Consult With an Expert Before Digging In

When you make business decisions, it's always a good idea to consult with an expert.  An expert could be anyone from a seasoned attorney, a medical expert or even a wise parent.  A 10 minute conversation can change your entire outlook on a subject matter, so much that you possibly change your decision.  Even if this isn't the case, there is always something to learn from an expert.  Just so you know, there are experts in managing and storing files as well!

Case and point - I began to work with a small legal practice a few months back that was interested in using Docu-Trust services (file storage, shredding, etc.).  It turns out that I received a call from the legal assistant who I had been communicating with all along, to tell me that she appreciated our most recent marketing campaign offer, but that they had taken a different route to manage their files.  As I asked questions and she gave answers, I was blown back at what I heard.  Let me share three quick things before continuing that will help you understand my perspective. 

• 90% of files that are put into storage are never retrieved again
• This particular legal firm has a file retention of 7 years, meaning they can legally shred their files after 7 years
• The firms current storage location is a self storage facility

Now, to continue with the answers I heard from the legal assistant.  She told me that they had decided to start scanning their files.  I thought to myself, "That's great.  This means less hassle with paper, easier and quicker access when they need files."  I proceeded to inquire about how they were going about it.  She said that they were going to the storage units every couple of weeks to pick up 3 boxes, loading them up in their personal vehicles and taking them back to the office to scan.  After finishing with the 3 boxes, they would load them back up in the car, return them to storage and pick up another 3 boxes.  This process would continue until all boxes had been scanned.  She then told me that the boxes would stay in the storage units until the 7 year retention period was up.  Then, the boxes would be destroyed.

In other words, files were being scanned, returned to storage and not destroyed/shredded.  They never referred to these files, so why take the time, effort and money to digitize them?  The files were not being shredded after being scanned, so why scan them if you already have a copy that you plan to keep...especially if you never refer to them?

I gave her some suggestions that would be less costly, more effective and more logical.  Whether this firm used Docu-Trust or not, doesn't matter.  What matters is that smart decisions are made with expertise and experience.  So, when you make business decisions, look for that expertise and experience, even when dealing with your documents. 

Reasons to Outsource Document Management

Countless companies have told me, and continue to tell me, that they handle their document management and storage internally. For some it works, for some it doesn't. It's important to consider what goes into managing documents when done both internally and when outsourced.

Files are recalled from storage for a number of reasons. Some of these reasons may include an audit, a medical record needed for litigation, or a closed court case being re-opened. There are costs involved in retrieving a file. The only difference is, when done internally, these costs aren't seen on a monthly bill from an outside vendor. Managers tend to be turned off by the idea of seeing a few dollars on a bill for a file retrieval. When an office employee is sent to the off-site storage site to retrieve a file, most of the time it costs more than a couple of dollars.

The point is that there are expenses incurred when managing and storing business documents. Whether they are line items on an invoice from a vendor or costs paid in wages, insurance and gas to your own employees. It appears to be less expensive for a manager when his/her employees do the work because he/she's not paying anything extra. What is being paid for is the hourly wage or salary, the liability involved, insurance, and lost production.

Here are some of the reasons to outsource your document management:

1)      You only pay for what you want

 You don’t pay for services you don’t use and we don’t provide services you don’t tell us to.

2)      Document management demands a specialist solution

 It’s hard to manage, track and accurately access thousands of files.  Docu-Trust is dedicated solely to managing business documents and therefore has in place the appropriate and necessary tools to make it easy for you and your staff.

3)      We work with you to meet your challenges

 Every business is unique and operates differently.  We understand that and work on solutions that are just as unique as you are.

4)      Chain of custody is vital

 It’s important to know where your documents have been and who is accessing them.  When they changes hands, you should know and understand the flow.  With any change of custody, we insure that your vital documents get into the right hands at the right time with a work order tracking system. 

5)      Hybrid solutions drive efficient document management

 We keep up with industry standards and their changes.  This allows us to manage your documents efficiently and easily.  The pressure isn’t on you anymore to make sure that things run smoothly.

6)      Give your workers control and hold them accountable

 Only authorized users within your organization have access to your files.  You can limit that access as much as you want.  This keeps information in the right hands, helps keep control and holds them accountable.  Authorized users’ names are linked with all transactions that they participate in, facilitating control and accountability.

  

What is Records Management?

Records management means the planning, controlling, directing, organizing, training, promoting and any other managerial activities involved with records creation, maintenance, use, and disposition. All of this is to achieve proper documentation in order for your business to run efficiently and compliant.

Objectives of Records Management

1. Accurately and completely document company policies and operations
2. Control the quantity and quality of records produced
   
3. Establish and maintain control with respect to records creation in order to prevent the creation of unnecessary records
   
4. Simplify the activities, systems, and processes of records creation and of records maintenance/use
   
5. Preserve and dispose of records in accordance with industry regulations
   
6. Direct continuing attention to records from their initial creation to their final disposition
7. Creates a chain of custody for handling confidential documents, assuring records are in the right hands at all times
8. Builds accountability throughout any organization by specifying record-handlers and the flow of records by those handlers
9. Systematic approach helps keep current with governing regulatory laws
10. Systematic approach allows for timely and accurate destruction of documents, which reduces time and storage costs

Without a records management program, these are some of the outcomes:
 
“Organizations without retention programs can often remove from higher-cost offices areas as much as 55% of records being kept there--as either obsolete (to be destroyed immediately) or inactive (must be retained but may be transferred to a low-cost records center ” (Robert Allerding, CRM, FAI, records management consultant).

“Because they have taken no inventory, most organizations have no way of knowing what all their information assets are and where those assets are located” (Information Management Associates, Inc. hereafter “IMA”).


“Keeping some records but not others beyond their scheduled retention can increase exposure to negative inference in audit or litigation" (TN).


“U.S. managers spend an average of 4 weeks a year searching for or waiting on misfiled, mislabeled, untracked, or ‘lost’ papers” (Cuadra Associates).

Records are not ignored when a records management policy is in place.  This attention to your business records allows for peace of mind and increased operational success.