The Benefits of Establishing a Records Retention Program for Your Business
It is important for your company’s critical records to be securely managed and preserved. Many organizations are remiss in establishing the lifecycle of their paperwork. When you establish your plan, the program relies on your people to execute it by moving the information in and out of the program including Records Storage and Shredding.
A retention policy promotes usability of content while at the same time, mitigates risks of over-retaining content which can be costly. You should not only identify what records are important enough to be retained, but it should also indicate the level of confidentiality and privacy for each category. Retention policies are written based upon a combination of corporate policy, business risk tolerance, legal advice, industry best practices, contractual obligations, and regulatory requirements that help define the lifecycle of content.
Your policy should include Record Storage and Shredding to help protect you from legal exposure caused by mishandling content. With a clear plan for retention timelines, you can easily manage and purge your material on a timely basis. Controls need to be in place for proper management of the entire content lifecycle to happen.
- Establish which documents should be kept and how long
- Compliance with regulatory, industry, privacy, and other laws and requirements
- Enforced consistency of the plan
- Information tracking for efficient search of content
- Use of a Professional Records Storage Company to minimize cost of real estate and labor for management of the documents
- Reduced time and effort to reconstruct mission-critical information in the event of disaster, theft, or other loss
As organizations continue their transformation to greater reliance on digital storage, Records Management becomes even more critical in protecting your organization’s key business assets.