MANAGEMENT OF BUSINESS RECORD IMR652 MANAGEMENT OF BUSINESS RECORD IMR652 FINAL PROJECT: E-MAGAZINE PREPARED FOR: DR MOHD SHAMSUL BIN MOHD SHOID
FATIN FARIHAH BINTI MOHD KAMAL [email protected] THE TEAM EDITOR 1 011-23377145 AINA ZULAIKHA BINTI MOHD ZAID [email protected] EDITOR 2 018--2536509 SITI NOORIZZATI BINTI MOHD MAZLAN EDITOR 3 2020818926 017-5180049 2020845072 202601996 [email protected] MUHAMMAD MUZZAMAN BIN MARJUNI EDITOR 4 2020609066 011-28170266 [email protected] ZAIFUL ZUKRY BIN ZAIDAN EDITOR 5 2021127859 016-4226096 [email protected]
TEAM MEMBER Chapter 1: Types of Business Records and Types of Business Organization INTRODUCTION OF BUSINESS RECORDS MANAGEMENT 123-456-7890 TABLE OF CONTENT IMPORTANT OF BUSINESS RECORD MANAGEMENT I Chapter 2: Criteria of Records and Impact on Systematic Records Chapter 3: Challenges and Solution in Business Records Management Chapter 4: Best Practices for Business Record Management Chapter 5: RecordKeeping Technologies CONCLUSION REFERENCES
MANAGEMENT OF BUSINESS RECORDS INRODUCTION OF BUSINESS RECORD MANAGEMENT BUSINESS RECORD MANAGEMENT IS THE SYSTEMATIC AND STRATEGIC APPROACH TO ORGANIZING, STORING, AND RETRIEVING BUSINESS INFORMATION AND DOCUMENTS. IT INVOLVES IMPLEMENTING EFFECTIVE PRACTICES AND TECHNOLOGIES TO ENSURE THESE RECORDS' ACCURATE AND SECURE MANAGEMENT. FOR BUSINESSES, EFFECTIVE RECORD MANAGEMENT IS CRUCIAL FOR MAINTAINING COMPLIANCE WITH LEGAL AND REGULATORY REQUIREMENTS, ENHANCING OPERATIONAL EFFICIENCY, AND SUPPORTING INFORMED DECISION-MAKING PROCESSES. THIS SOURCE FROM THE NATIONAL ARCHIVES HIGHLIGHTS THE IMPORTANCE OF RECORDS MANAGEMENT IN BUSINESS. IT DISCUSSES THE BENEFITS OF EFFICIENT RECORD MANAGEMENT, INCLUDING REDUCED RISKS, IMPROVED DECISION-MAKING, AND ENHANCED CUSTOMER SERVICE. THE ARTICLE ALSO EMPHASIZES THE LEGAL AND REGULATORY REQUIREMENTS BUSINESSES MUST ADHERE TO AND PROVIDES PRACTICAL TIPS FOR EFFECTIVE RECORD MANAGEMENT. THE ISO 15489-1 STANDARD COMPREHENSIVELY OVERVIEWS RECORDS MANAGEMENT CONCEPTS AND PRINCIPLES. IT OUTLINES THE FUNDAMENTALS OF RECORD MANAGEMENT, INCLUDING THE IMPORTANCE OF RECORD INTEGRITY, ACCESSIBILITY, AND PRESERVATION. THIS STANDARD IS A VALUABLE RESOURCE FOR BUSINESSES SEEKING TO ESTABLISH ROBUST RECORD MANAGEMENT SYSTEMS. THIS ACADEMIC JOURNAL ARTICLE DISCUSSES INTEGRATING ELECTRONIC RECORDS MANAGEMENT WITH BUSINESS PROCESSES. IT HIGHLIGHTS THE ADVANTAGES OF ELECTRONIC RECORDS MANAGEMENT, SUCH AS IMPROVED DATA ACCURACY, FASTER RETRIEVAL TIMES, AND COST SAVINGS. THE ARTICLE PROVIDES INSIGHTS INTO THE CHALLENGES AND SOLUTIONS FOR IMPLEMENTING ELECTRONIC RECORDS MANAGEMENT SYSTEMS IN BUSINESS ENVIRONMENTS. BRYANS, P. (2018). THE IMPORTANCE OF RECORDS MANAGEMENT IN BUSINESS. THE NATIONAL ARCHIVES. RETRIEVED FROM HTTPS://WWW.NATIONALARCHIVES.GOV.UK/DOCUMENTS/INFORMATION- MANAGEMENT/IMPORTANCE-OF-RECORDS-MANAGEMENT-IN-BUSINESS.PDF REFERRENCES REFERRENCES INTERNATIONAL ORGANIZATION FOR STANDARDIZATION. (2018). ISO 15489-1:2016 - INFORMATION AND DOCUMENTATION -- RECORDS MANAGEMENT -- PART 1: CONCEPTS AND PRINCIPLES. RETRIEVED FROM HTTPS://WWW.ISO.ORG/STANDARD/74909.HTML GHINEA, V., GĂVAN, R., & CHIROŞCA, C. (2014). ELECTRONIC RECORDS MANAGEMENT FOR BUSINESS PROCESS. ACADEMIC JOURNAL OF INTERDISCIPLINARY STUDIES, 3(4), 269-275. REFERRENCES TIMSON, J. (2018). RECORDS MANAGEMENT: A GUIDE TO CORPORATE GOVERNANCE AND COMPLIANCE. IET. RETRIEVED FROM HTTPS://ELECTRICAL.THEIET.ORG/WIRING-MATTERS/YEARS/2017/ISSUE-85- DECEMBER-2017/RECORDS-MANAGEMENT/ REFERRENCES
Compliance with regulations. Many industries are subject to regulatory requirements that mandate the retention of certain records for specific periods of time. For example, financial institutions must retain customer account records for seven years, and healthcare providers must retain patient medical records for at least ten years. A good record management system will help businesses to ensure that they are in compliance with all applicable regulations. Protection of legal rights. Business records can be used as evidence in legal proceedings, such as lawsuits or regulatory investigations. A well-organized and secure record management system will help businesses to protect their legal rights by ensuring that they have access to the records they need when they need them. IMPORTANCE OF BUSINESS RECORD MANAGEMENT Business record management is the systematic control of the creation, receipt, maintenance, use, and disposition of records, including the processes for capturing and storing information created in the course of conducting business activities. It is important for businesses to have a well-defined record management system in place for a number of reasons, including Improved efficiency and productivity. A good record management system can help businesses to improve their efficiency and productivity by streamlining the processes for creating, storing, and retrieving records. This can free up employees to focus on their core business activities and can help to reduce the risk of errors. Enhanced decision-making. Business records can provide valuable insights into past performance and trends, which can help businesses to make better decisions in the future. A well-managed record system will make it easier for businesses to access the information they need to make informed decisions. Improved customer service. Business records can be used to provide better customer service by providing employees with the information they need to answer customer questions and resolve problems.
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Types of Business Records Date : Topic : Administrative Advertising Accounting & Fiscal By: Fatin Farihah These records are related to the day-to-day operations and management of the business. Example: employee attendance records, meeting minutes, memos, and office supply inventories These records pertain to the business's advertising and promotional activities. Example: advertising contracts, marketing plans, media buying data, and campaign performance reports. financial statements invoices bank statements payroll records tax returns. These records involve financial transactions and activities of the business. Examples:
Types of Business Records Date : Topic : Corporate Executive Insurance These records pertain to the legal and governance aspects of the business. Examples: articles of incorporation, bylaws, shareholder meeting minutes, and stock certificates. These records are specific to high-level executives and contain information relevant to their responsibilities and decision-making. Examples: executive meeting notes, strategic plans, and correspondence. insurance policies claim records accident reports. These records relate to the business's insurance policies and claims. Examples: By: Fatin Farihah
Types of Business Records Date : Topic : Legal records Manufacturing Plant & Property By: Fatin Farihah These records involve legal matters related to the business. Examples: contracts, licenses, permits, lawsuits, and intellectual property documentation. These records pertain to the production and manufacturing processes of the business. Examples: production schedules, quality control records, and inventory records. property deeds maintenance logs asset depreciation schedules. These records relate to the business's physical assets, such as buildings, vehicles, and equipment. Examples:
Types of Business Records Date : Topic : Personnel Purchasing By: Fatin Farihah These records contain information about the business's employees. Examples: employment contracts, performance reviews, training records, and disciplinary actions. These records involve the business's procurement activities. Examples: purchase orders, invoices, supplier contracts, and inventory receipts. Sales & Marketing Taxation These records pertain to the business's sales and marketing efforts. Examples: sales reports, customer databases, market research data, and advertising campaigns. These records involve the business's tax-related documents and records. Examples: tax assessments, receipts, financial transaction records, and tax correspondence.
TYPES OF BUSINESS ORGANIZATIONS SOLE PROPRIETORSHIP A sole proprietorship is a business owned and operated by a single individual. Example: freelancers, consultants, small retail shops, and local restaurants. PARTNERSHIP CORPORATION COOPERATIVE BY FATIN FARIHAH A partnership is a business structure in which two or more individuals share ownership and responsibility. Example: law firms, accounting firms, and real estate development companies. AA corporation is a legal entity that is separate from its owners, known as shareholders. (Large Business) Example:Kumpulan Darul Ehsan Berhad (public) and Siti Nurhaliza Production Sdn. Bhd (private) Form of business ownership in which group of sole proprietorship or partnership agree to work together for commit benefits. Example: Koperasi UiTM
CRITERIA OF RECORDS AND IMPACT ON SYSTEMATIC RECORD "Good records are the foundation of a successful business. They provide a clear and accurate record of your activities, which can be used to track your progress, make informed decisions, and comply with regulations. Without good records, you are flying blind and at risk of making costly mistakes. 01 |THE CRITERIA FOR DETERMINING WHICH RECORDS ARE IMPORTANT TO KEEP 02 | THE IMPACT OF SYSTEMATIC RECORD KEEPING ON AN ORGANIZATION'S OPERATIONS 03 | THE CHALLENGES OF IMPLEMENTING A SYSTEMATIC RECORD MANAGEMENT SYSTEM 04 | THE FUTURE OF RECORD MANAGEMENT IN THE DIGITAL AGE TOPIC DISCUSSED AINA ZULAIKHA
Some records may be used as evidence in legal proceedings, such as lawsuits or regulatory investigations. These records should be kept for as long as they may be needed to defend the organization's legal interests. The cost of storing records can be a factor in determining which records to keep. Some records may be relatively inexpensive to store, while others may require special storage conditions or equipment. 01 Many industries are subject to regulatory requirements that mandate the retention of certain records for specific periods of time. For example, financial institutions must retain customer account records for seven years, and healthcare providers must retain patient medical records for at least ten years. LEGAL OR REGULATORY 02 Some records may contain information that is essential to the organization's operations, such as contracts, financial records, or employee records. These records should be kept for as long as they are needed to support the organization's activities. VALUE INFORMATION 03 POTENTIAL LEGAL ACTION 04 Some records may have historical value, such as documents that document the organization's founding or important events in its history. These records should be kept for as long as they are considered to be of historical value. HISTORICAL VALUE 05 COST OF STORAGE THE CRITERIA FOR DETERMINING WHICH RECORDS ARE IMPORTANT TO KEEP THE CRITERIA FOR DETERMINING WHICH RECORDS ARE IMPORTANT TO KEEP AINA ZULAIKHA
THE IMPACT IMPROVED EFFIENCIENCY Protection of legal rights: Business records can be used as evidence in legal proceedings, such as lawsuits or regulatory investigations. A wellorganized and secure record management system can help organizations to protect their legal rights by ensuring that they have access to the records they need when they need them. A good record management system can help organizations to improve their efficiency and productivity by streamlining the processes for creating, storing, and retrieving records. This can free up employees to focus on their core business activities and can help to reduce the risk of errors. Reduced risk of data loss: A good record management system will help to protect organizations from the risk of data loss by ensuring that records are properly backed up and stored in a secure location. Improved disaster recovery: In the event of a disaster, a good record management system will help organizations to recover their records more quickly and easily. THE IMPACT ON SYSTEMATIC RECORD KEEPING Compliance with regulations: Many industries are subject to regulatory requirements that mandate the retention of certain records for specific periods of time. For example, financial institutions must retain customer account records for seven years, and healthcare providers must retain patient medical records for at least ten years. Systematic record keeping can help organizations to ensure that they are in compliance with these requirements and to avoid costly fines or penalties. SYSTEMATIC RECORD KEEPING CAN HELP ORGANIZATIONS TO ENSURE THAT THEY ARE IN COMPLIANCE WITH THESE REQUIREMENTS AND TO AVOID COSTLY FINES OR PENALTIES. AINA ZULAIKHA
S Y T EMA T I C R E CO R DS IMPLEMENTING A SYSTEMATIC RECORD MANAGEMENT SYSTEM CAN BE A COSTLY INVESTMENT. THIS IS ESPECIALLY TRUE FOR LARGE ORGANIZATIONS WITH A LARGE VOLUME OF RECORDS. EMPLOYEES MAY RESIST CHANGE, ESPECIALLY IF THEY ARE ACCUSTOMED TO THE OLD WAY OF DOING THINGS. THIS CAN MAKE IT DIFFICULT TO IMPLEMENT A NEW RECORD MANAGEMENT SYSTEM. IMPLEMENTING A SYSTEMATIC RECORD MANAGEMENT SYSTEM CAN TAKE TIME. THIS IS BECAUSE IT REQUIRES THE ORGANIZATION TO ASSESS ITS CURRENT RECORDKEEPING PRACTICES, DEVELOP A NEW SYSTEM, AND IMPLEMENT THE NEW SYSTEM. IMPLEMENTING A SYSTEMATIC RECORD MANAGEMENT SYSTEM MAY REQUIRE THE USE OF NEW TECHNOLOGY. THIS CAN BE A CHALLENGE FOR ORGANIZATIONS THAT ARE NOT FAMILIAR WITH NEW TECHNOLOGY OR THAT DO NOT HAVE THE RESOURCES TO INVEST IN NEW TECHNOLOGY. COST EMPLOYEE RESISTANCE TIME TECHNICAL CHALLENGES OLIVIA WILSON WORKBOOK THE CHALLENGES OF IMPLEMENTING A SYSTEMATIC RECORDS AINA ZULAIKHA
THE FUTURE OF RECORD MANAGEMENT DIGITAL AGE THE INCREASING USE OF ELECTRONIC RECORDS AS MORE AND MORE RECORDS ARE CREATED AND STORED ELECTRONICALLY, THE NEED FOR A SYSTEMATIC APPROACH TO ELECTRONIC RECORDS MANAGEMENT WILL BECOME INCREASINGLY IMPORTANT. THE GROWTH OF CLOUD COMPUTING CLOUD COMPUTING IS LIKELY TO HAVE A SIGNIFICANT IMPACT ON RECORD MANAGEMENT, AS IT PROVIDES A MORE EFFICIENT AND COSTEFFECTIVE WAY TO STORE AND ACCESS RECORDS. THE DEVELOPMENT OF NEW TECHNOLOGIES: THE DEVELOPMENT OF NEW TECHNOLOGIES, SUCH AS ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING, IS LIKELY TO REVOLUTIONIZE RECORD MANAGEMENT BY MAKING IT EASIER TO AUTOMATE TASKS AND EXTRACT INSIGHTS FROM DATA. THE NEED FOR COMPLIANCE WITH NEW REGULATIONS: AS NEW REGULATIONS ARE DEVELOPED, ORGANIZATIONS WILL NEED TO ENSURE THAT THEIR RECORD MANAGEMENT SYSTEMS ARE COMPLIANT. FUTURE AINA ZULAIKHA
A short-term property market can be competitive if it is in a popular vacation spot saturated with offers. You need to spend time and effort to make sure your property creates steady cash flow. BEST PRACTICE RECORD MANAGEMENT State agencies are legally responsible for creating and maintaining records that document the transactions of government business. These records provide transparency and accountability to its citizens. State agencies must maintain this information according to established Records Disposition Authorizations (RDA). 01 | RECORDS BASICS 02 | RECORDS DISPOSITION AUTHORIZATIONS 03 | REFORMATTING RECORDS 04 | ELECTRONIC RECORDS 05 | RECORDS DESTRUCTION 06 | RECORDS HOLDING REPORT 07 | PROTECTING YOUR CONFIDENTIAL RECORDS 08 | DISASTER PLANNING 09 |STORAGE AND TRANSFER TO STATE RECORDS CENTER 10 |ARCHIVAL TRANSFERS AND PRESERVATION TOPIC DISCUSSED RECORDS MANAGEMENT BEST PRACTICES AND PROCEDURES
BEST PRACTICE ESTABLISH A CLEAR RECORDS MANAGEMENT POLICY THAT OUTLINES THE PURPOSE, SCOPE, AND RESPONSIBILITIES OF RECORD MANAGEMENT WITHIN THE ORGANIZATION DEVELOP RECORD RETENTION SCHEDULES THAT SPECIFY THE MINIMUM AND MAXIMUM PERIODS FOR WHICH EACH TYPE OF RECORD SHOULD BE RETAINED, CONSIDERING LEGAL, REGULATORY, OPERATIONAL, AND HISTORICAL REQUIREMENTS. IDENTIFY DIFFERENT TYPES OF RECORDS GENERATED AND RECEIVED BY THE BUSINESS AND CATEGORIZE THEM BASED ON THEIR SIGNIFICANCE AND RETENTION REQUIREMENTS. IMPLEMENT A CENTRALIZED FILING SYSTEM WITH CONSISTENT NAMING CONVENTIONS, FOLDER STRUCTURES, AND INDEXING METHODS FOR EASY RETRIEVAL AND ACCESS TO RECORDS. Files management is the process of determining how files will be arranged, categorized, accessed, and stored. Whether in paper or electronic format, having good filing practices ensures that the right file can be retrieved quickly at the right time for the lowest possible cost. Users of the system should be part of the planning process and trained on policies and procedures when the system is implemented. Create a policies and procedures manual to distribute to staff members for easy reference. Ensures that an agency or department is in compliance with both state and federal laws. Verifies that records needed for legal, fiscal, or administrative purposes will not be destroyed prematurely. Allows records that are no longer useful to be destroyed legally. Determines when records may be transferred to a state records center or to Tennessee State Library & Archives for permanent storage. Benefits of a Retention Schedule By implementing a retention schedule, an agency: The software in which a file is created usually has a default format, often indicated by a file name suffix or extension. Proprietary file formats, such as WMV and DOC, are controlled and supported by just one software developer. Preservation of records in proprietary file formats depends on the longevity of the software used to create and store the records. Open file formats are supported by more than one developer and can be readily accessed by various software systems. They are the preferred method for long‐term preservation and use of electronic records. Consistently named files are easier to find and identify than those that are named randomly. Therefore, it is important to establish an agency wide file‐naming policy that complements the organization’s electronic records management strategy. A good file naming convention system is descriptive and understandable over time to others besides the creator, is unique, and uses standardized language. Allow for expansion of naming conventions to accommodate the growth of records. SUMMARY FROM TOPIC DISSCUSSED
BEST PRACTICE ENSURE PROPER SECURITY MEASURES ARE IN PLACE TO PROTECT SENSITIVE RECORDS FROM UNAUTHORIZED ACCESS, LOSS, THEFT, OR DAMAGE. PROVIDE TRAINING AND AWARENESS PROGRAMS TO EMPLOYEES REGARDING RECORD MANAGEMENT PRACTICES, PROPER FILING TECHNIQUES, AND THE USE OF RECORD MANAGEMENT SYSTEMS OR TOOLS REGULARLY BACK UP ELECTRONIC RECORDS TO PREVENT DATA LOSS AND TEST THE BACKUP AND RECOVERY PROCEDURES PERIODICALLY VITAL, LONG‐TERM, OR ARCHIVAL RECORDS BE STORED UTILIZING ONLINE OR NEARLINE STORAGE OPTIONS. Redacting confidential information from a paper record requires the following: Make a paper copy of the paper original Use a black marker to redact the confidential information on the paper copy Make a new copy of the redacted copy Redacting confidential information from an electronic record requires the following: Create a new copy of the redacted document There cannot be multiple layers of this new copy There cannot be masks present on this new copy 1. 2. Responsibility for providing trained staff and appropriate equipment necessary to produce and store microfilm reproductions of official, permanent value bound volume records created by the various county and municipal governments of the state is hereby vested in the state library and archives. To implement this security microfilming program, the state librarian & archivist is authorized to develop a priority listing of essential records based on retention schedules developed by the county technical assistance service and the municipal technical advisory service. Media life span depends on factors such as storage conditions and daily use. Avoid excessive use and handling as well as storage spaces that lack climate control. Media begin deteriorating from the date of manufacture, not the date of recording. Do not buy large quantities of media. Buy it only as needed. Consider the maintenance of hardware devices that allow access to the data. Even under the best of conditions, hardware becomes obsolete, parts are difficult to locate, and service for the equipment becomes limited. Software may be superseded or become obsolete, at which point it may no longer be supported by the developer. Your agency should have a plan in place to upgrade or migrate your data as needed. When storing electronic records consider the following: Off‐line storage devices are not recommended for record copies of vital, long‐term, or archival records, as they are less likely to be routinely accessed and are often overlooked when systems are upgraded and electronic records are migrated to new formats. Off‐ line storage is a recommended approach for backups or security copies, as the records can be stored off‐ site. All storage media have finite life spans that are dependent on a number of factors, including manufacturing quality, age and condition before recording, handling, maintenance, frequency of access, and storage conditions. Studies indicate that under optimal conditions the life expectancy of magnetic media ranges from 10 to 20 years, while optical media may last as long as 30 years.
BEST PRACTICE ESTABLISH PROCEDURES FOR THE SECURE AND PROPER DISPOSAL OF RECORDS THAT HAVE REACHED THE END OF THEIR RETENTION PERIODS, ENSURING CONFIDENTIAL OR SENSITIVE INFORMATION IS APPROPRIATELY DESTROYED. PREPARE AND SUBMIT ANNUALLY TO THE RECORDS MANAGEMENT DIVISION A RECORDS HOLDING REPORT. The agency Records Officer is expected to review their agency’s records and determine which ones are due for destruction. When records have reached the end of the retention period and the records are subsequently destroyed, a Certificate of Destruction Form must be submitted documenting the destruction. This form documents the destruction date, record series, RDA number, date range for the records, volume destroyed, and destruction method. If records are destroyed off‐site by the SRC, they will provide the Certificate of Destruction. Records Management maintains all of the CRD’s and uses this information to monitor the record destruction process to ensure compliance with RDA requirements and statewide policies. Maintaining certificates will also help with the Records Holding Report. This report provides important data for the Records Management Division, including but not limited to active and inactive records storage and disposal projections. This gives a snapshot of record growth and reduction and can help with future storage space planning. In addition, the agency can use the Records Holding Report to determine overall cost for the management of the agency.
RECORD KEEPING TECHNOLOGIES REALLYGREATSITE.COM PAGE 02 A recordkeeping system is a shared filing system where records are captured, organized, accessed, protected, retained, and destroyed in accordance with approved records schedules. A recordkeeping system is about more than technology. In order to make it an appropriate system for managing paper or digital records, it also needs to be used in conjunction with policies and procedures, defined roles and responsibilities, and ongoing training. WHAT IS RECORD KEEPING TECHNOLOGIES ? Technologies for record keeping are essential for the effective management and preservation of records in organizations. Over time, these technologies have changed as a result of developments in digitization and information management techniques. Systems for managing electronic documents (EDMS) have become increasingly popular as a way for businesses to switch from maintaining records on paper to doing it digitally. Electronic records can be collected, saved, organized, and retrieved using EDMS software. It offers functions like version control, indexing, metadata management, access controls, and search capabilities, which make it simpler to find and efficiently manage records. Additionally, EDMS streamlines workflows, encourages user engagement and assures regulatory compliance. Another important record-keeping tool that is frequently utilized for the preservation of structured data are databases. Relational database management systems (DBMS) provide strong capabilities for structuring records and querying them. These systems are capable of managing enormous amounts of data, ensuring data integrity through the ACID (Atomicity, Consistency, Isolation, Durability) features, and facilitating the quick retrieval of specific data using query languages like SQL.
Improved Efficiency: Electronic recordkeeping can enhance efficiency by streamlining processes such as data capture, storage, retrieval, and dissemination. It reduces the reliance on manual paper-based systems, allowing employees to access and manage information more quickly and easily. This leads to improved productivity and time savings Enhanced Accessibility and Searchability: Electronic records can be easily accessed, searched, and retrieved using appropriate keywords or metadata. This accessibility allows employees to locate information faster, which promotes better decision-making and responsiveness to inquiries or requests. It also facilitates information sharing within and across departments. Cost Savings: Electronic recordkeeping can lead to significant cost savings over time. It eliminates the need for physical storage space, reduces paper consumption, and minimizes the resources required for manual record management. Additionally, electronic records can be easily duplicated and backed up, reducing the risk of data loss. Increased Data Security: Electronic recordkeeping systems can provide robust security measures to protect sensitive information. Access controls, encryption, and audit trails can be implemented to ensure data integrity and confidentiality. Regular backups and disaster recovery plans can also be established to mitigate the risk of data loss . Improved Compliance: Informationintensive agencies often have to comply with various regulatory requirements, such as data retention and privacy regulations. Electronic recordkeeping systems can help enforce compliance by providing mechanisms for record retention schedules, audit trails, and data protection measures. This can reduce the risk of non-compliance and associated penalties. Transition Challenges: Implementing electronic recordkeeping systems may come with certain challenges. It may require significant upfront investment in technology infrastructure, software licenses, and staff training. The transition from paper-based systems to electronic systems might also involve a learning curve for employees, which could temporarily impact productivity. Data Privacy and Security Risks: While electronic recordkeeping can enhance data security, it also introduces new risks. Agencies need to be vigilant about protecting electronic records from unauthorized access, data breaches, or cyberattacks. Adequate security measures, employee training, and regular system updates are crucial to mitigating these risks. REALLYGREATSITE.COM PAGE 04 THE EFFECT OF ELECTRONIC RECORD KEEPING
CHALLENGES FACING THE IMPLEMENTATION OF ELECTRONIC RECORD-KEEPING Lack of consultation: Insufficient involvement of stakeholders and users in the decision-making process and system design can lead to resistance or lack of user adoption. Power outages: Frequent power outages or unreliable electricity supply can disrupt the functioning of electronic recordkeeping systems, causing potential data loss or system downtime. Security and privacy protection: Ensuring the security and privacy of electronic records is crucial to prevent unauthorized access, data breaches, or information leakage. Technological barriers: Limited technological infrastructure, outdated hardware or software, and compatibility issues can pose challenges to the successful implementation of electronic recordkeeping systems. Low Internet penetration: Inadequate Internet connectivity or low Internet penetration rates can hinder the accessibility and functionality of electronic recordkeeping systems, particularly in remote or underdeveloped areas. iDigital divide issues: Disparities in digital literacy, access to technology, and IT skills among different user groups can create challenges in implementing electronic recordkeeping uniformly across the organization or society. Skilled manpower shortage: Insufficient availability of trained personnel with expertise in electronic recordkeeping can impact the effective implementation, management, and maintenance of the systems. Corruption and bribery: The presence of corruption and bribery practices within an organization can undermine the integrity and reliability of electronic records, highlighting the need for strong governance and ethical practices.
MANAGEMENT SKILLS FOR RECORDS MANAGERS AND ARCHIVISTS THE MANAGEMENT SKILLS the value of these skills for personal professional development and organizational advantages in delivering services, ensuring excellence, promoting responsibility, and ensuring transparency in archive and records management units. Identifying management skills for archivists and records managers. Corporate and strategic planning. Effective project management. Resource management, including financial resources. People management. Performance evaluation and accountability WHY SKILL & KNOWLEDGE IMPORTANT IN RECORDKEEPING records professionals need to be equipped with skills that enable them to contribute effectively to the electronic working environment. Records management requires discipline and creativity, and professionals should possess greater knowledge and competence than before
Functional Requirements in electronic records management MAINTAIN: To ensure ongoing accessibility, records captured in electronic records management systems must be actively maintained. This involves safeguarding the records from unauthorized alteration of metadata and ensuring their integrity and preservation over time. CREATE: As stated in ISO 16175 [25], functional requirements apply to records regardless of their medium. Electronic records management systems play a crucial role in capturing, classifying, and identifying records to ensure that their content, structure, and context of creation are appropriately documented in terms of time and space. 123 Anywhere St., Any City, ST 12345 www.reallygreatsite.com [email protected] 123-456-7890
MINIMALIST DECORATION Business records management encompasses the systematic and efficient collection, organization, maintenance, and disposal of an organization's records. In an era characterized by massive information development, organizations face numerous obstacles in managing data effectively while adhering to applicable regulations, ensuring accessibility, and embracing digital transformation. Effective management of business records is crucial for a number of factors. Initially records serve as a historical record of an organization's activities, enabling informed decision-making and the transmission of knowledge. In addition, records offer protection to the organization by providing legal evidence in disputes and regulatory searches. You have to grow as your business grows SITI NOORIZZATI IMR652 ELEK A SITI NOORIZZATI
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C H A LL ENGE S IN BUSINE SS SITI NOORIZZATI IMR652 ELEK A R E CO R D MANAGEMENT The proliferation of digital technologies has resulted in a data explosion, making it difficult to manage the immense quantities of information generated by contemporary business operations. Today, businesses collect and maintain more data than ever before, including emails, documents, social media interactions, and transaction records. Effective records management is hampered by the absence of well-defined information governance policies and frameworks. Organisations fail to establish thorough guidelines, protocols, and procedures for the creation, classification, retention, and destruction of records. Increasing reliance on digital records management exposes businesses to a variety of security and privacy hazards. Cyber threats, such as data breaches and hacking attempts, have devastating effects on businesses, including reputational harm, financial losses, and legal repercussions.
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CHALLENGESIN BUSINESS RECORD MANAGEMENT CHALLENGESIN BUSINESS RECORD MANAGEMENT It ensures that someone is responsible for managing the organization's record management programme and ensuring that records are managed consistently and in accordance with the organization's policies. The individual who responsible for record management should have the authority to make decisions regarding record management, such as which records should be created, stored, and discarded. Assign responsibility for record management The training should encompass the organization's record management policies and procedures, as well as adapted to the organization's unique requirements. For instance, if the organization employs a specific software application for record management, the training should cover how to use that application. The training should be conducted frequently, and it should be updated as the requirements of the organization change. Training employees on record management Regularly update records management policies To ensuring that the organization's record management practices are current and efficient. This is because the organization's requirements may evolve over time, necessitating periodic revisions to its policies. For instance, the organization may adopt new software for record management or be subject to new legal requirements. In such instances, the policies must be revised to reflect the changes. Technology to automate record management tasks There are numerous technologies for example document management systems which are software applications that can be used to manage, store, and monitor electronic documents. They can automate a variety of duties, including indexing, classification, and retrieval of documents. By using technology to automate record management tasks, businesses can free up employees to focus on other tasks, such as generating new business. SITI NOORIZZATI IMR652 ELEK A
CONCLUSION In conclusion, effective business records management is crucial for organizations to maintain accurate and organized information. There are various types of business records, including financial statements, invoices, contracts, employee records, and customer data. These records serve as a valuable source of information for decision-making, regulatory compliance, and legal purposes. Different types of business organizations exist, such as sole proprietorships, partnerships, corporations, and limited liability companies (LLCs). The type of organization chosen impacts factors such as ownership structure, taxation, legal liabilities, and record-keeping requirements. Criteria for maintaining records include accuracy, completeness, consistency, reliability, and relevance. Adhering to these criteria ensures that records provide a true representation of business activities and facilitate efficient retrieval and analysis. Systematic record-keeping practices have a significant impact on an organization's operations, including enhanced decision-making, improved compliance, reduced risks, and increased operational efficiency. Business records management comes with its fair share of challenges. Some of these include inadequate storage space, data security concerns, compliance with changing regulations, retrieval difficulties, and the risk of data loss or unauthorized access. However, there are solutions to overcome these challenges, such as implementing digital record-keeping systems, employing robust data security measures, conducting regular audits, and establishing clear record management policies and procedures. To achieve best practices in business record management, organizations should establish a comprehensive records management program. This program should include guidelines for record creation, classification, retention, retrieval, and disposal. It is essential to have a designated records management team or personnel responsible for ensuring adherence to these practices. Regular training and awareness programs should also be conducted to educate employees on the importance of records management and proper handling of records. Technological advancements have greatly influenced record-keeping practices. Recordkeeping technologies, such as electronic document management systems (EDMS), cloud storage solutions, and data analytics tools, have revolutionized the way businesses manage their records. These technologies offer benefits such as enhanced accessibility, searchability, collaboration, and automation, thereby streamlining record-keeping processes and improving overall efficiency.
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