What are the Steps to Create an Effective Record Management Keeping?
15

Apr 2020

Records are essential components of every organisation. Business transactions and processes result in reports, contracts, and document files. Invoices, presentations, receipts, memos, and letters are all too familiar in a business environment. Without a doubt, records are a huge part of the corporate life preserving these records one of the building blocks for a see-through and credible organisations.

A robust records management program is critical in keeping your company’s files organised, accessible, and protected. Correctly managing your records includes following the life of the data from the moment they are created to the point of disposition.

Eight Steps of Effective Record-Keeping

Every company has different records-management need. Here are the steps to create an effective record-keeping. They are –

  1. You need to determine the type of records you need to have. As every firm has different needs, they need a different kind of record-keeping.
  2. Take inventory to see what records you are keeping. An active record management programs begin with an audit of every piece of paper and electronic file in your organisation. You must know what records you currently maintain before developing your record-management policy.
  3. Create a document retaining schedule based on legal guidelines and business needs. The basis of a records-management program is the retention agenda. You need to list every type of paper you generate along with its life span.
  4. Figure out the best way to accumulate each type of record. In this day and age of technical options, there are a variety of forms of permanently storing documents. Choose your storage solutions based on these deliberations like space, flexibility, cost, and safety.
  5. Create a location for record storage. Just as there are numerous media for records storage, there are many locations for loading records: in work areas, a records department, a centralised internal location, or in an external place.
  6. Develop suitable security to protect records from damage, unauthorised access, or loss. There is no getting away from the safety and integrity in records management. This is another area often controlled by law.
  7. Develop a process for archiving lethargic records. Records management should be a repetitive part of your business operations. Records should be frequently evaluated for transfer to archive and long-term storage solutions.
  8. Create a strategy and procedure for destroying expired records. Few records need to be kept permanently. They can be terminated after a predefined period.

A complete records-management procedure should be a priority in any organisation. Any old method will not do. It’s time to get your records under control and experience the advantage of proper records management.

Creating a records management database from nick can take some time and commitment to get right, but repeatedly managing your records shouldn’t be a deadly task. An over-complicated program can lead to abandonment and cutting corners which are a recipe for disaster in a long-term.

We at JAXA are one of the DMCC approved auditors in the United Arab Emirates who deliver accounting and auditing services to its clients. If you need to ask any query, feel free to contact us today. We’d be glad to assist you.