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Consequences 
Poor Record Management
The
Of
Financial
Legal
Productivity
Data Loss
When records slip through the cracks or aren't
properly tracked, companies can run into trouble
with taxes and budgets—which then may ripple to
handling payroll as well
When you and employees waste time
looking for lost records rather than working,
you lose out on efficiency and money (since
time is money) and ultimately hurt your
bottom-line
"Hope for the best and plan for the worst."
The larger businesses and their record
archives are, the more important it is that
there's a backup plan in place for their
primary copies of records.
If businesses face legal action
or audit, disorganized record
keeping makes it difficult to
produce records in a timely
fashion and can lead to
issues with retention
tracking (both which are
against the law).
Recordnations

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The Consequences of Bad Record Keeping

  • 1. Consequences  Poor Record Management The Of Financial Legal Productivity Data Loss When records slip through the cracks or aren't properly tracked, companies can run into trouble with taxes and budgets—which then may ripple to handling payroll as well When you and employees waste time looking for lost records rather than working, you lose out on efficiency and money (since time is money) and ultimately hurt your bottom-line "Hope for the best and plan for the worst." The larger businesses and their record archives are, the more important it is that there's a backup plan in place for their primary copies of records. If businesses face legal action or audit, disorganized record keeping makes it difficult to produce records in a timely fashion and can lead to issues with retention tracking (both which are against the law). Recordnations