Handling Data The Correct Way

Information management is the process of maintaining business documents in a proper and orderly manner

. Due to the enormous amounts of data processed in the daily operations of an organization, it is important for each entity to have its own information management system, regardless of the size of the company or the volume of its transactions. Information management consists of four processes which are classification, storing, backup and archiving of business documents and data. Each of the process is vital in ensuring that your business information is kept confidential, yet easily accessible when needed.

In the first stage, documents and data are classified according to their categories. Some of the common categories include financial data, human resource data and minutes of meeting. Every department or personnel will be in-charge of a certain category of data. For example, the finance executives will be in-charge of recording financial information into their accounting software. On the other hand, human resource executives will be responsible for monthly payroll and claims processing. Segregation of duty is essential to prevent collusion and to ensure data will be processed in a proper manner.

Next, the data will be stored into their respective systems or software. Financial data will be entered into the PC and stored within the accounting software in the system. Hardcopy financial documents like invoices and sales orders will be numbered and stored in neatly in the company"s document room. As today"s businesses are growing internationally, it is important to ensure that data can be accessed from all around the globe. Web document management is the way to make data accessible worldwide. By storing data onto the Internet via cloud computing, subsidiaries and related business entities can access each other"s data no matter where they are located.

The third stage of information storage is data backup. Conventional backup includes storing data into external systems to ensure that data is still available even after several years. Backup and deletion of data will also speed up your PC to ensure faster and better performance. Through web document management, data and information is stored online to ensure the safety of the data even if there are blackouts or system downtime. Web document storage will also protect your data from physical harm like natural disasters or robberies, as the data is stored on the World Wide Web.

The final stage is the archiving of old data. Data which are over five years of age can be disposed if it is deemed to no longer be of use. Nevertheless, it is always safer to store a copy of old data just in case it is needed. Hardcopy documents should be scanned and stored away as it might eventually be used in the future. Archives and records management is important to ensure old data are not destroyed unnecessarily. Most companies have a strict document destruction policy to ensure that staff do not shred or incinerate documents without permission.

Information management is vital to the success of any organization. A lack of data management might prove to be costly to your business. Therefore, always invest in the right personnel, systems and policies to ensure your data is kept confidential and safe.

by: GraceRecords

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