What’s your biggest pain point when it comes to records management?
Are you worried about the security surrounding your storage solution? Maybe it’s frustrating when you are in a hurry and cannot find a record. Or it could be the effort that goes into preserving paper items due to age and wear and tear.
It doesn’t matter if it’s legal documents or employee information. You shouldn’t be left asking your staff what your records management solution is. It should be effective and secure so that the risk of theft, damage or worse does not keep you up at night.
What is Records Management?
Your organisation needs a set of processes, policies, controls and tools that operate as one to manage records throughout their life cycle. It must include steps on how to identify, track, store and destroy documents.
Four critical components make up effective records management: classification, indexing, storage and disposal.
| Component | Description |
| Classification | How do you determine if records need to be kept and for how long? |
| Indexing | The process of creating a system for organising and locating documents. |
| Storage | How records are kept safe and secure. |
| Disposal | The steps to take to destroy documents that are no longer needed. |
6 Common Records Management Pain Points
For many companies, record management is a challenging and complex journey. It raises questions about creation receipt maintenance, life cycle and who is responsible for the storage disposition of records.
It’s normal to encounter multiple pain points. If you can overcome them using these solutions, you can produce value for your organisation.
1. Insecure Document Storage
The penalties for a privacy breach in Australia have recently changed. An organisation can get fined up to $50 million or 30% of adjusted turnover for data misuse or breaches. Recent high-profile incidents have caused companies to reassess how they store physical and electronic records.
Some of the most common solutions to resolving this pain point include determining who is responsible for capturing and disposing of records and implementing creation receipt maintenance. With more businesses operating remotely, new steps must be taken to provide access to remote employees.
2. Difficulty Locating Records
How many times have you struggled to find a document that you need? Alternatively, how long does it take to locate the information you need to do your role? One of the biggest pain points for companies is retrieving records when required. Without a records management system, it will only get worse as you collect more data.
An effective solution allows records to be classified, categorised and stored so they can be found with a simple search. It does require a lot of administrative work upfront. But it will pay dividends in the long term.
3. Managing Access Requirements
Establishing access control for physical records can be challenging unless they’re kept in a secure location. A lack of identity management is also a common reason for compliance issues and data leaks.
Implementing a records management solution can determine who has access to specific documents that are relevant to their role. It’s also able to record transactions for individuals that make changes to the information or send it internally or externally.
4. Document Retention Processes
There are laws and regulations around how long you need to retain specific records. Once that time has lapsed, it is also your responsibility to dispose of them appropriately. You could delegate this task to an employee who can set a reminder. But there are better options available.
When records are classified and categorised, it can also include an option to add an expiry date. The responsibility is removed from your employees so they can focus on high-value tasks.
5. Compliance Audits and Regulatory Changes
Much like the recent changes to privacy breaches, there are alterations to industry regulations and laws surrounding data and record management. It requires your business to stay on top of the latest changes.
It’s one of the reasons many organisations outsource their records management. These companies are experts in the field and keep informed of any developments that can impact compliance. The software is also updated with the appropriate systems and controls.
6. Wear and Tear of Physical Records
Storing documents in boxes has never been an effective solution. Physical record requires preservation methods to avoid wear and tear. Ink and paper can fade if not maintained correctly, making the information useless.
Digital scanning not only preserves documents. It can also instantly upload it to your records management system. It saves time and money in trying to maintain the records. The solution also assists business continuity plans. If floods or fires impact your main office, your information remains safe.
The Benefits of a Records Storage Solution
Nothing is more important than keeping track of your records. Whether it’s customer data, financial information, or employee files, it is critical to success. Implementing a records storage solution offers several advantages, including:
- Improved Organisation: A records storage solution makes files easy to find. It saves you time and money when you need to retrieve a specific document.
- Enhanced Security: When your records are stored off-site, they’re less likely to be damaged or stolen. This can give you peace of mind knowing that your critical business information is safe and sound.
- Cost Savings: Storing your records off-site can save you money on office space, equipment costs and software subscriptions.
How to Take Control of Your Records Management
No matter what documents you manage, you’re bound to encounter pain points. It can be in how you secure records or stay up to date with the latest regulations. Even locating the files you need to do your job can be frustrating. Implementing a records management system can help resolve many of these problems while preserving them for as long as you need them.
Do you want expert advice and help with digitising and accessing important documents more efficiently and effectively? Compu-Stor is an Australian-owned family business specialising in information and records management solutions and services. From document, media & data storage to digital scanning, business process automation and consulting services, Compu-Stor provides a wide range of solutions using the latest technologies and methodologies to deliver secure & efficient services.
Through its Digital Transformation Solutions, Compu-Stor helps maximise the accessibility and flow of information within organisations. With offices across Australia, Compu-Stor works with its customers to provide cost-effective and secure solutions tailored to their needs.
Contact us today for a free initial exchange to see how we can help you: 1300 559 778
For more information, visit our website at https://www.compu-stor.com.au/.
