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Records Management Takes Center Stage
Records Management has become a strategic issue for professional services firms. The need for strict compliance with legislation and regulations governing business entities requires that all organizations pay careful attention to record keeping policies and practices. Within professional services firms, the appropriate management of client records is a critical obligation that mitigates risk for both clients and the firm itself.
Some firms already have systems and policies in place for management of physical records that were not designed to fully address electronic content emanating from document repositories, email and other applications. As a result, electronic data has proliferated at a rapid rate resulting in vast, disconnected information stores that are difficult to access and costly to manage without the right tools and policies. It is imperative for firms to adapt and extend their records management procedures and systems to accommodate the unique requirements of electronic information.
Thomson Elite provides a complete solution to help firms achieve their information management objectives that includes software technology, best practices and business process expertise in the deployment of records management solutions within professional services firms. Elite® Records Manager is a key component of this solution offering comprehensive and integrated lifecycle capabilities for managing both physical and electronic records, including email and related attachments, from creation through retention scheduling to final disposition.
Elite Records Manager Highlights
- Manages physical and electronic records, including emails, under a single file plan and user interface
- Automates the entire records management lifecycle with file creation wizards, file circulation management tools and built-in processes facilitating file storage and retention.
- Integrates with leading document management and email solutions. Records can be captured actively by users or automatically within native applications.
- Offers flexible retention scheduling and file disposition tools that allow firms to effectively manage and dispose of information.
- Delivers comprehensive security controls for creation of ethical walls that tightly control file access.
- Provides bar code capabilities to ensure accuracy and minimize problems with lost or misplaced information.
Integrated Electronic and Physical Lifecycle Records Management
Records Manager allows firms to create a master file plan for both physical and electronic information that matches their unique requirements. Complete lifecycle records management of physical files, documents, images, emails and associated attachments, as well as other electronic information is available from a unified interface. Records Manager manages every aspect of the process including initial record declaration, retention, access, holds, audit trail, archival and disposition/destruction.
The system offers comprehensive integration with existing infrastructure and applications including office productivity, document management and email systems. Records can be automatically captured from within native applications or users can conveniently capture and declare records whenever any information created needs to be stored as a record. Maintaining authenticity is a key requirement of any records management solution. Once any file is declared as a document of record within Records Manager, it is preserved and cannot be changed or altered in any manner. Comprehensive security allows firms to create ethical walls that control access to records information through both inquiries and file requests.
Streamlined Physical File Management
Records Manager provides an organized method for managing access to physical files that helps firms optimize valuable office space, reduce both on- and off-site storage costs and improve staff efficiency. Powerful classification, indexing and numbering capabilities enables the system to track information by matter, sub-matter, folder, insert, document or box for total control of physical file content. Files can be automatically or manually numbered according to the applicable file, folder and inserts.
The ability to meet deadlines and prepare work for clients in a timely manner requires the fastest possible access to physical files. With Records Manager, both professional and administrative staff can locate files quickly and conveniently. Users can search for files using Boolean, proximity or wildcard searches. Using Elite Conflicts Manager, users can also conduct full-text searches of folder, insert and document information.
Once the appropriate files are identified, an electronic check-out form is generated and automatically routed to the records center where a "pick list" is printed so the necessary information can be made available to the user. Waitlist and priority-handling capabilities speed access to information and ensure document requests are handled in a timely fashion. Audit trail capabilities allow the records department to easily track the location of missing files by checking who had access to the information.
Flexible Bar Code Capabilities
Records Manager supports bar coding, providing a fast and accurate method of managing the file check-out and return process. Customizable label templates enable firms to easily design bar code labels to meet unique requirements; users can print multiple copies of a single label or print labels in global batches. Using an optional portable scanner, file room personnel can create inventory lists and synchronize databases to include files kept in personal file cabinets as well as centralized storage. This allows files that move between offices to be tracked without going through a central check-in. For added flexibility, Records Manager can also recognize bar codes used by third-party vendors.
Manage Information Stored Off-Site
Records Manager is also an invaluable tool for firms that store records off-site. With this powerful tool, the firm maintains complete control of files located at one or more external storage facilities. For increased efficiency and accountability, Records Manager maintains a complete check-out history that minimizes the effort needed to trace missing files. In addition, when users request files that are already checked out, Records Manager can create a dynamic waitlist. Upon check-in, waitlisted files are automatically checked out to the next party on the list. The same feature can also be used to identify frequently requested off-site files and relocate them to on-site space if demand justifies their return.
Automate Routine Functions
Many records center processes are repetitive and unchanging. To expedite these efforts, Records Manager utilizes powerful modeling expertise to generate standard sets of folders and inserts. With Records Manager, the firm defines the rules governing the file system. For example, the system can be instructed to produce correspondence, pleadings memos and research folders for each litigation file. Models are created based on department, client, timekeeper or other firm-assigned criteria.
Consult the Experts
Thomson Elite has a dedicated team of practice management process automation consulting experts that focus on helping professional services firms better understand their business processes relating to records management. Assessment and review of your firm's records management operations will improve your overall efficiency, eliminate redundant processes, identify and mitigate potential risks to the firm, and implement records management solutions that match your unique business objectives.
Your Partner for Comprehensive Records Management
Thomson Elite is a leading provider of integrated information solutions to professional services firms worldwide. Thomson Elite is a business within The Thomson Corporation and is a premier provider of financial and practice management systems to the legal industry and to other professional service markets, including accounting, engineering, marketing services, and management and IT consulting.
For more information on Thomson Elite, please complete our sales request form.
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