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Published by nuruljumanizatuah, 2019-11-29 04:43:31


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pg 05

pg 07

05 The Editor’s Note

07 Records Management:

Keeping the Organization

16 Records as a Strategic
pg 16 Resources

23 Record Keeping in Business

36 Physical Record VS Electronic

44 Councils Fails on Corruption pg 23
Prevention Records

pg 36

pg 44

Hello everyone,

Firstly, we would like to express our gratitude and praise to God, whom with His willing giving
us the opportunity in completing this group assignment for the subject IMR652: Management of

Business Records and publishing an electronic magazine with the title “Mind Switch”.

Special appreciation goes to our beloved lecturer, Miss Mohsinin Binti Mohsin, for giving us
the instructions and assisting us on how to do this assignment. Without her guidance, we would not

be able to complete this amazing e-magazine. Lastly, sincere thanks to all group member for giving
full cooperation in finishing this e-magazine and for the willing to spend time, money and idea into

this beautiful e-magazine. Thank you very much.



maintenance of a system to deal with
records throughout a company’s lifecycle.
Records Management includes everything
from the creation of a record to its disposal.
Essentially, it comprises anything that is
part of a business transaction. (Mountain,

Some people use the term information
governance (IG) when talking about records
management. IG is the management of
information to support an organization’s
present and future, keeping in mind the
RECORDS regulatory, legal, environmental, and

MANAGEMENT: operational requirements. It includes the
structure, policies, procedures, and
KEEPING THE processes necessary to manage all the
information stored within an organization.
ORGANIZATION’S What Makes Something a Record?

INFORMATION What makes something a record? The
answer is somewhat complicated.
By Nuruljumaniza Binti Tuah The International Organization for
Standardization, ISO is an independent,

non-governmental international
While an organization’s records organization that develops international
management is not a profit centre, handling standards to be implemented globally
records incorrectly can lead to financial throughout its 162 national standards
penalties or litigation. Keeping good records bodies. The ISO 15489-1:2001 defines
helps companies protect institutional records as "information created, received,
memory as well as maintain evidence of and maintained as evidence and
activities, transactions, and decisions. An information by an organization or person,
effective records management system can in pursuance of legal obligations or in the
save money on storage and improve an transaction of business.” ISO 15489 is
organization’s efficiency. Implement a solid divided into two parts: concepts and
records management plan before it’s too principles, and guidelines. Together, the
late. two parts provide an outline for a
comprehensive records management
In this article, you will find everything you program.
need to know about records management,
learn the basis of a good records Essentially, a record is a content that
management program, how to implement documents a business transaction. A record
one, why it should be a part of any usually does not include drafts, duplicates,
organization, and who should be involved or convenience copies of documents. For
in the process. We will also discuss the example, a final response to a proposal is a
records management lifecycle and along the record, but the drafts, comments about the
way, experts weigh in with their advice. drafts, and correspondence about the
proposal might not be. Personnel files are
What Is Records Management? records, as are social media posts and

Records management (RM), also known instant messages. Therefore, records
as records and information management management does not just involve paper
(RIM), is an organizational function documents. According to The Global Trade
responsible for the creation and Association for Information Management

Companies (PRISM), courts consider all of • Reducing physical storage of
the following to be records: doodles on a documents
paper napkin, core samples from oil
exploration, a pipe with a part number on it, Forms management can be an important
and sections of frozen tissue samples. part of records management. For many
organizations, the largest volume of records
A record serves as evidence of an event. consists of printed or electronic forms.
Therefore, you can often take a record into
a court of law to prove authenticity, The Records Management Lifecycle
reliability, integrity, and usability. Records
can provide necessary documentation for an In records management, there is a lifecycle
that corresponds to the stages that a record
audit, court case, or other official uses. A
record can also be anything that includes undergoes. This lifecycle covers everything
from the creation of a record to its disposal.
personally identifiable information (PII). Different policies and procedures exist at
Companies that are in the financial services, each phase.
health, government, or legal sectors must
Think of the records lifecycle as a life span
that begins with creation and ends with
disposal or preservation. Different
programs, software, and educational
materials may use different names for the
phases, but they are basically fixed and
operate concurrently and in continuum.

Creation is the first phase in a record’s
lifecycle. It involves the receipt of a record
and classification of it as a record in an
organization’s records management system.
Ensure that you create records correctly,
which means including the right
be particularly aware of this kind of record. information and using the proper format.

Is Records Management the Same as As people use and modify a record, it
Document Management? (Laserfiche, 2019) continues as a record, and you must
maintain and protect it from several things,
Document management is part of records including unauthorized access and damage.
management since many documents are Those who need records on a regular basis
records. However, not all records are must have easy access to them. Different
documents. Document management organizations follow different policies
concerns more of the day-to-day activities about how long they must keep a record.
involving physical or digital files, like Active records are those that are in current
capturing, storing, modifying, or sharing use and often within close physical
them. Document management has several proximity to the people using them. An
goals: inactive record is one that a company no

longer uses for current business but that
• Organizing existing and future
documents you still must maintain until it reaches the
• Improving workflow end of its retention period. Even if someone
• Allowing quick search and retrieval is not regularly accessing an inactive
record, you must maintain and protect it.
of documents
• Maintaining organization of files to At the end of a record’s lifecycle, the
reduce the number of lost and records management team must decide
misfiled documents whether to destroy or preserve the record.

Within records management, systems exist

to determine what effectively manage information assets
happens to each within an established information
record and when. governance (IG) framework. Carlisle says
The length of time she knows of companies that make a big
that you must mistake by underestimating the importance
maintain a record of records management and hiring summer
differs based on interns to do it. “It’s not filing. You really
several factors, have to know and understand the business
including company your organization is in,” she emphasizes.
policy and
government rules According to the ISO 15489-1:2001, records
and regulations. management involves tasks like setting
You need to keep some records forever and, policies and standards, assigning
therefore, institute an archival process at responsibilities and authorities, establishing
some point. Throughout the records procedures and guidelines, providing access
management lifecycle, it’s essential to to management and use of records, and
maintain security and privacy. integrating records management into
business systems and processes. Because it
What Does Records Management Include? includes so many things, records
management can be a bit daunting, but the
Again, records management is by definition benefits outweigh the risks.
responsible for the creation and
maintenance of records throughout their Why Implement Records Management?
lifecycle. The function includes many
different but related elements, all with the Records management is a requirement for
goal of controlling access to company or many governmental agencies, and other
organizational records while maintaining companies also have systems in place.
ease of use and security. Records Records management provides a framework
management can be physical or electronic to gain control over piles of paperwork and
and is frequently a combination of both. locate documents and ensures that needed
information is easily accessible and readily
In practice, records management usually available. According to PRISM, an
includes a records manager. This is the organization’s active files grow at an annual
person responsible for records management rate of approximately 25 percent, and
within the organization, but that person paperwork is a huge overhead expense.
often has a team of people working together Proper records management can free up
to create and maintain systems. In some precious office space. PRISM says that at
companies and agencies, the top official, any given time, between three and five
often the agency head, CEO, or CFO, is percent of an organization’s files are lost or
ultimately responsible for records misplaced. Proper organization can help
management, even if they have hired others provide consistent service to clients and
to do the work of actively managing partners while simultaneously increasing
records. staff efficiency and productivity. Records
management is also a way to tell an
“A lot of companies think anybody can do organization’s history, but that job often
this,” says Diane Carlisle, IGP, CRM, and falls under the expertise of an archivist,
Information Governance Program Advisor rather than under that of a records
for ARMA International, a non-profit manager. Having proper records can also
professional association and global help a company that ends up in court.
authority on governing information as a Records can show conformity to statutory
strategic asset. Formed in 1955, ARMA requirements, provide proof of
International’s mission is to provide transactions, and offer protection against
information professionals with the unauthorized access. (Carlisle, 2019)
resources, tools, and training they need to

Additionally, in the event of an emergency, The Sarbanes-Oxley Act of 2002, also
records management can allow for known as Sarbox or SOX, created new
continuity. A records management requirements for public companies
redundancy plan should address the concerning records. The legislation came
following: about after the public scandals involving
Enron, WorldCom, and others. Section
• Creating a records and information 802(a) reads: “Whoever knowingly alters,
inventory destroys, mutilates, conceals, covers up,
• Labelling vital records and falsifies, or makes a false entry in any
designating them for redundancy record, document, or tangible object with
• Identifying who has access to the intent to impede, obstruct, or influence
records and including a third party the investigation or proper administration
located off site of any matter within the jurisdiction of any
department or agency of the United States
As part of planning for an emergency, it’s or any case filed under title 11, or in
important to identify potential scenarios relation to or contemplation of any such
and to communicate the disaster plan. matter or case, shall be fined under this
Simply backing up computer hard drives to title, imprisoned not more than 20 years, or
a portable drive would not do a company both.” The law also allows fines of up to $1
any good in a flood or fire.
million and prison sentences of up to ten

Consequences for Not Implementing years for CFOs and CEOs who falsely report
Records Management their company’s financial status. Sarbanes-
Oxley isn’t just about penalties. It also
Although the consequences are not the spells out whistle-blower protection for
same for every business or organization, employees who may be the ones to become
there can be severe penalties for not having aware of inappropriate behaviour within an
proper records management systems in organization. Since records management
place. In some cases, such as with professionals have extensive knowledge of
government grants or at government their company’s records and processes,
agencies, there might be financial penalties they might be the first to notice a problem.
or possible requirements to return grant
funds. Is Records Management Just for Large
In other situations, the penalty might be
fines, criminal charges, or imprisonment, as Records management exists to provide a
was the case for some individuals at Enron, history of documents and decisions and to
WorldCom, Imclone, Arthur Andersen, and ensure continuity. These benefits apply to
Morgan Stanley. Audits and other all companies and organizations, no matter
investigations of records at those how big or small. They even apply to
companies found irregularities in record individuals.
keeping, falsified documents, and improper Aside from Inland Revenue Boards of
destruction of documents. It is important Malaysia guidelines about tax records, there
to keep in mind that it could be illegal to are no set standards about how long you
destroy records during an open court case must keep business records. Many lawyers
or investigation, even if the destruction is and accountants suggest keeping original
in line with company policy. The legal tenet business documents for seven years, as
of spoliation comes into play in these cases. that’s the statute of limitations for many tax
According to Black’s Law Dictionary, audits, lawsuits, and other possible claims.
“Spoliation of evidence is the intentional, The suggestions for records management
reckless, or negligent withholding, hiding, for small businesses are basically the same
altering, fabricating, or destroying of as those for large ones.
evidence relevant to a legal proceeding.”

Even ARMA International does not publish Courtesy ARMA International
set guidelines about what to keep and for
how long — they say that requirements vary Records management should also have a
by industry, state, and country. “It depends champion at a high level within the
on the industry you’re in and how regulated organization to ensure proper buy-in and
you are,” Carlisle points out. “The key is compliance. Moreover, departments must
having a structure in place that is work together from the outset to create,
appropriate for the business you’re in.” implement, and use a system. Having the
technology department simply buy a system
How to Implement Records Management without input from other departments is not
a good idea. Records management is most
Beginning a proper records management effective if implemented organization-wide,
program does not need to be daunting. The rather than just within certain departments.
key to the system can be the records With the help of a records manager, taking
manager, the professional responsible for records inventory throughout the
records management within an organization is a good place to start. Doing
organization. That person (or persons) is this will give everyone a good idea of what
usually the expert in the records lifecycle exists and how much information you have.
and in how to maintain and protect privacy From this research, you will be able to
and data. It is also important to decide identify the vital records and records that
where the records management department tell the history of the organization.
fits in with an organization. Does it belong
in legal services, management and audits, Next, develop retention schedules that work
administrative services, information for your organization and follow industry,
technology, or somewhere else? The answer government, and ISO standards. Working
depends on the company’s organizational within those parameters, you will more
structure. clearly discover how to manage active and
inactive files. Part of the process is deciding
who has and does not have access to the
records, as well as who will control that
access. There are many companies that
specialize in helping with records
management. Some are software-based with
cloud storage capabilities. Others come in
and assist with storage and management of
physical records. If an organization has
been around for a while, chances are its
records management system includes both
physical and electronic records. Although
the two types of records are dramatically
different, a strong system will address ease
of access and protection of the record
throughout its lifecycle, regardless of
whether it’s physical or electronic.

What Is a Registry in Records
Management? (Kailes & Enders, 2014)

A registry is usually a physical place where
records management occurs. It is often

where paper records are filed and accessed,
usually by a records manager. This manager
also maintains a record throughout its
lifecycle, from creation to disposition. A

registry often incorporates records Issues That Arise in Records Management
management taxonomy. Taxonomy is the (Waters, 2019)
system of classification within a records
management system. It uses a As with any policy or procedure, records
predetermined system to organize the management is not free from complications
framework for classification. Taxonomies and issues. Records management has been
should be easy to remember and simple to in place in public and government agencies,
use. healthcare, and public companies for a long
time, but it’s just starting to catch on in the
Electronic Records Management (Sherperd, private sector. No matter how ingrained it is
1994) within in any system, there will always be
compliance and legal issues. The following
As technology becomes an increasingly issues can also be problematic:
significant aspect of business, records
management systems have had to keep • Conflicts between departments,
up. Records management applications especially between records managers
(RMAs) are software applications that and IT
manage records electronically by using • Security, data protection, and
features to categorize and locate active privacy, as hackers and data
records as well as identify records for breaches become more advanced
disposition. These apps must be secure, • Transparency and accountability, as
reliable, permanent, and comprehensive, freedom of information laws and
and they must comply with rules and other laws become more prevalent
regulations. When using any kind of • Adoption and implementation,
electronic system, it’s important to note because not everyone sees records
that simply scanning an existing paper management as a top priority
document might not be sufficient to make it • The merging of systems, as
a record. Some software systems require a companies acquire each other,
person to declare something a record, so merge, and grow together
the system can properly manage it. Each • The failure to recognize internet and
record must have a unique identifier to social media posts as records as the
work with some systems. dissemination speed of social media
Look for something that is easy to use and • Improper filing and creation of
has the necessary security to protect files. access when converting older
Some systems include document physical records to electronic ones
management systems (DMS) within the • Consistency across vendors and
scope of records management. Also, look departments and proper training are
for something that guarantees an also key components in the success
enforceable chain of custody, so you can of any records management system.
see what a record said, how the content Everyone needs to understand the
within it evolved, and who was involved records lifecycle and each step in the
with any changes. That kind of system can process.
prevent unauthorized access and changes.
Electronic records management systems Carlisle believes many companies have a
need to be able to adapt and grow as problem with one records management
technology changes. Formats change, and aspect in particular: “I think a big mistake is
the documents and records saved in a assuming a technology will fix all the
particular format might also need to problems you have. The technology should
change. For example, floppy discs were the be the last step in the process of records
best technology available in the mid-1990s. management because any company should
Now, hardly anyone has a drive to read first do an analysis of workflow and basic
those discs. Records management occurs in needs before turning to technology.”
the long term, not the short term.

Additionally, make sure any technology REFERENCES:
allows you to dispose of records once their
retention period is past. Carlisle says some Carlisle, D. (20 November , 2019). ARMA
systems do not allow deletions: “If you International. Retrieved from ARMA
cannot get rid of something, you will not be International:
in compliance with your retention schedule.
There is definitely a harm of keeping things Kailes, J. I., & Enders, A. (1 January, 2014).
forever. Most of the attorneys I know who What is Registry? Retrieved from
work in this space think a retention and Disability Policy Consultant:
disposition schedule should be in place.
What you want is a policy that is clear, a is.html
process that is clear, and the proper
documentation showing that you followed Laserfiche. (2019). Retrieved from What's
that policy and process.” the Difference Between Document
and Records Management?:
Records Management Training, Education,
and Certifications (Yusof & Chell, 1999)
Because of the comprehensive nature of document-and-records-
records management, there are degree management/#
programs, certifications, and professional Mountain, I. (20 October, 2015). Records
organizations dedicated to records and Management. What is Records and
information management. The field is Information Management?
changing and so is some of the terminology.
Carlisle says the term information assets is Sherperd, E. (1994). Managing electronic
now more popular than records records. Records Management
management. “It brings home the concept Journal, 39 - 49.
that information is as important as other
types of assets,” she says, “Information Waters, I. (19 February, 2019). Career Trend.
assets are as important as talent and Retrieved from Common problems
financial assets.” To help records faced by Records Management:
management professionals, ARMA
International has conferences, webinars,
and information they call their Generally Yusof, Z. M., & Chell, R. W. (1999). The
Accepted Recordkeeping eluding definitions of records and
Principles® and Information Governance records management: is a universally
Maturity Model. Both of these resources are acceptable definition possible?
available to guide people through the ever- Records Management Journal, 9 - 20.
changing field of records management.
“Even though the media is changing, the
requirements for facilitating that
information still exist. The company still
needs access to use it,” she says.

Records as a

strategic resource


Records as a strategic resource is defined that records as medium to improve

the effectiveness and efficiency of the organization, it becomes a strategic

resource that provide for future used. To provided good strategic resources

must begin with good staff and skill that require. The records management

professional requires skill and comprehension to handle the task and to

manage the records. Thus, the training to improve the staff skills and to

provided good services. And the other point is impacts of managing records as

a strategic resource. Most of the public response that the record management

is had big roles in one organization.

A record usually linked to an organization’s

official business and will be maintained as

evidence. Accordingly, records can be defined as
any recorded information or data in any physical

format or media created or received by an
organization during its course of official business

and kept as evidence of polices, decisions,
procedures, functions, activities and transactions.

Record surely can be identified in most of For example, a photocopy of identification card

organization but the practices of record will be kept as a record by the bank if a person
management maybe only some of the organization wants to open bank account as evidence of its

is familiar with it. Record management is systematic business.
administration of records and document information
Other than that, records management also can
for its entire life cycle from create stage, whereby
refer to the whole range of activities which an
the records is created by the creator. Then the stage
organization should perform their records in
is distributing, the records is shared out and can be
properly manage. The key activities that should be
access. Then use stage, the records can be use and
done include setting records management policy,
access. For the maintain stage, the records is need
assigning responsibilities, establishing procedures
to maintain by authorized person for the future used
and guidelines, as well as designing, implementing
and for the last stage is, dispose stage, before enter
and administering record keeping systems.
the dispose records need to appraisal first, the
records will be sent into archive or records However, by managing records as strategic

center. Records have a life cycle involving the resource gives many benefits to business

active, semi-active and inactive stages. organizations in order for them to run their daily
This stage represents the value of record itself. In basis activity of organizations and also to make

the business worlds, the most vital is the evidence of sure the organizations run smoothly, efficiently
every transaction, through review of the evidence of and effectively.

each transaction, this can minimize the risk of

failure. Lesley A. King (Iezara, 29 May 2016) stated

that “Good records management has an important

role to play in ensuring the competitiveness,
efficiency and continuity of an organization’s

business whichever domain or sector it happen to be

in. Record also came with variety type of records, it
is not only in formed of paper based, some of it in

audio visual type, or in electronic formed.

Business system

analysis and records


The record management is the tool for the

business system analysis. It is a material that

provided thus, the information to conduct business

system analysis. Business system analysis

important to increase the effectiveness of the one

organization. Record management is whole range
According to International Institute of
of activities which an organization should perform
Business Analysis (sonal, 2016) define that
to properly manage its records. Cornwell
Business Analysis is the practice of enabling
Management Consultants (TAGBOTOR, 2015)
change in an organizational context, by
define a record as a document produced or
defining needs and recommending solutions
received by a person or organization in the course
that deliver value to stakeholders. In the area
of business and retained by that person or
of business, understanding the concept of
organization. International Record Management
business is very important to lead to the
Trust, (1991) mention Records, then, are much
successful. Each of the employee in the
more than static artifacts or forms, although the
organization should know or understanding
forms they take often follow the functions they
the business objectives. “And the records
serve. They have information content, structure
management here to provide a information to
and context.
the business system through the record that had
been keep.

Training for records management professionals

Record management profession is one of the C.H Thompson 1961 was highlighting the training
difficult tasks, does this profession required skills that should be attend by record management

and difference education needed. Most of the professional is filling and vocabulary

modern country, they have been developing the training. This is because this type of training at
record center as a main of information agencies. that time was very require by records

Thus, this records center is provided or produced a management, thus the filling was including
people who are very expert in record management indexing, classification, storing, thus this skill that

field, and some of university they had been records manager must had. However, for the new
provided field for student who is interest and meet era of record management, some of the training

the requirement to enroll the record management should be add up for the record management

field. But most of the organization that was professional, such as facilitating the development
recruited the record management staff, does the of filing systems and retention and disposal

problem came with staff with poor understanding schedules and maintaining these to meet
in record management will be sent to attend for administrative, legal, and financial

training. requirements. In addition, should providing a
policy framework for how people are expected to

manage their records and use the system in place.

For the Impact of the of managing records, these Beside that, impact of managing records as strategic
can be view by economically. Through good resource is, support better

practicing of record management, surely produce management. Implementation of records
economically in term of reducing the operating management unquestionably will be managing

cost, the organized filing system help to save the resources effectively, According to Palmer (2000),

handling process of the records. A good records the role of records management system is that it acts
management system is essential for supporting as a control system that reinforces other control

financial management, accountability and systems such as internal and external auditing. The
transparency(Palmer, August 2000). Others is record environment that allows opportunities to

exchange reduction of time require. A proper commit fraud, once fraud, once fraud is detected;

filing system can facilitate retrieval and delivery records can provide a trail for investigators to track
of information to users as fast as they need. the root of corruption. However, for records to be

useful in this capacity, they must be accessible.

However, for developing strategic plan, according to
Sanderson & Ward (2003) the importance of records

management is increasingly being recognized in
organizations. It is therefore the responsibility of

records managers to ensure that they gain the
attention of decision-makers in their organizations.

Gaining recognition is all about convincing

management of the role of records management as
enabling unit in an organization.


Iezara, A. B. (29 May 2016). Records as a strategic resource.

Palmer, M. (August 2000). Records management and accountability versus corruption,
fraud and maladministration.

sonal. (2016). Business Analyst Job Description.

TAGBOTOR, D. P. (2015). Analysis of Records Management and Organizational


Records Management

Records management
activities include the
creation, receipt,
maintenance, use and
disposal of records. In
this context, a record is
content that documents a
business transaction.
Documentation may exist
in contracts, memos,
paper files, electronic
files, reports, emails,
videos, instant message
logs or database records.
Paper records may be
stored in physical boxes
on-premises or at a
storage facility. Digital
records may be stored on

storage media in-house or

in the cloud


Business Records Management is a field of management responsibility for
the efficient and systematic control of the creation, maintenance, use and

disposition of business records. It is a vital process to achieve the efficiency

and economy as well as to preserve the business records. Business records
which must be kept include documents which present a record of businesses

transactions or which allow these transactions to be traced and confirmed
from start until finish BY: NURSABRINA


Types of

According to
(Cameron, 2016),
there are many types
of business records in
the business
environment, Business
somehow business
records exist during
the entire business
process from an
establishment of the
business organization
until the services or
products that produce Records
by the organization.
Meanwhile, there are
many types of business
records that
compulsory in business

Types of Business Records















Accounting records are the
document of business’s transactions.
These records include information
about business income, expenses,
and equity. It is used to demonstrate
the process of financial in business
Eg: Account receivable, Cheques:
paid and cancelled, Financial
statement, bank statement,
investments and credit cards.

These records are created in the process
of promoting goods and services to the
customers such as:

Eg: Drawing and artwork, Market data
and survey,Catalogs, Brochures

-The records used for daily activities and operation
reports in the business organization.
-For examples, Audit Reports For Internal, systems and
procedures records , Organizational Chart, Minutes of
meeting, Correspondence inward and outward, and
private and public organization.



Insurance does not protect the asset but it does not
prevent its loss due to the risk. The risk cannot be
avoided through insurance.

Eg: Claims: automobile, group life & hospital, loss or
damage in transit, workmen compensation etc,
expired policy, accident, fire etc.

Used to explain about the administration of the
organization and everything that shows the
information about the organization.

Eg: Policy statements, directives, research reports,
speeches and publications.


The records show the background and condition.
(vital records)

Eg: Permits to do business, records of mergers,
reorganizations etc., corporate videos


Depending on organization type of These records are related to staff or any

business structure, they have different individual that is involved in an
legal documents. Usually, a partnership organization.

has a partnership agreement. Sole
Eg: Attendance reports, Employee
proprietors and corporation also have
contracts, Pension plan, Disability and
legal documents. Keep legal documents
sick benefit records.
in business records as proof that owner
of the organization or company. Used to

protect the rights of an individual or an

organization whenever it comes to any
legal proceedings

▪ Eg: Claims and litigation
of breach of contracts,

appeal records, copyright,
trademarks, patents and

related data.
These records are related with
industrial operation.

Eg: Inspection records, production

reports, operating reports, quality

control reports, order register etc.


Refers to any records related to the functions of managing land and buildings.

Eg: Maintenance and repairs: buildings, machinery, depreciation schedules,
plans and specifications, damage reports etc.

Types of Business Records (continue)


Relate to purchase, lease or hire of

significant stores and equipment.

Eg: Bids, awards, purchase orders,


These records related with the process

of selling and buying.

Eg: Discount rates, warrantees, sales

invoices, market research studies and

analysis, ordered filled, price lists.


These records are related to the

amount assessed as tax or the revenue
gained from taxes.

Eg: Tax bills and statements, tax
returns and working papers, text

exempt sales

Importance of Record Keeping

1. It helps you to manage your

accounts, interests, taxes and
working costs effectively.

9. Tells about hidden and

unexpected costs.
2. Tells about cash

in hand

An up-to-date database is one of the most
8. How your business useful resources which can help you when
performs against your it comes to planning new marketing and
sales strategies. Unfortunately, most
competitors. businesses fail to tap into this resource 3. Act as resource
effectively. for new strategies.

Other business records which must be kept
include documents which provide a record
of your business transactions, or which
enable these transactions to be tracked and
7. Helps in monitoring verified through the accounting system
from start to finish. These include invoices,
company growth rate receipts, cash register tapes, banking
and profit. records, cheque butts.
4. Helps in finding
The essence of good record keeping is good solutions for business
bookkeeping. Efficient bookkeeping will
save you time and money in the long run. issues.
(Fox, 2017 )

5. And most of all it is the most
6. Tells about the resourceful adviser whenever

customer service and your business is in serious
employee efficiency. trouble.

A systematic records


program adds value

to the daily functions

of the staff

The ability to access these
vital documents on
demand is crucial for
administering contracts,
meeting compliance
requirements and other
critical contract-related
objectives. And yet it’s
estimated that more than
seven in 10 companies are
Understanding unable to locate at least 10
percent of their contracts.
As such, the first step to
successful contract
the Impact of organized and systematic
management is taking an
approach to records
management. While the
prospect of organizing so
many documents may
a Records seem overwhelming, it’s
easier than you think to get
started – especially if you
begin employing an
organizational system for all
Management forward, and then migrate
documents moving

your historical contracts on
an as-needed basis over
System Considering that the

investment in getting
started is so minimal, the
ROI of doing so is
overwhelmingly positive. If
you don't yet have a strong
records management
system in place, here are
four key impacts you can't
afford to ignore.

Knowing what to do with high volumes of paperwork and digital
files is a key challenge in the enterprise. Within contract
management, records management is an even bigger
challenge: between employment agreements, customer and
vendor contracts, NDAs and a host of other agreement types,
enterprise contract portfolios can consist of tens of thousands of
contracts, both current and archival. (Cutright, 2019 )

Understanding the Impact of A Records

Management System

1. Access the information you need, when you need it

An organized records management system makes
retrieving specific contracts and information quick and
effortless. If you are using an online platform, look for
features such as intuitive organizational structures, such
as folder trees, and tagging, both of which can make
it easy to spot what you’re looking for at a glance. A
platform that enables text-based searches can also
make it easy to access specific records.

2. Better contract management

Without an efficient records management system, this can
become an exercise in futility – not only can it be difficult and
time-consuming, if not impossible, to seek out this information,
but if you file away your contracts thoughtlessly, chances are
these tasks won’t be top of mind. Because obtaining the
greatest value of your contracts requires careful
management, it’s important to stay organized. Even better,
look for a records management system that offers
automated features such as reports and notifications that
can further reduce the burdens of managing contracts.

3. Improved document security

Taking a willy-nilly approach to document storage makes it harder to
protect the sensitive data your files may contain, including
competitive information and trade secrets. Without a clear system for
managing records, there’s no way to ensure employees aren’t leaving
confidential documents out in the open or accessing them online
across insecure channels, or taking any other actions that could
compromise their security. On the other hand, taking a systemic
approach to records management allows you to incorporate
measures that will offer the best-possible document protection.



Cameron, A. (2016). 5 Types of Business Records You Need to Track.

Cutright, E. ( 2019 ). Understanding the Impact of a Records Management System.

Fox, D. (2017 ). IMportantn of Business Records keeping.

Handbook Chapter 1 ( Management of Business Records, IMR 652)


Eivy Vivianna

Physical Records are records that we can touch. They take

up physical space, such as records or paper or media such
as CDs.

A record is a piece of data or content maintained for a legal

purpose. The purpose may be to follow regulations. It may
be for an organizational reason, such as proof of a

transaction or historical purposes.

Records management involves managing records
throughout their lifecycle. Physical records management is

managing assets that you can touch throughout the


Here is an overview of the physical records management lifecycle (Lewis, 2018):

1. Identify: Decide what a record is and classify it according to the file plan.

2. Store: Put the record in the correct location.

3. Track Movement: Manage records requests, loans, and track the record’s

4. Dispose: Approve records for disposal and destroy them.

Electronic Records is a document that is
created and stored through the use of

electronic means. The primary use of an
electronic record is to prove sufficient

evidence of an action that has occurred. An

electronic record is not easily altered and
can only be disposed of within prescribed

rules of the law.

Electronic records management refers to
the sphere of management that is solely

responsible for overseeing the entirety of the electronic records from creation right

through disposition. Electronic records management makes use of systematics
controls to control and maintain activities associated with the access and transfer of

electronic records helps safeguard against unauthorized access and changes that
can be made to the electronic records (Ramohlale, 2016).

Characteristics of an Electronic Record


➢ Need a lot of space to store the
record. For example, record


➢ More secured from people but
may loss record due to natural


➢ Have procedure and need more
time to retrieve the record.

➢ Require more personnel to

manage and maintain the



➢ Less space needed to store

the record. For example, cloud

➢ Secured from natural disaster
but vulnerable to access by

unauthorized individuals

without strong security.

➢ Easily to retrieve because it
may organize automatically.

➢ Less man power needed.

Lewis, S. (2018, November 15). What is
Physical Records Management? RecordPoint.

Ramohlale, C. (2016). What is Electronic
Records Management (ERM) and why should
organisations implement Electronic Records
Management. University of Johannesburg,
South Africa. : Academia Edu.

Dunbar, A. (2017). Paper Based vs. Computer
Based. bizfluent.

Hall, M. (n.d.). QAPrep. Retrieved from My
Digital Maven:

Electronic tuberculosis surveillance systems:
A tool for managing today's TB programs -
Scientific Figure on ResearchGate. Available
surveillance_tbl1_5549271 [accessed 24 Nov,

O'Mara, M. (2016, February 11). What Are the
Best Records Storage Options? Record




A WA Auditor

General’s report

released on (Skatssoon,

April 2019) found local

governments are falling

when it comes to
Auditor General
record keeping,
Caroline Spencer
exposing themselves to
on Wednesday
unnecessary costs,
tabled her report,
inefficiencies and
which looked at
potential breaches
the record keeping
relating to personal resources,
plans of 146 local
data. planning
governments and

The report says it’s not approvals,
examined the
that the state’s councils health
record keeping
don’t have perfectly practices of four inspections,

good record keeping complaints
of them in relation

plans, but these are to human and waste

poorly implemented. management

Four councils reviewed – City of

Canning, Eastern Metropolitan Regional
Council, Shire of Toodyay and Town of

Mosman Park – were “not effectively
implementing” their record keeping

plans, she said.

“Our audit reveals a trend where record
keeping is not front of mind or

adequately embedded into local
governments’ day-to-day business “If records are held too long, record

practices,” Ms. Spencer said. searches can become inefficient and

agencies can potentially expose
“Too often records management is
themselves to incidents of personal
treated as an additional task rather than
data breaches if they store sensitive
being integrated into normal business
records beyond prescribed periods,” the
practice. Unfortunately, this audit tells a
report says.
similar story.”

Ms. Spencer said the four councils had
The report also noted that records are
accepted the audit findings, although
often being held for too long, raising the
one said it was a challenge for smaller
prospect of an impending “digital
councils to “find a balance between
landfill”. Holding on to records for too
cost and benefit in relation to records
long can result in inefficient searches,
management controls.”
unnecessary storage costs and potential
personal data breaches.

Corruption in local Corruption in procurement

government can lead to was identified as an

increased costs and ongoing risk with common

reduction in economic vulnerabilities including

growth, diminished trust in conflict of interest, lack of

councils and jeopardise supervision and failure to

the delivery of valuable comply with robs

programs and services. the community of much

needed funds to support

front line services.

Corruption hurts us all.


Skatssoon, J. (April 2019). Councils fail on corruption

prevention, records.

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