Records and Information Management Month is typically acknowledged in April and was developed to emphasize the importance of records management within organizations. An organization's most vital asset is its information. Whether the data is financial, proprietary, or otherwise sensitive in nature, organizing and maintaining records is necessary in order to effectively manage the mass amounts of data companies are handling every day.
Understanding the role of information technology in this process helps shed light on how managed services providers are working to streamline records and information management for companies regardless of industry or size.
Most companies maintain at least some records in an electronic format. Some organizations deal with vast amounts of data while others might work with fewer clients or a smaller quantity of data. Regardless of the volume of data that an organization handles, every company should place importance on securing and organizing the information.
When a business transaction is conducted, there is an exchange of information. The content which documents this transaction is known as a record. From the time a record is created until the time it is destroyed, it must be maintained, stored, and protected. Effectively overseeing the lifecycle of information is imperative for organizations to avoid unnecessary audits, lost productivity, and significant fines for noncompliance.
So how can technology enhance the records and information management process?
Ensures access and control
Scanning documents into a document management system allows for easy access to information. Quick retrieval times cut down on the amount of time employees need to spend looking for data and helps increase productivity. Data can also be shared and updated remotely, allowing for quicker and smarter business decisions.
Helps enforce compliance
Laws and regulations related to data, such as HIPAA, GDPR, CCPA, and more, are in place to set guidelines around how data is retained, used, and maintained. MSPs can help an organization stay compliant with existing laws and stay current on any new mandates.
Facilitates automated processes
When records are organized and categorized, employees follow processes for retrieving and updating information. This allows for greater automation and less chance for errors when handling data. By implementing IT processes, companies streamline how information moves within an organization and create consistent methods.
Reduces risk and cost
Maintaining unnecessary information creates risk for an organization and can result in additional costs. Disposing of data that is no longer needed or has completed its life cycle within an organization should be done in order to reduce the risk of data leaks. It can also create a financial burden for companies if additional storage space is being used to hold old or unusable records.
Partnering with a managed services provider can help organizations alleviate risks and costs, improve compliance, and ensure consistent data access and processes. AJTC's team of data experts have the experience and skills to guide companies through effective records and information management.