BUSINESS RECORDS

Business Records is business information that contains all the transaction between two or more parties in the form of electronic and paper documents such as request for quotation, delivery order, receipts and many others. The records are kept for evidence and references in future. These records are created in the course of conducting a business with other parties or organizations. Records management consists of several fundamental activities that each program must undertake in order to ensure an effective program. Records must be clearly identified, organized into series, and stored in offices using file plans that document the method used to organize the records. 

Business Records Management is a field of management that responsible for the efficient and systematic control of the creation, maintenance, use and disposition of business records. It is a process in managing the business records efficiently and effectively to preserve the business records and at the same time to get profit. 

Records management is the system used to control an organization's records from the creation of the record until the record is archived or destroyed. A records management process is comprised of identifying records, classifying records, and storing records, as well as coordinating internal and external access. The process may also incorporate policies and practices on how to create and approve records, as well as the enforcement of those policies and practices.

Many organizations must deal with large amounts of information on a daily basis. Productive organizations incorporate a comprehensive, effective records management process into their daily operations.

Before developing a records management process, an organization must be able to determine what constitutes a record. Let's begin by defining an organizational record. An organizational record is any document that contains information about a transaction, activity, or event related to the organization.

The record can be stored on paper or electronically via email, digital file, database, or spreadsheet. Records also can be photographs, audio files, or videos. Some examples of record classifications are legal, financial, historical, and daily operations. An effective records management process contains at least five components: record creation, internal and external record distribution, record usage, record maintenance, and record archival and disposal.