Extract from IPRO’s article “What is Records Management? | Best Practices for Records Management and Retention”
Introduction
You might think it’s easier to manage records now that we have the technology to streamline and simplify information storage—but records management is more challenging than it’s ever been. That’s because organizations are generating data faster than they can sort through and new applications like instant messaging and collaboration tools are giving rise to new formats and types of data. On top of that, the laws and regulations establishing various recordkeeping requirements are constantly changing.
Records management is important not only for operational business and compliance but also because it forms the very foundation of eDiscovery. Businesses across all industries can improve their eDiscovery processes by implementing strong records management practices and policies.
And the key to successful records management programs is the effective application of technology, from archiving software to legal hold automation tools.
In this post, we’ll discuss the basics of records management, including what it is, why it’s important, and what makes it so challenging. Next, we’ll look at five best practices for records management and retention. Finally, we’ll explain how solid records management programs can improve eDiscovery.
What is records management?
Records management (RM) is an organization’s system for creating, storing, and destroying its records, including electronic data. Strong RM requires consideration of a wide range of governance, risk, and compliance issues, in addition to day-to-day practical matters. Organizations often adopt a comprehensive document retention policy that sets out all of their records management processes and procedures.
