Regulation compliance and manageable electronic files are a growing concern for many organizations. For those that have yet to address these obstacles, it may be time to look into records management. You are, most likely, already managing your documents in some manner…but do these efforts support record management?
At first glance, document management and records management might seem like synonyms. However, contrary to popular belief, there are some stark differences between the two.
Document Management VS Records Management
Definition: Documents are defined as any structured or unstructed data accessed by employees in a company.
Management: Documents are generally managed in an Enterprise Content or Document Management system, designed to improve the access and management of documents.
Storage: Documents, as mentioned above, are usually managed in an Enterprise Content Management system. Doing so helps improve how employees access, alter, track, share, and manage files.
Automation: The primary benefit of document management systems is automation. Automation allows organizations to control a documents life cycle, security access, and features such as version control. It ensures that the proper actions are taken by the appropriate parties when required.
Security: Security features come part and parcel with document and records management. The main difference is that for documents, security is preferred. With records, document security is mandatory. Document systems have security measures surrounding accessibility, audit trails, versioning, etc.
Destruction: The issue of document retention will arise once a document is no longer required in a business process. This often results in destruction or reclassification as a record.
Definition: Records are designed to track the activities in regards to a company’s functions and policies. Records are often paired with strict compliance regulations regarding their access, storage, and destruction.
Management: Records management, on the other hand, is concerned with storing, maintaining, and managing data used to record events related to regulatory, operational, or fiscal activities. Records management is primarily focuses on the issue of document retention.
Storage: Records management requires that files are retained in their original format for legal and compliance reasons. Records management best practices call for files to be organized and indexed by external rules. Because of this, many companies choose to store their records offsite at a managed facility.
Automation: While records management does provide automation, it is to ensure that documents are being managed appropriately. This includes the preservation of content, context, and structure for long periods of time.
Security: Security standards for records management are dictated by the US Department of Defense. Systems compliant with the DoD 5-15.2 have set the standard for record management for files destined for the National Archives and Records Administration.
Destruction: Record destruction is most often regulated by law, laced with strict rules so that the information contained within is not disclosed to others.
While document management and records management are two sides of the same coin, there are plenty of differences between the two! Want to get your document and records management in order?
Contact us today to learn more!