Detailed Analysis: Document Management and Records Management Systems

This report provides a comparative analysis of document management (DM) and records management (RM) systems. It explores the functionalities of each system, highlighting their roles in managing documents and records throughout their lifecycles. The report emphasizes the significance of DM in facilitating user access, collaboration, and document control, while RM focuses on the identification, storage, and handling of non-living records, especially concerning legal and operational aspects. It discusses how both systems contribute to mitigating costs and improving data utilization within organizations. Furthermore, the report examines the impact of DM and RM on information management strategies, emphasizing the challenges and benefits inherent in their implementation. It also references key resources, such as articles and online publications, to support the analysis and provide a comprehensive understanding of DM and RM within a business context.

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Document Management and Records Management
With the increasing significance of regulatory practices and eDiscovery challenges for
various organisations, it is the phase to embrace over record management system. However,
there are possibilities that some organisations are already using some kind of document
management system and this arises the concern that whether their document management
system also supports record management? This also requires companies to develop and
strengthen their information management approach which signifies as a main strategic
document that will bring into line information management efforts to fulfil the needs of an
information supremacy context and provides a clear strategic direction and visions in all
aspects of information management.
The document management (DM) system offers functionality for living documents which
passages through different states like draft, steering for approval and accepted (tsgrp.com,
2016). The key objective of this system is to make it simpler for the users to access and
manage their documents with allowing them to collaborate on those documents. On the other
hand, record management (RM) system are known for managing items/records that are not
living and this more intended towards recognising, storing, upholding and handling data that
refers to actions in an enterprise work sequence that are associated to fiscal, legal and
operational undertakings within the business enterprise.
There is a significant impact of both the system on the organisation in terms of mitigating of
costs and make better use of data. For instance, it allows the organisation to recognise
contracts and other documents that need of distinctive handling due to compliance procedures
and at the time of a breach, businesses being able to recognise and contain the issues quickly
and this plays an important role in mitigation of costs. Similarly, RM and DM both impacts
the information management strategy as improving information management practises is a

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main focus of many organisations across both private and public sector. Information
management compasses all the systems and processes within an enterprise and in relation
with technology (Rai and Tang, 2014), DM and RM is also a part of this system and
therefore, the challenges inherent in implementing both by organisation can influence the
whole information management system of the enterprise and further impact organisation
ability to develop well strategies.
Document management and records management are having several advantages that they can
deliver to an organisation information management plan. For instance, both the system takes
out different approaches in storing documents. In document management system, the
generalized document's sources offer for checking-in and out of documents that can be
reviewed and revealed for prospect amendment. The record management system here place
records and documents in proper context however a problem is created to on-site records
storage, various companies drive an off-site records centre too (Roe, 2010). DM system also
become attractive to the companies due to their automated process as steering the life cycle of
document, security access control, and other aspects whereas RM uses automated process to
handle records in a reliable way irrespective of their format. Ultimately, document
management system was built to make simpler for individuals to use store, manage and co-
operate on electronic information while record management system was developed to manage
records life phase and allow companies to effectively comply with statutory requirements.

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References
Rai, A. and Tang, X. (2014) Research commentary—information technology-enabled
business models: A conceptual framework and a coevolution perspective for future
research. Information Systems Research, 25(1), pp.1-14.
(https://doi.org/10.1287/isre.2013.0495)
Roe, D. (2010) 6 Ways Document Management and Records Management Differ [ONLINE]
Available from: https://www.cmswire.com/cms/document-management/6-ways-document-
management-and-records-management-differ-006454.php [Accessed 22/03/2020].
tsgrp.com. (2016) Top 5 Differences between Records Management and Document
Management [ONLINE] Available from: https://www.tsgrp.com/2016/09/22/top-5-
differences-between-records-management-and-document-management/ [Accessed
22/03/2020].