 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
by Carolyn Jones, President of Financial Records Consultants
Have you heard or even said the words... "Record Retention is important, its just not a priority" or "we know we need it, but right now we have other projects to spend our money on" or..."it's on the back burner"?
Have you hoped for a flood so you can explain to the judge why you cannot find your records?
In the blink of an eye bankers spend thousands of dollars on equipment that ultimately does not fill the need, yet the looming problem of record retention is not addressed.
Banks retain records which have little legal, fiscal, or archival value because they are not sure how long is required for record retention. Or, they will put a seven year retention period on the records and place them in the storage area and never look at them again. When the seven years is up, they do nothing because they still aren't sure of the correct retention period. There the records sit gathering dust, using valuable space, and wasting the banks' money. The retention period that was required legally has long past.
Having a good, "safe and sound" record retention program that is based on your record titles and your need gives you the peace of mind that being in compliance with the statutes and regulations can bring.
Product Info | DEMO | Testimonials | Articles | About Us | Contact Us | Disclaimer | Return to Main Page