Document Control Services After Merger & Acquisitions

After a successful merger or acquisition comes the reassessment of your existing business strategies and processes. As your venture expands so too must your records and information management processes.

The surge of paperwork and archived records is overwhelming. Here are several steps you can take to effectively manage your physical records and digital assets.

What to Do With Information Assets During Mergers and Acquisitions? .

Perform an Inventory of Existing Records in Storage

A merger or acquisition requires reviewing the other businesses’ processes and document archiving policy. You need to:

  • identify records that must be retained to comply with your legal obligations.
  • What document management software is in use to access records and will it integrate with your existing system
  • What is the existing process for the disposal of records?
  • How are paper-based records treated compared to digital records?

When going through your records, it’s important to organise them into different categories. Utilising a highly searchable document management system will make it easy to access documents when necessary.

Creating a professional records management system will help merge the two companies into one seamless entity.

Devise a New Document Management Strategy

A document management system must be tailored to each business. After a merger your institution will have grown larger, it’s therefore important to review your current document control strategy.

As you recreate your information management system, keep in mind:

  • Make your document control process flexible and dynamic to change with your company.
  • Be clear on task delegations in relation to record keeping.
  • Train staff on your filing categories, and the new retention schedule.

It is best to work with a document control service that has the experience to guarantee your strategy is effective.

Train Staff on New Document Control Policies

The creation of a new records system will fail without proper training of your team. Your team will handle your important files, and lack of training can lead to sensitive documents being lost or destroyed.

It’s vital to teach the document management process to your staff so they understand how to handle incoming and outgoing documents.

Dispose of Outdated Documents

When a merger or acquisition with another business occurs an excess of new records will be created. Document management companies can manage the entire process for you. Avoid the stress of finding a new home for endless records in your existing filing cabinets.

Consult a professional to determine which records require destruction and which require archiving. Be mindful of how you get rid of old records to avoid legal or security issues.

Choose Compu-Stor as Your Document Management Partner

Merging the physical and digital records of two businesses can be a daunting task. You don’t have to do it on your own. Talk to our information management specialists and discover a more affordable and better way to manage your document control services.

Contact Compu-Stor today to organise an obligation-free meeting into best practices and the latest advances in digital transformation.