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Records management includes ILM
Written by Michael Asu   
Information Lifecycle Management is a related discipline to records management and should be part of any overall records management strategy. Information Lifecycle Management, or ILM, is the application of policies and protocols to managing data throughout its useful life. With an increase in the use of electronic records, and the requirements of legislation such as the Sarbanes Oxley act, good ILM is essential to the operation of organizations and businesses. For more than 30 years, the practice of ILM has been used in records management. ILM began with physical methods of records storage such as paper, microfilm or audio and video recordings, but has evolved with modern technology to include digital means of records storage such as online databases.

Electronic records are becoming increasingly prevalent in organizations. Although as much as 75 percent of all organizations' records are still on paper, a growing number of organizations are going paperless. The reason for this change is the efficiency and labor and storage savings managing records online or in data storage devices offer.

Information Lifecycle Management is present in every step of a record's evolution, from its creation to its destruction. A record is defined as "information created, received, and maintained as evidence and information by an organization or person, in pursuance of legal obligations or in the transaction of business." This definition also includes electronic records. A better definition of electronic records may be, "a recorded information produced or received in the initiation, conduct or completion of an institutional or individual activity and that comprises content, context and structure sufficient to provide evidence of the activity."

Not all records governed by a records management or ILM are commerce related. Other records governed by these systems include education records, birth, death and other medical records and voter registration and other government records.

Five phases

With regard to ILM, there are essentially five phases in the life of a record:
  • Creation and receipt: In this phase, records are created or received. These records can include reports, sketches, computer input or output or recorded correspondence via e-mail or telephone recordings, letters or memos. Not all records are created by the organization maintaining them. Correspondence, invoices, bills and other paperwork submitted by other properties may count as records.
  • Distribution: This entails the management of information once it has been originated or when it is received. This phase includes both internal and external distribution, as information that leaves one organization becomes a record of interaction or transaction with another organization.
  • Use:  This phase concerns what happens after information is distributed within an organization. This use of information can result in decisions or actions, or it can serve to document actions or other purposes.
  • Maintenance: This is the phase that most directly entails records management. This phase can include the filing, transfer and retrieval of information. Filing concerns the organization of information for easy access and use by the organization. Proper organization is vital, as information that is hard to find or incomplete can seriously handicap an organization's effectiveness. Maintenance should include policies regarding access to information, especially in organizations that must provide information to the public. Organizations should be careful to manage information in such a way as it does not contribute to identity theft.
  • Disposition: This is the destruction of records that is no longer useful or has exceeded its retention period. The value of most records tends to decline over time until it is no longer useful. Getting rid of this information can increase organizational efficiency. Specific protocols are necessary to ensure proper disposal of sensitive information and the prevention of identity theft and other crimes.
Some records have retention periods set by courts or legislation. For example, the Sarbanes-Oxley act requires that records of publicly traded companies be retained for at least five years before disposal. In court cases, judges may sometimes grant motions that records scheduled for destruction be spared until they can be introduced as evidence.

Information life cycle management is a vital component of records management. Knowing what a record is, how to organize it and when it's outlived its usefulness is key to an efficient and effective records management policy that helps your organization function better. Establishing and enforcing an ILM policy can help make your business more efficient, protect you and your associates from identity theft and ensure compliance with federal regulations.
 
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