Trends in Records Management in 2023
Records management (RM) trends have become increasingly important. Tracking records management trends is necessary for organizations to stay updated with the latest technologies. But it is not just about being up to date but also about being more efficient in an increasingly critical, fast-paced work environment. Watching trends is a good way for records managers to understand what might be coming their way regarding tech, laws, and mandates. Records can be challenging to maintain as business unit professionals sometimes mistake RM as interference. However, complying with legal mandates can be positioned as an organizational advantage, such as saving the potential cost of non-compliance, and records can be managed transparently.
Adopting technology to support management, compliance, and other organizational requirements- Records managers increasingly see the value in cloud-based ECM systems to improve the efficiency and accuracy of record keeping. This is critical in this era, especially when governments must secure sensitive information. Cloud-based systems are especially valuable to smaller organizations that lack IT staff. Increasingly our clients are automating their retention schedules and record classification. This automation ensures consistency, accuracy, and audit.
Records must be managed proactively, not reactively- This proactive approach is vital because it helps keep up with the changing world. It also helps to ensure what must be done with old records and their dispositions. It also mitigates organizational risks by providing a clear, documented understanding of what needs to be done with these old records and their final disposition and proof of the final step.
An increasing amount of regulation is forcing organizations to re-examine records management. The increased focus on compliance with records management laws and regulations may include the General Data Protection Regulation (GDPR) in Europe and the Health Insurance Portability and Accountability Act (HIPAA) in the United States. Increased compliance is needed because the number of data breaches is increasing. Data breaches are the result of a security breach on a company’s computer system that leads to the theft or loss of sensitive data. The increased requirements for compliance with GDPR and other privacy laws have led to more security breaches.
Organizations need to back up their records on a timely schedule to preserve records in the event of a disaster or hack. Business records are the essence of any business operation, and you don’t want to be in a place where your most important asset is lost when you could future-proof it with low-cost technology. At CPS, this trend is reflected in the growing interest in Trusted Systems.
The emergence of new technologies, such as blockchain, which have the potential to revolutionize the way records are managed. Blockchain uses a distributed record-keeping system called a ledger that keeps track of changes to assets within the chain. Our Trusted System partner used blockchain technology.
Organizations need to stay abreast of the latest records management trends such as those above to stay updated about the latest technologies and how they could improve their operational flow.