If you business is to operate effectively, you and your staff need to be able to create, store, access and reuse information received or produced during the course of a regular working day.
Establishing core principles for keeping a good record of your business activities will reduce risks and lessen exposure to issues that may incur corruption or even loss.
Risks associated with poor document management include:
- Unreliable information is used to make business decisions
- Key information or documents are hard to find or lost
- Time is wasted re-creating documents that cannot be found
- Management practices become untimely, inappropriate and inefficient
- The business is unable to comply with legislation or regulations
- The business gains a negative reputation.
Core principles for managing information include:
- Having a structured system for storing documents that is easily understood and available for all team members to access and use as and when required
- Ensuring that all documents created as part of normal business activities are filed appropriately in the approved filing system
- Establishing standard policies, processes and procedures and ensuring team members understand and maintain them when creating, storing and using organisational information
- Making and storing notes on key business decisions – made by your Board or with clients.
You can read about more hints and tips to improve your business in my free eBook; and even more if you download the eWorkbook that gives you a full set of instructions on how to set up a filing system for your business.