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Jan 2023 - RMS_ Why Investing In Records Management Is A Smart Choice

What role does records management play in your business? An integrated add-on, a necessary evil with few tangible benefits, or is it something you should consider? Find out more about the importance of records management in business operations, its strategic value and how it can help save time, money, space, and effort and reduce risks.

 

Compliance

One of the most prevalent reasons for introducing records management into an organisation is to comply with regulations, laws or policies. If you’re running a limited company, records and documents must be kept for 6 years from the end of the last company financial year they relate to, or longer. Find out more here. Non-compliance can result in regulatory fines, penalties, business disruption, legal settlements and more. 

 

Risk reduction

Having an effective records management system ensures that the risks of litigation, penalties, ransomware, mishandling, deletion of data or theft of data are greatly lessened. Documents must not be stored in a humid or wet environment, which may cause deterioration and away from pests and rodents that could harm their quality. With Cube Records Management, we ensure that your legal records and confidential documents will be kept safe and sound within reach and with door-to-door delivery and retrieval service whenever you need them. 

Cube Records Management also offers secure and confidential record destruction and shredding service. By clearing out redundant paperwork, you effectively create more room for your business and lower the possibility of private information getting into the wrong hands and compromising GDPR regulations. 

 

Increase productivity and save time and money

In the absence of an organised system for storing documentation, a significant amount of time and cost – associated with employees searching for records, or recreating the record if it cannot be found – can negatively impact on business savings and employee productivity. A well-managed records management system ensures a better end-user experience when looking for content and lowers operating costs. Investing smartly in document storage also reduces content ROT (redundant, outdated, trivial content) preventing unnecessary paperwork taking up precious space in the office.

 

Promote business growth and changes

An organised system allows business owners to identify records that have permanent or historical value to the organisation and offer a deep insight into the company’s past helping inform the future. Knowing how stored information informed policies and practices in the past, helps businesses make more informed decisions and develop effective policies further down-the-road.

 

One of the most prominent challenges in evaluating the benefits of proper Records Management is the inability to translate any investment into hard costs and cost savings. However, it is definitely an indispensable part of a company’s structure that aids growth and profitability. It helps record knowledge, save time and increase productivity as a whole.

 

Interested? Contact us on 0800 027 2668 and let Cube Records Management help your business today!

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