Records retention is a practice by which organisations maintain confidential records for set lengths of time, and then employ a system of actions to either redirect, store or dispose of them. It applies to paper documents as well as the retention of electronic records such as word documents and spreadsheets.
Records can be considered evidence of a decision or transaction that took place within your business operations, and should be kept as long as required—or for as short a period as necessary–by regulatory, legal or business governance.
Records retention is driven by a system of policies, scheduling and infrastructure that enable administrators to comply with governing regulations, laws and business best practices.
Using Castlepoint, or an RM system, electronic document records management system (EDRMS), or enterprise content management system will help.