Most companies create and keep too many records and, ironically, put the organization at greater risk- the risk of keeping records too long. Any record that is being maintained and managed by a company can be subpoened and used by opposing legal counsel to harm the organisation.  By establishing a practical, appropriate and systematically applied records management and retention policy, most organizations depending on the age of the business, can identify and begin destroying 20% to 30% of their existing records.

  By breaking habit-based practices and applying and maintaining an efficient records management program, which includes a records retention scheduling policy, organizations can realize not only short and long term cost savings, but improvements in work process productivity. Easily implemented records management strategies and practices provide three significant benefits and measurable values to any business or organization:

• Improved access to needed information (documents, files and records). Appropriate indexing standards and applied retention practices are critical when searching for information. Retrieval time can be cut dramatically when improved operating controls are in place. A solid records management program allows for obsolete records to be appropriately identified and destroyed, allowing needed documents, files and records to be accessed quickly.
• Reduced legal and audit risks.  The risk of lost, missing or smoking gun records are eliminated when you standardize indexing and retention practices. When doing things the right way, you keep only the records you truly need to meet operational and regulatory requirements.  A fully cited and applied records retention schedule outlines which records an organization has and which have been identified for destruction and destroyed during the normal course of business policy and operation.

• Reduced records storage volumes and costs.  Standardized indexing practices and applied retention schedules reduce costs in real-estate, labor and capital expense.

Once an efficient records management program is implemented, organizations will be able to respond quickly to legal and audit request and demands.  Equally important, they will be able to avoid the embarrassment and costs of not being able to produce needed documents, files and record series.  When records do not exist (because they no longer have to), these companies can show proof of policy and compliance and state confidently why and how the records had been identify and destroyed.

At Data Storage we have developed an inexpensive procedure for phasing in a strategic records retention policy.  After decades of neglect the sheer volume of records stored and needing review and destruction can make rolling out a retention practice time consuming and expensive.  We propose doing this big job with our Strategic Records Retention service. 

By doing records retention chores in a strategic manner we target the record series most likely to limit your liability and expenses most and focus on completing retention work for that series before moving to the next most productive target and repeating the process. 

To learn more about the steps involved in strategic records retention, check it out at http://www.datastorageinc.com/srrs.asp