Records Management for Small Business Building a SmallSized RM Program

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Records Management for Small BusinessBuilding a
Small-Sized RM Program

• H. Larry Eiring, CRM, FAI
• Thomson Elite

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Todays Roadmap

• The Challenges for Small Business
• Compliance and Risk
• Designing an RM Program that Fits
• Resources

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Challenges 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

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The 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

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Challenges 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

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Focus 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

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Focus Areas

• SOx
• Accountants
• Insurance Agents
• Banking Officers
• Investment Officers
• HIPPA
• Doctors
• Hospital Managers
• Dentists

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Records 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.

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HIPPA 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..

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Compliance 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.

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Designing the Small-Sized RM Program
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The 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

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Organizational Objectives

• Whats the mission?
• Identify key goals of the company
• Assess the resources available
• Labor, financial, logistics
• Identify known risks and opportunities

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Business 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?

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Records Requirements

• Assess how you handle
• Creation of records
• Receipt and distribution
• Storage and management of records
• Legal regulatory mandates
• Common-sense management of information

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Existing 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

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Satisfy 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

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Design 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

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Implementation

• 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

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Maintaining 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

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Staffing

• 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

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Entry-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

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Management 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

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Staffing Alternatives

• Temporary Staff
• Flexibility
• Focused experience
• Project-based
• Hourly employees
• Part-time or full-time
• May not need to pay benefits

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Outsourcing

• 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

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Offsite 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.

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Offsite 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

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Helpful Resources
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ISO 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

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ARMA 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

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Small Business Administration

• www.sba.gov
• Guidelines for managing a small business
• Pointers to appropriate regulations
• Links to other government resources

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Expert 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!

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Questions ?Lawrence.eiring_at_thomson.com