There is no doubt that every manager and practitioner in the world of risk management is always challenged by the quality, completeness and up to date documents and records. These could be standard operating procedures, legal compliance records or documents required to verify performance of the business.
We shall also agree that to ensure these documents are up to date and maintained takes time and dedicated analysis to ensure accuracy. Technology assists with this process but with that it also brings certain challenges.
To this end it is necessary to determine the processes required for the management of electronic documents. This includes identifying the type of documents to be managed and their importance to the business.
The volumes of electronic documents and records that require management is growing due to an ever-increasing variety of combinations of hardware and software. It is essential that documents and records are managed in such a way that supports the management of the business and its core business activities.
Metadata should specify the minimum requirements that are necessary when operating a document management system to preserve the authenticity, integrity and readability of such electronic documents and records. Implementing these requirements help to demonstrate the authenticity of especially evidence required records.
Capture, Storage and Disposal
The authenticity of the documents created or received in the course of business activities should be well maintained. Capture processes should include, where necessary, the conversion into a data format appropriate for the storage and management of the information content. A document hierarchy is key to success.
These processes should include the conversion of all related metadata and other information necessary for monitoring documents. Capture processes should include the storage of documents into defined storage systems for each business section.
The following process is proposed for the storage and disposal of documents and records.
- Involve stakeholders,
- Account for existing records,
- Develop your management system,
- Provide training,
- Monitor and review, and
- Conduct an annual purge and disposal.
Horizon Risk Management is assisting clients to develop, implement and maintain sound management systems to mitigate the risk of loss, damaged and stolen records.
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