Title: Records Management for Small Business Building a SmallSized RM Program
1Records Management for Small BusinessBuilding a
Small-Sized RM Program
- H. Larry Eiring, CRM, FAI
- Thomson Elite
2Todays Roadmap
- The Challenges for Small Business
- Compliance and Risk
- Designing an RM Program that Fits
- Resources
3Challenges for Small Business
- Limited financial resources
- Must focus on remaining solvent and competitive
- Staffing
- New compliance requirements
- Records is the LAST thing to think about
4The Small-Sized Records Program
- Scales to fit the organization
- Uses the resources available
- Ensures compliance
- Works with and without technology
- Is easily managed
- Requires basic records management knowledge
5Challenges Forcing Compliance
- Privacy and security of information
- California Privacy Act
- CAN-SPAM Act
- Management and preservation of electronic
information - Accountability for causing financial and other
disasters - Requirement for full evidence
6Focus on Compliance is Required
- New laws and regulations
- Sarbanes- Oxley (SOx)
- HIPPA
- Heightened liabilities
- Audit probability
- Insurability
- Legal and/or professional records management
advice is required
7Focus Areas
- SOx
- Accountants
- Insurance Agents
- Banking Officers
- Investment Officers
- HIPPA
- Doctors
- Hospital Managers
- Dentists
8Records and SOx
- The Sarbanes-Oxley Act makes corporate executives
explicitly responsible for establishing,
evaluating and monitoring the effectiveness of
internal control over financial reporting. - Records related to financial reporting and
showing internal controls were maintained
appropriately MUST be generated and maintained.
9HIPPA and Records
- Individuals must be able to access their records
and request correction of errors - Individuals must be informed of how their
personal information will be used. - Individuals "protected health information" (or
"PHI") cannot be used for marketing purposes
without the explicit consent of the involved
individuals. - Individuals can ask entities which maintain PHI
about them to take reasonable steps to ensure
that their communications with the individual are
confidential..
10Compliance as a Business Advantage
- Marketing tool
- XYZ is compliant with Sarbanes-Oxley
requirements for managing your information - ABC Company maintains records in accordance with
the records management standard ISO15489 - PR impressions
- Acme Products Corporation has been found by
external auditors to be fully compliant with all
current regulations and requirements for managing
information.
11Designing the Small-Sized RM Program
12The Small-Sized Records Program
- Step One - Identify the organizational objectives
- Step Two Identify the business needs
- Step Three Identify the requirements for
records - Step Four Assess existing technology systems
- Step Five Identify how to satisfy records
requirements - Step Six Design the right system
- Step Seven Put it in place
- Step Eight Review and stay up-to-date
13Organizational Objectives
- Whats the mission?
- Identify key goals of the company
- Assess the resources available
- Labor, financial, logistics
- Identify known risks and opportunities
14Business Needs
- Describe the business processes and requirements
- Legal Financial
- Classification of the organizations functions
- List when records are created and by whom
- Who has authority?
- What is considered the normal course of
business?
15Records Requirements
- Assess how you handle
- Creation of records
- Receipt and distribution
- Storage and management of records
- Legal regulatory mandates
- Common-sense management of information
16Existing Technology Systems
- Inventory and review
- Document management systems
- Current system for managing records and files
(physical and electronic) - Email systems
- Telecommunications
- Internet / Web-based
- Archiving systems
- Level of system integration
17Satisfy Records Requirements
- Develop a strategy to meet requirements
- Review the organizational culture
- Take into account the technology infrastructure
- Identify existing policies and procedures for
managing information - Identify external constraints
- Research current standards
18Design the Program
- May involve
- Changing current processes and workflow
- Adding or changing technology
- Integrating systems and/or procedures
- Training or retraining staff
- Recruiting external assistance
19Implementation
- Plan carefully
- Assess financial impacts before implementation
- Know what workflow disruptions will occur
- Communicate what is happening to users
- Map a project plan
- Ensure full user buy-in
20Maintaining the Program
- Put someone in charge of oversight
- Management level
- Was a part of the program development
- Techno-savvy
- Understands the compliance issues
- Conduct periodic program audits
- Get user feedback
- Update policies, processes and procedures
periodically
21Staffing
- Typical staffing requirements
- 1-50 employees one dedicated staff
- 50 150 employees 2-3 dedicated staff
- 150-300 employees 4-6 dedicated staff
- 300-500 employees 6-8 dedicated staff
- Regulated industries (healthcare, accounting)
will require the higher staffing levels
22Entry-Level Salaries
- Jr. Records Clerical
- High School degree
- 20,000 30,000
- Sr. Records Clerical
- AA or BA/BS degree
- 30,000 - 45,000
- Records Coordinator
- BA/BS degree in related field
- 2-5 years experience
- 45,000 - 65,000
- Source ARMA International
23Management Salaries
- Records Manager
- BA/BS or MS/MBA degree in related field
- 5-8 years experience
- 70,000 - 95,000
- Director of Records
- MBA
- 8 years experience
- 95,000
- Source ARMA International
24Staffing Alternatives
- Temporary Staff
- Flexibility
- Focused experience
- Project-based
- Hourly employees
- Part-time or full-time
- May not need to pay benefits
25Outsourcing
- Using a third party vendor to provide services
previously provided by regular employees - Vendor may absorb the companys current staff or
may use its own staff (or some combination of
both) - Work may be performed onsite or at a remote
location (either domestic or overseas) - Records outsource vendors are competitive in
regards to cost - Experience of staff can be variable
26Offsite Records Storage
- Storage of inactive records that need to be
retained for a period of time (typically longer
than one year) due to business and/or legal
retention requirements. - Offsite storage of records on any media is
possible. - Cost of storage is highly variable.
- Vendors range from local storage companies to
national information and data storage
corporations.
27Offsite Records Storage
- Make sure
- Understands your business
- The vendor is bonded and insured
- Has stored records previously
- Complies with ANSI/ARMA records storage standards
and PRISM guidelines - Can retrieve records when you need them
- Has a defined disaster management plan for their
facility
28Helpful Resources
29ISO Records Management Standard
- ISO 15489
- Requirements for a Records Management program
- Detailed process
- Implementation requirements
- Retention and disposition procedural guidelines
- Copies available for a small cost at
www.iso.org
30ARMA International
- Global association for records professionals
- Welcomes anyone who manages information
- 10,000 members world-wide
- Over 165 local chapters
- 5 Chapters in Greater LA Area
- 3 Chapters in SF Bay Area
- Membership is affordable
- Contact www.arma.org
31Small Business Administration
- www.sba.gov
- Guidelines for managing a small business
- Pointers to appropriate regulations
- Links to other government resources
32Expert Resources
- Experienced Consultants
- Certified Records Managers
- Law firm, corporate and government experience
- Wide Range of Resources
- Westlaw and Lexis/Nexis
- Focused professional journals
- Legal counsel
- GoogleR it!
33Questions ?Lawrence.eiring_at_thomson.com