Securely streamline your records management processes
Back to articles

Securely streamline your records management processes

Business Document’s life cycle

Nowadays, companies are facing the toughest regulations they have ever seen. Indeed, such legislation is emerging all around the world. Now has come the time to revolutionize companies’ retention strategy, which inevitably involves Electronic Records Management (ERM) and Records Information Management (RIM).

Business Document’s life cycle

Business Document’s life cycle

What is it all about?

Business documents have a life cycle divided into different stages, which often ends with documents’ deletion. For many departments, documents remain under specific regulations and must be kept a certain amount of time:

Why records management is important?

As previously said, companies must keep documents depending on their type, and their repository should comply with government regulations, agreements with stakeholders, or simply the company’s retention strategy. Indeed, companies should not unnecessarily keep documents archived; it costs a lot of storage space, and they could be penalized by retaining a document too much or not enough time.  Therefore, records managers have to check that documents are removed in good time to avoid legal risks.

Besides, when records management is electronic-based and automated, it benefits companies in many ways. Not only it simplifies records retention processes, but it also centralizes all relevant documents so that they can be easily found, without letting people not allowed to modify anything. But above all, it generates significant cuts in costs by avoiding expenses on extra storage space, or even physical drawers and filing cabinets. Additionally, the time saved provides records managers with great efficiency.

Benefits of electronic records management (ERM)

ERM systems offer a number of benefits to businesses, including:

Our DMS offers a powerful life cycle feature

In just a few steps, records managers can effortlessly deal with documents’ retention with Open Bee life cycle module:

ERM systems are essential for businesses that want to improve compliance, reduce costs, increase efficiency, and improve the security of their records. Open Bee’s DMS offers a powerful life cycle feature that makes it easy for records managers to implement and manage retention rules.

A question about our management tool?

Contact us

Learn more about our DMS