5 Things Records Managers Must Do Differently In 2024

Corodata TeamJan. 02, 2024 | Records Management |

This year’s biggest records management trends will broaden and amplify the practice of traditional RIM. To start, we’ll see new laws, tackle more sophisticated records analysis and place even more emphasis on the bottom line.

The madcap rush to go digital will be tempered by the realization that effective paper records management is both necessary and valuable. While, established and trusted records management tactics are blending with modern, technically sophisticated information governance strategies to create a more comprehensive approach—tracking paper and data from creation to destruction.

This shifting focus has laid the groundwork for what RIM pros should be focused on this year. Here’s what’s on the horizon.

1.

Preparing for tough new personal information protection laws

Records managers in the United States will be watching closely as the European Union unveils the General Data Protection Regulations, known in the industry as the GDPR. These tough new consumer consent and data breach rules carry extraordinary fines and – contrary to popular belief – experts say they will affect many U.S.-based businesses. Some even believe that in the wake of the monumental Equifax and Yahoo data breaches, similar U.S. laws are not far behind and American businesses need to start preparing, now. This mean consumer protection is one of the major things records managers must do differently in 2024.

2.

Proving the return on investment in records management programs

According to the most recent data from the Information Governance Initiative, large organizations are spending more than $5 million on IG, and nearly half expect that figure to climb. RIM is a key tactical component of IG, and whether you’re a big, small or medium-sized business, one of the most important trends of 2024 will see records managers increasingly called upon to show how they’re contributing to the bottom line. This is one thing records managers must do differently in 2024, and we’ve got a strategy for businesses of all sizes.

3.

Making digital preservation a priority

The digital formats we use today probably won’t be around forever – your dusty old CD collection should be all the proof you need. In some cases, the older formats are at risk of physical decay; in other cases, the hardware or software are difficult to find or increasingly expensive to store. November 2017 marked the world’s inaugural International Digital Preservation Day, highlighting the problems that records managers will soon encounter if they don’t work to preserve information stored on old formats like floppy disks and USB sticks (both of which have been classified as critically endangered). Whether you’re printing to paper and storing, scanning or backing up to tape, you’ll be busy pulling data off those floppies and memory sticks before it becomes impossible.

4.

Transforming static records into dynamic business intelligence

The Association for Intelligent Information Management says records management is gradually shifting from managing “static repositories” of paper and data to “managing information in motion.” More and more, companies want to use the information in digital and paper records to glean insights and drive competitive advantage – making data mining one of the key things records managers must do differently in 2024. Make sure your team members have instant access to the information they need.

5.

Finding “hybrid” records management solutions for paper and digital

RIM pros now understand that the paperless office has not materialized, and paper documents are still relevant. While the drive to digitize remains, many professionals are focused on hybrid solutions that recognize the value of both paper and digital record storage, at least in the short term. Oh, the irony: One of the hottest records management trends of the digital age is to make peace with paper.

Are you ready to get ahead of the trends?

Whether you’re focused on data protection, digital preservation or dynamic information governance, Corodata can support you with secure, off-site information at your fingertips. Let’s get started. Yes, I’m ready

Sources

Yes, The GDPR Will Affect Your U.S.-Based Business | Forbes
The big box project – saving money with an inactive records strategy | tab
Critically Endangered | Digital Preservation Coalition
Information Governance Initiative Annual Report 2015-2016
Should the US adopt GDPR? | Information Age
Physical records management here to stay along with digital records | TechTarget