What is a Record Management System and what are its benefits?

May 16, 2022 • By Fritz Domagtoy


Because of voluminous and large number of transactions across industries, businesses and governments around the world, people are constantly on the lookout of the most effective and efficient tools to organize documents and files, to easily retrieve the organization’s data and information, to ensure better and faster external and internal compliances, to protect data from loss and fraud and to manage significant risks. Now more than ever, management of these valuable records are just as significant as any other processes because it assists management in strategic planning and business continuity aspects.

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The administration of records for an organization across the records-life cycle is managed by a records management system (RMS). The generation, preservation, and destruction of records, as well as the business transactions related with them, are all controlled in a systematic and efficient manner by this management.

Why do businesses, schools, organizations and even governments need a good record management system? Having a good and reliable record management system comes with a lot of benefits. Record Management Systems ensure that important historical, fiscal, and legal data are recognized and preserved, while non-essential records are discarded in accordance with a set of norms and applicable regulations. Thus, data that is superfluous is removed.

Organized files and documents in the record management system reduced the time spent in retrieving such data thereby saving the resources needed and gradually increasing organizational productivity and responsibility. Employees involved in the retrieval of this information can now focus on more productive and results-oriented tasks rather than spending more of their time looking for such records.

The creation of such records is governed by the organization’s norms, internal and external regulations. A good record management system ensures immediate compliance of these regulations and reduces the litigation risks. Employees are less likely to forget or store papers incorrectly since it makes generating and saving documents intuitive.

Every organization, public or private, needs a methodical approach to safeguarding critical records and information from tragedy or theft. The integrity and confidentiality of essential records are preserved and safeguarded using a record management system. Unauthorized users are prevented from interfering with sensitive and important records. A more advanced record management system allows flexibility in the access depending on the role of the users of the organization.

Lastly, a good record management system aids in greater governance and business decision-making by enabling easy and better access to key records. Past records and data are vital information that will help management come-up with strong company strategies and directions and assist them in establishing risk management policies especially in the areas of finance and accounting. Having a reliable and complete accounting solution will enable seamless decision-makings in different levels of the organization. Check out AccuBooks Accounting and ERP System at https://accubooksystem.com/ as it has an incredible record management feature allowing users to upload supporting documents and making retrieval of data a lot easier.


 


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