As the volume of records and information continues to grow as organisations mature, it becomes increasingly important and challenging for enterprises to manage their recordkeeping responsibilities effectively. Choosing an effective records management system is an important and crucial step in this process.
With many different records management solutions available in the market with their own set of features and capabilities, it can be difficult and daunting to choose the right one for your business. To assist with your decision making process, we have provided some tips that will help you select the right records management solution for your business. First we’ll cover off what a records management system is.
What does a records management system do?
The primary objective of a records management system is to provide a single, comprehensive solution that aids in tracking, locating, maintaining and disposing of organisational records, whether they are paper-based or in electronic form. Nowadays, records management systems are available as cloud-based or on-premises.
Micro Focus Content Manager is the most readily used records management software worldwide that helps organisations solve the complexity of records management. This system is ideal for heavily regulated organizations and industries.
How is a records management system classified?
Generally, records management software falls into two main categories; records management software or an enterprise content management (ECM) system which is less records focused and more of a content management system, as its name denotes. A records management system (RMS) will have greater functionality relating to the classification, retention and disposal of information.
How is an RMS different from ECM?
A RMS is designed to enable the various facets of enterprise records management. This software includes record tracking, automated retention, disposition of records and access control for physical as well as electronic formats.
ECM systems are built to assist organizations with capturing, storing, managing, delivering and preserving its files and content. A complimentary information management strategy will assist organisations in managing their unstructured information.
An electronic RMS simplifies the management of records throughout their lifecycle. A records management application assists with the automatic implementation of organization-wide and consistent records policies, which simplify compliance with state, industry and federal regulations.
Another basic difference between an ECM and RMS is their capacity to enable retention of records and disposition procedures. In this respect, an RMS system takes the top position.
Characteristics to look for in a records management system
There are a number of important characteristics to look for when choosing a records management system, including a system that:
- Is intuitive and user friendly
- Automatically captures and classifies records
- Won’t change the way your teams works and will capture records regardless of their location
- Manages content across repositories
- Can manage physical, digital and hybrid records
- Captures email and social media records
- Offers a high level of security
- Provides an audit trail
- Is compliance with federal and state based standards and policies
A comprehensive, high performance records management system is a crucial component in the lifecycle of organizational information. At a high level, this system governs the way business information is developed, stored, distributed, tracked and protected.
Before you search for the right software solution for your business, it is important to understand your own business requirements with respect to records management. Having this understanding will equip you well as you begin to assess your RMS options.