Record retention is important for every business. Depending on the industry, enterprises are required to retain a variety of documents in adherence with regulations and destroy them on a schedule. Individuals also need to think about record retention and dispose of personal information properly.
Every organization that stores health and medical records on behalf of patients must adhere to HIPAA regulations. The regulations specify which records must be stored, which security measures must be taken, and when records must be destroyed.
Every company has a responsibility to keep accurate accounts. The Sarbanes-Oxley Act of 2002 dictates specific record-keeping and accounting requirements. Failure to comply with them can lead to legal penalties as well as damage to your reputation.
Properly indexing, storing, and destroying documents according to regulations can be a time-consuming task. Many companies struggle to keep up, and yet, the cost of improperly storing and destroying documents can be astronomical.
Records and Information Management, or RIM as we call it, is an essential part of keeping your valuable business records and data secure. It’s not uncommon for companies to make mistakes when managing their records due to carelessness or inexperience.
Everybody who lives along the Gulf Coast knows that it pays to be prepared for a weather-related disaster. In recent years, hurricanes have ravaged both southern Florida and the panhandle, destroying buildings and causing extensive flooding.
Managing business records can be a full-time job, especially if your company is required to comply with HIPAA, FACTA, or Sarbanes-Oxley regulations. For that reason, paying for secure business records management may actually save your company time and money.
For some, document management might seem like a luxury and not a need. You might wonder the reason for seeking records management services when organizing, storing and disposing of documents could take place in-house. To answer this question, business owners don’t have to look much farther than a colleague's cluttered storage closet, or, even worse, their own disarray of boxes and loose papers.
Believe it or not, the third quarter is around the corner. As a business owner or manager, now’s the time to finalize your business plan for the quarter so you can work toward meeting your financial goals in the second half of the year. That could mean ramping up your marketing efforts, making any necessary cuts, or increasing process efficiency.
When it comes to office organization and processes, sometimes it’s smarter to trust the experts. Sure, you could handle your own document storage and compliance responsibilities, but it’s often inefficient and, ultimately, costly.
