What is record, IMR e-magazine

BY AMELDA BELLINDA ANAK
JOHAN

THE IMPORTANCE
AND BENEFITS OF
BUSINESS RECORD
MANAGEMENT

What is a record? Why is record management
— Record can be define as a document that memorialize important?
and provides objectives evidences of activities performed,
events occurred, results that is achieved or statements Records management ensures
that are made. A record may consist of two or more
documents. Records can be in papers, digital or other that institutional records of vital
format. Some examples include:
historical, fiscal and legal value
 Emails
 Reports are identified and also
 Databases
 Samples and objects preserved, and also that non-
 Letter
 Minutes essential records are discarded
 Photograph
 Social media sites in a timely manner according to
 Faxes
 Spreadsheets the established guidelines and

identified legislation.

Benefits of records management
include more effective
management of your current
records which is both papers
and electronic; where it help to
reduce or eliminated the level of
record-keeping redundancies;
reduced costs for records
storage equipment and supplies;
and increase usable office
space through the elimination of
unnecessary file storage.

In addition, record management
provides institutional
accountability and timely access
to information

 Maps and plans
 Information in business
 Text messages
 Policy and briefing papers
 Research data

THE IMPORTANCE OF RECORD MANAGEMENT

1. ACTS AS EVIDENCE

- Records will also act as evidence in any
situation especially in the time of dispute. It
is important for the settlement of dispute.
This is because records can be shown as a
proof in court.

2. PRESERVATION OF RECORDS

-it helps in preserving and also control the important
record in the organization. It also helps to protect the
necessary record which carry high value to the
organizations and dispose the record which is no
longer needed.

3. EVALUATING PROGRESS 4. HELPFUL IN DECISION MAKING

Records help in evaluating the progress of Records are the memory of the business. It is
the organization. It helps in the preservation useful for future decision making process where
of history of organization. The past records it supplies the information to the organization
show the direction of the organization and it whenever is needed. Therefore, it is very useful
helps in finding out the weakness and in making decisions.
strength of the organization. Records
management gives an account of progress
and direction in which the organization is
going on.

BENEFITS OF RECORDS MANAGEMENT IN AN ORGANIZATION

Good records management saves times, effort, space, money and also other resources. A
good records management offers many benefits such as effectively retrieve and dispose
the records, legal compliance, safeguard the information, easier to respond to an audit or
litigation, storage space and cut costs and save time and also efforts.

1. EFFECTIVELY RETRIEVE AND 2. LEGAL COMPLIANCE
DISPOSE THE RECORDS
It is necessary for the companies to apply a good
The better organised the business record management system and also make sure that
information is, the faster you will be able to they are in full compliance with the law and
access to the needed documents. One of the regulations. There are many law and regulations
key benefits of records management is that governing record keeping, making sure that you
the records can be categorised, tracked, comply with all of them is not an easy task. Correctly
labelled and also organised more effectively. implemented records management and storage can
When the time taken is too long to get be very beneficial as it prevent or avoid from any
access to the information, this will reduced costly fines, penalties, legal issues and also
productivity. This is why installing a well- investigations.
designated filing system that can retrieving
the records and also dispose records past
their end-of-life date.

https://tyrocity.com/topic/importance-of-record-management/
https://www.ironmtn.co.za/benefits-of-records-management/
https://www.unbc.ca/records-management/why-records-management-important