more than ever on the services of Record Management Companies to look after their documents and data, secure it, maintain it, and retrieve it whenever required. Record Management Firms use state-of-art secured document storage facilities and keep up with all the necessary operations so that the organizations can function hassle-free!
6. No or Improper Document Shredding
Your trash might be ‘treasure’ for not just the thieves intending to harm your business, but also for your competitors, detectives, paparazzi and fraudsters. In fact, it is the organizational ‘dumps’ that people with malicious intents search for. The only way to escape this fate is to shred the documents properly. If you have been procrastinating to shred these documents, you must rethink about the possible risk of information ‘leakage’ or ‘theft.’ This is one function that Record Management Services take care of regularly.
7. Not Complying with Current Laws & Regulations
It seems like a low probability that a company might run into trouble for not complying with the document preservation and destruction guidelines. But litigation trouble occur quiet often. Failing to preserve confidential records as per the regulations can result in time & money consuming law suits and damage to business brand reputation. Make sure that your organization is thorough when it comes to managing confidential and sensitive records as per the law.
8. Selecting a Self-storage Unit for Off-site Document Storage
Self-storage units might seem like a cost-effective solution but in reality they are less secure. Full service off-site record management facilities are much more secure and precise when it comes to preserving your most important records.
Avoid the above-mentioned mistakes to evade any legal, business or operational pitfall for your organization. Good luck!