There are five essential requirements of effective records management:

• Retention: records must be retained long enough to meet both regulatory and valid business requirements.
• Accessibility: records need to be quickly accessible, particularly in discovery or investigation.
• Hold management: records and information required for investigation, litigation or audit need to be quickly identified and secured.
• Regulatory Tagging: records must be “tagged” to ensure requirements imposed on how a business must manage, protect and ultimately dispose of records. Data privacy laws are perhaps the most common example of this type of requirement.
• Disposition: corporate records are an asset to a point, and then they generally tend to become a liability and an unnecessary expense. The corporate records management program should address when and how the disposition of records and information occurs.

As straight-forward as these requirements are, many companies continue to struggle. If you are in this camp, we can help! Contact Jordan Lawrence.