Document Management - White Paper (ID 5277).pdf Jul. 2014 | Page 40

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Records Management
Treating Documents As Official Records
Some organizations have special protocols for document handling in order to comply with State or
Federal regulation, conform to industry standards, or adhere to their own internal rules of corporate
governance. In these cases, documents are valued not just as a means to conduct the business of
the present, but also as evidence of activities in the past.
Legally speaking, when documents contain any information regarding internal company processes,
transactions, or decision-making, they reach the status of a “record.”
Record management (RM) is a formalized and comprehensive methodology for handling these
important documents; a discipline that long predates digital systems. Whether for paper or digital files,
records management applies a consistent set of rules to each stage of the life cycle of a record, from
its origination (creation or receipt) to its eventual disposition (transfer or destruction).
Although records management and electronic document management are two separate concepts,
technological automation plays a large role in achieving record management objectives, as electronic
formats are now commonly accepted as legal evidence.
There are many reasons why solutions to RM mandates are increasingly in demand. Organizations
that have maintained RM systems over a long period of time have likely updated their system
in piecemeal fashion as necessary during its existence, and largely because of this, now lack
comprehensive scope or compatibility with newer systems.
Due to significant technological advances and increasing demand for automated RM, there are now
many newcomers in the RM marketplace. While RM has long been a necessity in government, legal,
financial, and medical organizations, recent legislation has also mandated specific organizational
reporting processes and financial transparency protocols. Corporate scandals have also raised
concerns about the conduct of employee actions and the risks of litigation or criminal investigation.
To some extent, all organizations face the risk of lawsuit and the sizable monetary costs that even a
successful defense can impose. A legal defense team would have to prove the validity of past actions,
which is typically accomplished by providing thorough documentation. Even if an outside authority
does not require it, proper record management is the best way to mitigate these risks.

EASY DOCUMENT MANAGEMENT

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