A Record Retention Schedule is Part of Regulatory Compliance
As part of your records management system, you should have a record retention schedule. This schedule is a well-defined enterprise-wide plan to manage data privacy and internal controls for all records, regardless of media type. The retention schedule sets policies in place on how documents are created and the length of time that is legally and functionally required before destruction, ensuring that inactive records are being purged on a regular basis following record management and document destruction guidelines. We provide free initial consultation about retention schedules to businesses in Billings, Missoula, Great Falls, Bozeman, Butte, and throughout the state of Montana.
Why Do You Need A Record Retention Schedule?
Record retention schedules ensure an organization meets the legal requirements over the life cycle of documents, from document creation to document destruction. The retention schedule addresses issues of document creation, such as the categorization of documents for controlling documents from active to inactive status, in addition to providing document destruction guidelines. An effective records retention schedule will provide legal and regulatory protection and stabilize the growth of records in all formats.
Not having a records retention schedule in place can hamper the ability of your organization to function properly for employees, customers, and regulatory institutions. If your business is holding onto unnecessary records, it creates a problem for employees that have to search for and retrieve active records that are needed for reference or legal reasons. For customers, if you are unable to locate a record then it could cause anything from bad relations to litigation. Finally, not being able to provide records or show that records have been properly destroyed can put you out of compliance with many regulatory institutions. Keeping a reliable retention schedule and following proper document destruction guidelines are necessary procedures to ensure the quality of your business.
Contact Us for Help Creating a Record Retention Schedule
Determining how long to keep records and when to destroy them necessitates the creation and execution of retention schedules. Our professional information management consultants are here to help businesses in Billings, Missoula, Great Falls, Bozeman, and Butte. We will develop a record retention schedule and help you follow document destruction guidelines within one department, company-wide, or wherever your needs are. For more information, give us a call at 1-800-803-1083 or send us a message today.