What is Records Management Software?
Electronic records and information management can prove useful across any industry where record-keeping and archival is a priority. However, it is extremely important for organizations that deal with document-centric processes and sensitive data, such as government agencies and insurance companies.
Organizations must adhere to rigorous schedules and regulations related to record-keeping and archival. Further, the rise of digitization initiatives across these organizations pose challenges, especially in anticipating the long-term impact of immediate steps and strategy.
Electronic records and information management is a unique approach to managing content, from creation to disposal. A robust system for records and information management is built on an integrated platform that allows users to capture, automate, classify, process, and view all types of content, ranging from physical documents and e-mails to social media content
What are the Common Challenges in Records Management?
- Lack of collaboration
- Insecure data storage
- Absence of data disposition
- High storage costs
- Loss of data
Lack of compliance
What are the Benefits of Implementing a Records Management System?
- Better accountability by maintaining the authenticity, reliability, and integrity of records
- End-to-end management of records, from creation to disposition
- Collaboration across departments
- Increased efficiency by reducing the dependency on paper
- Fast and easy access to information for better decision-making
- Higher level of security against unauthorized access to records and risk of tampering, corruption, leaks, and disappearance/loss
What to Look for in an Ideal Records Management Solution?
A Platform-based Approach
To keep up with dynamic business requirements, you must invest in a platform-based solution that is agile, future-ready, and has key capabilities, including artificial intelligence (AI)-and machine learning (ML)-based content classification, metadata generation, mobile-based access, and social content management
Adherence to Security and Compliance Measures
The system must ensure the authenticity, confidentiality, and integrity of records with comprehensive security capabilities. Furthermore, the system must comply with global standards and system certifications, including DoD 5015.02, ISO 15489, ISO 16175, VERS, and NRAA Oman
Advanced Technologies for Intelligent Automation
The solution must automate the end-to-end records lifecycle, from creation to disposition. Additionally, the chosen solution must be powered with new-age technologies, such as AI, ML, and robotic process automation, etc.
Collaboration Using Productivity Applications
While evaluating a solution, you must factor in its ability to enhance employee productivity and seamlessly cater to organizational requirements. Doing so will empower your users with the right tools to engage across geographies, access, and share documents instantly
Federation Across Multiple Systems
An ideal records management software must offer a unified view of information, while enabling your users to access, edit, and manage documents through productivity-focused applications like Microsoft SharePoint. Additionally, the solution should feature federated search capabilities, to search connected repositories and content management systems, from a single interface
Integration with Enterprise Apps
Your selected records management software s should integrate with other business applications, tools, repositories, and cloud storage systems through APIs and web services, ready-made adaptors, integration standards, and custom APIs. Additionally, it must support microservices and containerization-based deployments
Smooth Migration from Legacy Systems
The chosen records management solution must seamlessly adapt to your organization’s growth, evolving business needs, and future requirements. Furthermore, the solution must enable seamless migration and modernization of legacy systems and offer interoperability for efficiently delivering civic services
Hybrid Records Management
Manage the complete lifecycle of various types of records, including e-mails, physical, and electronic records while retaining their integrity and authenticity. Create and manage various classification schemes for records that help in easy search and retrieval
Intelligent Records Classification
Enable rapid digitization of physical content through scanning and intelligent information extraction. Leverage the power of AI and ML to classify records based on content for smarter classifications and metadata generation
Governance and Compliance
Ensure complete governance of data for compliance and regulations. Create labels and policies, such as retention, disposition, and storage to keep records complied to various regulatory standards
Seamless Collaboration with Productivity Applications
Manage records with a range of systems and facilitate real-time collaboration using business productivity apps, such as Microsoft Outlook, Microsoft Office 365, MS Teams, SharePoint, Google Docs, and more