1. How can a records / information management program help to reduce operating costs?

The many government record keeping requirements require administrative dollars for electronic data storage, filing equipment, space in offices, and staffing to maintain an organized filing system (or to search for lost records when there is no organized system).  A records / information program can assist in reducing the number of records retained by performing routine records purging.  Purging records includes timely transfer of records to off-site storage, destroying records with expired retention times (both on-site and off-site) and the control of copies and duplicates. Usually, in an office 30-50% of the paper files can be stored off-site freeing valuable office space.  The efficient control of duplicate copies of records can reduce electronic storage needs and the associated administrative costs.

2. How can you increase your efficiency and productivity?

Experts estimate that 90% of a company’s records are created electronically and a high percentage of those are printed to paper or duplicated.  An effective records management program addresses both creation control and records retention, thus stabilizing the growth of records in all formats. The hours spent in locating files or determining which of the many copies is the most current is non-productive. A well designed and operated filing system (both electronic and paper) with an effective index and tracking can facilitate retrieval and deliver information to users quickly. An efficient and compliant records / information management program can increase office efficiency and productivity and help ensure that managers and executives have the information they need when they need it.

3. How can you ensure compliance with all government regulatory record retention requirements?

In terms of record keeping requirements, the United States is the most heavily regulated country in the world. These laws can create major compliance problems for organizations since they can be difficult to locate, interpret and apply. An organization wide records retention policy, procedures and retention schedule with legal citation support is the main way to be reasonably sure that full compliance with laws and regulations is met. Failure to comply with laws and regulations could result in severe fines, penalties or other legal consequences.

4. How can you minimize litigation risks?

Business organizations that implement records management programs can reduce the risks associated with litigation and potential penalties.  A consistently applied records management program provides for legal holds to ensure needed records are retained; can reduce the liabilities associated with document disposal by providing for their systematic, routine disposal in the normal course of business; and benefits by being able to reduce discovery costs.

5. What records or information can you afford to loose?

Every organization, public or private, needs a comprehensive program for protecting its vital records and information from catastrophe or disaster.  Experts say it is not if a company will have a disaster but when. Operated as part of the overall records management program, vital records programs preserve the integrity and confidentiality of the most important records and safeguards vital information assets.