RECORDS MANAGEMENT

Records Management involves the formation of procedures and policies for the official disposal of documents and electronic data. Policies include the establishment of formal procedures to track and document destruction processes, along with an action plan outlining steps taken during the destruction process. Companies develop destruction plans for a variety of reasons. Chief among these reasons include, avoidance of financial risk from potential litigation or fines stemming from client damage or non-compliance with government regulations. Corporations that decide to institute a data destruction strategy should utilize an approach that seeks a narrow definition of compliance rules, followed by a clear outline of guidelines and procedures for Line of Business units to follow. The development of an effective data destruction policy should be given as much thought and consideration as those policies guiding actions for data archival. Data destruction is the end process in the cradle to grave continuum of records management known as Information Lifecycle management.