Records Lifecycle: A comprehensive guide

Considering that data is perhaps the most valuable resource for organizations, it’s safe to say that efficiently storing and managing the vast amounts of data generated is crucial. Especially when it comes to businesses like financial services, government bodies, etc., the information the records contain may be confidential and potentially dangerous to the organization in the wrong hands. However, while it’s essential to maintain the records correctly, they have a lifecycle, and it’s important to be aware of the same for efficient management.

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Start to finish: The lifecycle of records

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Creation: When the need arises for a record to be created, it must be done in a way that benefits the organization in the best possible way and offers maximum utility value. Ensuring that the records created are reliable, relevant, and accurate is paramount, irrespective of whether they are emails, office documents like presentations or spreadsheets, transaction invoices, or any other document.

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Storage: Perhaps the most important part of the lifecycle of a record, proper record storage is key to good maintenance and operational efficiency. Storing records appropriately will ensure that they can be accessed easily without hassles when required, regardless of how old they are. While some records needn’t be stored, others like customer data/preferences, financials, legal records, etc., need to be stored securely since they contain confidential information.

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Destruction/archiving: When a record is no longer of use, it must be destroyed, but the destruction must be done correctly. A proper record destruction method will ensure the data doesn’t fall into the wrong hands.

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Bottomline

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Building a sustainable, robust, and efficient record management system is one of the keys to success for organizations. To focus on their core business, companies should outsource their record management to reliable third-party platforms.

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For instance, Securus Records Management has over 15 years of experience in the record management industry and offers end-to-end security of documents for businesses across the globe. From storing documents to governance and shredding, the platform’s range of services and hassle-free record management facilities make the day-to-day operations of organizations easier, secure, and cost-efficient. To know more about this, visit https://www.securus.co.in/ or contact [email protected].