Records Management is something your business does, even if you don’t realise it. When you send an email, or file away a letter from a customer, you’re processing information (records) in a structured or ad-hoc way. But records management can be expensive, especially when you’re not thinking about it. Here are three tips to help contain the cost of records management.

Managing Records Management Costs

Know What You’re Spending

If you’re using a dedicated records management provider, you (usually) know how much it costs you to store and access records as needed. That’s not always the case, though. When choosing a provider, always get a clear picture of the fees you’ll pay for accessing files, delivery, and shredding services along with the flat ‘storage’ fee. That, and a clear picture of how much you use those ancillary services, is essential to manage the cost.

Also remember that ‘in house’ records management isn’t free either. You’re paying rent – or a business loan – for the space that documents take up in your office. And often, that’s substantial.

  • Find out more: See the cost of on-site storage

Plan Deliveries in Advance

for obvious reasons, it costs less to have two files delivered at the same time than in two separate deliveries. A driver needs to cover less ground, and there’s less wear and tear on the vehicle. Equally, it’s less disruptive (and cheaper) to provide a scheduled delivery than an urgent dash to your office.

So, if you know in advance what documents you need, that will save you money on deliveries with any records management provider. That may require your colleagues to be more organised, of course, but that’s well worth it.

Don’t Keep Everything

The ‘hoarder’ mentality is easy to pick up – nobody wants to have destroyed that crucial file. However, it makes records management a lot more expensive. If you don’t destroy older documents regularly, that’s costing you money in storage fees every month. You may also need to pull up older documents if you get a Subject Access Request.

The smartest approach to records management involves planned and regular destruction of obsolete information. Set a destruction date in advance when sending files to storage, and keep the cost under control.

 

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