Monday, 20 March 2017

Myths About Records Management You Should Know

Not only the internet, but even the offline world is infused with myths that linger around. It is very important that you don’t let myths linger in your mind, especially those related to records management.

Myth #1 - Records management is all about filing 

Filing is just one aspect of records management and storage. A good records management company will have a filing system that is well planned and rigidly designed with standard labelling conventions. Otherwise, an ineffective approach to the filing system will lead to events like loss of data and files.

Myth #2 - Records management only deals with offsite storage

Some still think that records management is only about some boxes covered with dust stacked in closets where no one bothers to take notice. This is not true in today’s time as a records management company helps store and organise a file the moment it is created. It helps you store files physically or electronically. A good records management company will help you with instant retrieval of a file regardless of its age or form.

Myth #3 – Records management is an expensive affair

When you compare the costs of services from a reputed records management firm to the costs of consequences that lead on due to natural or man-made mishaps, the charges are nominal. Absence of proper records management and storage can cause a business to shut down and get mired in complex litigation and penalties.

Contact our Document Storage Company for solutions from storage to shredding. 

Friday, 10 March 2017

Importance of Records Management for Finance Companies

Companies in the financial domain have to manage a large pool of customer data. Apart from business requirements, the records of account holders need to be aligned with various other parameters like local or state regulations which govern their usage. It’s, therefore, imperative for them to implement a proper financial records management system to prevent breach of customers’ data.

What benefits do finance companies gain from records management?

A reliable records management firm will help a financial organisation manage records (physical and electronic) from storage to shredding.
It helps a company to:

  • Maintain, as well as consolidate its clients’ account records 
  • Enhance employee productivity, efficiency and make banking collateral's more focused towards critical tasks 
  • Set up records retention schedules. This helps the company to classify all kinds of physical and electronic documents, thus implementing a reliable classification mechanism that helps the firm with instant identification and tracking of financial records. 
  • Improve productivity ensuring full compliance with transactional records and processes 
  • Keep a track of the necessary certifications and training records that need to be aligned for local or compliance laws 
  • Manage loan records, withdrawals and deposits with ease 
  • Cut down liability risks that involve transfer of physical records between two locations or branches 
  • Make the process of credit-giving smooth, and speed up loan provisions and effective decision making by giving bank managers instant access to client data and records

Contact us for comprehensive Records Management Solutions in Dubai