Existing asset requires updating property records

Business records are operational—and sometimes strategic—assets. They have economic, legal, fiscal, risk-management, and competitive values.

Many organizations, however, lack effective policies and procedures for systematic control of their recorded information.

Common examples include: The creation, storage, retrieval, use, and destruction (or permanent archival retention) of information of all types and in all media is an increasingly difficult challenge for business and government organizations.

Despite the application of information technologies, the mounting rise of “paperwork” requirements continues to accelerate.

In fact, records management works all day every day for every unit in those organizations that adopt a comprehensive records management program.

These are the meanings familiar to IT managers.” “In records management, the term ‘record’ carries far heavier weight.

The International Organization for Standardization defines a record as ‘information created, received and maintained as evidence and information by an organization or person, in pursuance of legal obligations or in the transaction of business’” (ISO 15489).

This is particularly true in the area of digital information creation since employees may combine poor organizational skills with the capability of creating volumes of new business information independently of each other. Cost control is another major value since information storage costs can be significant regardless of media type.

Skilled management of information prior to a pre-authorized destruction date is a way to keep organizations from drowning in the volumes of information it produces on a daily basis.

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