Records Management and Document Management are commonly confused. While they share some features, they are two different disciplines. Document management involves tracking and storing electronic files while records management includes document management, but with a stronger focus on archival, retention, and compliance issues.
Document Management Includes:
• Reducing lost and misfiled documents
• Providing faster search and retrieval of documents
• Reducing physical storage space
• Helping organize existing documents
• Improving organizational efficiency
Records Management Includes:
• Requirements of document management
• Identifying records in an inventory
• Applying required retention periods to stored items
• Identifying the owner of each records series
• Verifying the existence of a chain of custody and a proper audit trail
• Assisting in e-discovery issues and applying legal holds to records
• Administering records policies and procedures
• Managing the disposal of documents
• Preserving records throughout their life cycle