Why Is Records Management Important? Part 3

It Improves Compliance

With rapid enhancements in technology changing the way businesses receive, send and manage information, it has been necessary to introduced new or update existing regulations such as GDPR & 2018 Data Protection Act to ensure businesses protect this information from misuse, criminal activity, privacy, etc.

For companies that need to comply with these regulations, good records management helps ensures compliance with them. It makes the creating and storing of records in a complaint manner intuitive, so businesses are less likely to misplace, destroy or improperly store those records that may be required.

Should a need for a record come up, such as during an audit, subject access request, legal action, etc. it will be easy to retrieve because it’s stored in a logical place and manner. In this way, good records management helps businesses avoid fines and penalties that come from improper regulatory compliance.