Good Morning Everyone,

I am trying to put together a bullet list (below) of the benefits of Records Management. I have it mostly finished, but it has some big holes in it. If anyone would care to, please insert any points that you feel I have missed. I do wish to minimize the duplication of points under multiple headings, so the structure of the thing and my choices of placement of which bullets under which headings are also open for comment.

Bullet list follows:

1.  Increases Efficiency and Productivity
a.      Staff have the information they need, when they need it

2.  Reduces costs
a.      Hard Costs Savings
  o       Office space and equipment, storage costs
b.      Soft Costs Savings
  o       Labor hours in finding information
  o       Labor hours in core tasks

3.  Reduces Risk
a.      Litigation
  o       Loss of case
  o       Fines for inability to produce documents (even if you haven't destroyed them)
  o       Fines for spoilation
b.      Federal or state audit
  o       Disallowing of deduction/payment of tax
  o       Interest on taxes owed
  o       Penalties
  o       Major Penalties

4.  Ensures Compliance
a.      Sarbanes-Oxley Act
b.      HIPAA
c.      OSHA Record keeping Requirements
d.      Federal and state statutes re: HR, Payroll, and corporate records
e.      Other industry-specific regulations
f.      Function-specific regulations

5.  Reduces Waste and Duplication
a.      Creation, distribution, and storage of duplicate documents reduced or eliminated
b.    Records are destroyed when they have no further value to the organization
c.      Eliminates costs to reproduce lost documents or information

6.  Protects Assets
a.      Important and vital records
b.      Intellectual property protection
c.      Physical assets inventory, valuation

Thanks very much for your help,
Gary Link, CRM
Corporate Records Manager
Astorino
227 Fort Pitt Boulevard
Pittsburgh, PA  15222
412.765.1700
412.765.1711 Fax
www.astorino.com

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