What is Records Management?

What is document management? What is records management? Do you need both, or just one? And how do you know which is more valuable?

Making the decision to digitize your files is only the very first step. Figuring out which process best suits your business is the second. Many working professionals turn to records management immediately because it maintains a high level of security for important documents, which is incredibly beneficial to many professions.

What is records management?

The title can be misleading because records management isn’t just about the management of documents; it’s specifically putting together policies and standards for maintaining records. It has more to do with compliance than anything else. A well-established record management system helps a company avoid penalties from governing associations.

Records management deals exclusively with the types of documents being managed, and grouping like with like. For example, record managers are less concerned with the contents of an insurance record, and more concerned with insurance records following compliance regulations, and being grouped with other insurance records.

With this sort of precision, it’s no wonder records management is a necessity for many companies across all industries. Imagine contract management without the governance of compliance!

What’s the difference between records management and document management?

Document management revolves around the daily scanning and storage of specific documents. For example, a busy doctor’s office will need to manage the files of every single patient who comes through its doors for years to come. This office will need to have these documents in order and ready to call upon, so that when a patient comes for an appointment or check-up, his or her files are easily accessible. This is where document management comes in. An efficient document management system will scan, store, and protect patient files, freeing up your time and filing cabinets.

On the other hand, records management deals with policies. Lawyers will use records management to ensure their documents meet compliance regulations, their records are up to standard policy and ensuring there are strict procedures surrounding how to dispose of confidential documents. It’s keeping tabs on which documents and records are coming in and out of a firm, and confirming they’re being sorted into the right place.

Document management, contract management and records management work together to create a high-security, compliance procedure that keeps important documents and records safe.

How can I manage my documents?

Managing documents in a busy office can sometimes be more trouble than it’s worth. In fact, checking up on compliance procedures alone may take more time in your day than you’re willing to allot. Suddenly, your half hour break becomes ten minutes because you decided to do a little bit of research on records management.

Instead of cutting time out of your busy day to digitize and store files, why not outsource to a trusted document management company? DOCUdavit will be able to scan, store, and secure your digital documents easily. You understand the importance of online document storage and management; now, align yourself with DOCUdavit, Canada’s top document storage professionals. Contact us for a consultation!