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July 6, 2011 / Frank J. Albi

Will Outsourcing Records Save Your Company Money?

Managing internal business records is something every organization must do.

But handling such a crucial business function according to best practices? That’s something organizations of all sizes struggle with–particularly if they keep records management in house. After all, dedicating resources and attention to a part of your business that’s not a strategic focus can get expensive. It can also cause you to take your eye off the ball, forcing you to spend more time on your records than your mission. Unfortunately, failure to spend enough time on managing internal business records can have serious legal and financial consequences.

You might already be outsourcing other business functions like accounting, advertising, or website hosting. Many businesses have discovered that engaging an outside firm to provide records control service not only reduces risk and liability, but is no more expensive than hiring an outside plant service. Would outsourcing your current internal records management be a smart move?

To decide, ask yourself these questions:

  • Do your records management processes deliver a unique value to customers and stakeholders?
  • Have you optimized your records management processes or is it just the way it’s always been done at your company?
  • Do you use best practices and best-in-class technology?
  • How much does it cost to maintain the resources—including staffing, technology and processes—devoted to records management throughout the company?
  • Are you satisfied with your current process regarding efficiency, cost, quality and convenience?
  • Could your organization benefit from moving the resources currently invested in records management to more mission-critical tasks?
  • Could outsourcing reduce your costs and risks, improve flexibility and agility, and free up resources to accelerate growth?

Based on the answers to the above questions, you have to decide if the pros of “going pro” with records management are worth it. Some of those benefits include:

  • Staying compliant with current state and federal rules and regulations
  • Automating systems to save time and money
  • Digitizing and disposing of records to maximize efficiency and minimize risk
  • Being “records-ready” for potential mergers and acquisitions
  • Reducing the cost and inefficiency associated with misplaced or lost critical information
  • Innovating with new ideas and technologies you might not have thought of on your own

After evaluating all these questions and considerations, you should be ready to make an informed decision on how to handle your records management. If you have any questions about what to look for in a good records management company, please get in touch with us.

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