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Solutions for ALL Businesses

Knowing the Difference Between Document Management and Records Management

8/26/2016

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Document management and records management are two different types of organizational techniques. All records are a type of document, but a document is not necessarily always considered a record. Therefore, your document management and records management systems can often work together.

What are Documents?
Documents have an active lifecycle, and the goal is to keep your documents secure, organized, and easy to access. A document is often editable and its contents may change over time, so the ability to share documents easily is important. Documents usually are not governed by laws or regulations.

Document Management
Document management is the system of storing and sharing a businesses document. For example, documents may be stored in file cabinets, online in a document management system, or at an offsite storage facility. The ability to efficiently retrieve, access, and modify these documents is the key to a successful document management system.

What are Records?
Records are official files that serve as evidence of an activity. An example of a record is anything that documents a business transaction—a contract, an invoice, a receipt. Records must be organized and tracked to follow specific industry compliance laws and regulations. One function of retaining records is to provide an audit trail for a transaction.
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Records Management
Records management is a system that will track the activity and lifecycle of the record including creation, receipt, maintenance, use and disposal. While records may be archived documents that are no longer in circulation, they still need to be easily retrieved for regulatory compliance. A records management system will also include a retention policy that defines how long a record must be kept on file and when it is appropriate for it to be destroyed.
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How a Strict Records Retention Program Can Enhance Your Company's Security and Profitability

8/19/2016

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Without a records retention program, a company leaves itself exposed to potential legal issues, regulatory noncompliance and unnecessary storage costs.

Regulatory Compliance
When it comes to establishing or updating a records retention program, consult your industry specific regulatory organization (such as the American Bar Association) for guidelines applicable to your business. For example, a private doctor's office may have different requirements than a large legal firm. When your records retention policy is clearly defined, followed, and documented, you can prove to regulatory organizations that you are adhering to proper guidelines and keep the threat of legal issues at bay.

Security
​When your documents are properly archived and stored, the risk of theft or loss decreases, as they are not in constant circulation. For an even bigger boost in security, consider storing your records offsite where they can be monitored 24/7/365 under closed circuit surveillance systems. R4 Service's document storage facilities are climate controlled, have constant backup power, and utilize state of the art fire suppression systems.

Profitability
The cost of extra storage space at a large warehouse facility designed for document storage can be much lower than additional square feet in a high-rent metropolitan office. This allows companies to still be compliant and keep records secure, without the skyrocketing real estate cost of extra office space. You'll see an increase in profitability as you reduce your property costs.
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3 Reasons Secure Document Destruction Can Improve Your Organization

8/12/2016

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Customer Confidence
Your clients trust you with their most personal information. For example, in the healthcare industry a client's medical history is very private. And a social security number is standard on many records. So when your customers hand over this sensitive information, they are engaging in an act of trust with you. You can prove you are worthy of this trust by being transparent about your information protection protocols. Let your clients know that once you no longer need their information, all files will be securely destroyed to ensure their privacy.

Reduces Threat of Corporate Identity Theft
It's not just your client's information that you need to protect, but your own company files as well. When documents are tossed in a dumpster or recycling bin, they are still accessible to thieves. However, if your documents are shredded, the information is rendered useless, and your risk of corporate identity theft is gone. And once documents are destroyed, you can still make a positive impact on the environment and recycle the shredded paper.

Meets Compliance Requirements
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It is important to understand the legal requirements of HIPAA, Sarbanes-Oxley, and other industry regulations and guidelines when it comes to documentation. We can help you to comply with these requirements, and ensure that sensitive information is safely, confidentially, and completely destroyed. We will also provide a certificate of destruction that guarantees our work.
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