This document discusses records management and its importance. It defines a record as documented proof of a transaction and describes records management as the process of creating, maintaining, storing, and disposing of records. It outlines five stages of records management: creation, utilization, storage, retrieval, and disposal. Finally, it discusses the significance of records management, including its use as a business progress indicator, for future reference, reducing errors, as legal evidence, and improving efficiency.

1. Integral Records
Management Improvement
Program

2. Record
 Is the process of creating, using and preservation of record to
perform the business functions effectively.
 Records management is defined as the creation,
distribution, maintains retention, preservation, retrieval
and disposal of records for purpose of keeping the planners
and decision-makers informatively in a business organization.
Record Management
 A Record is defined as a documented proof of a
transaction.

3. Stages in Records
Management
1. Creation of Records: This involves writing data in
suitable forms. The data is prepared periodically at
regular intervals for a specified period. Making
records is an Important function of records
management.
2. Utilization of Records: The created desired
records may be retrieved and delivered to the
specified person on request for efficient disposal of
business functions. It involves the development of
specified procedures through which records move.

4. Stages in Records
Management
3. Storage of Records: Records are properly
classified and put into separate file covers or folders.
Proper filing system should be followed for keeping
documents. The recorders should be stored at an
easily accessible place. Proper care should be taken
to protect every record. Maintenance of records is
very much essential for effective management.
4. Retrieval of Records: It involves readily locating
the desired records. If any documents or records are
drawn from the files or cabinet, there should be a
visible signal available to every body. Besides, the
used documents or records should be returned to the
files within reasonable time.

5. Stages in Records
Management
5. Disposal of Records: The records and
documents no longer required are destroyed after
getting approval from top management. Obsolete and
unnecessary records are destroyed to avoid
needless storage costs and avoid storage space
also. These are also informed to the top
management. Valuable documents such as deeds,
bonds, registration certificates, property documents
and the like are retained for future use.

6. Significance of Records
Management
1. Barometer of Progress: Records reveal the
progress of business organization in stage by stage.
2. Future Reference: Records constitute the
reservoir of information (memory) relating to the
business organization.
3. Reduction of Errors: Keeping up to date accurate
records can minimize errors and prevent frauds.
Records are an essential part of internal control
system. Records management is a part of performing
control function of management.

7. Significance of Records
Management
4. Legal Evidence: Records serve as a written proof
of the transactions in case of a legal dispute. Some
records such as Indirect Tax Returns, Value Added
Tax Return and the like have to be maintained for a
specific period of time.
5. Efficiency: A good system of records
management ensures the supply of required
information with speed and accuracy. It helps to
improve the efficiency of office operations.

19. Reference
 https://accountlearning.com/records-management-
stages-involved-significance/
 https://slideplayer.com/slide/14408405/

20. Thank
You!!!!