Records Management

Summary

Records Management controls the retention of all associated business records securely organized within the OnBase Folders interface. The retention cycle of a folder is triggered by an event (or the passage of time), which ties records management strategies into organizational business processes. The module provides cutoff periods, retention plans and multiple destruction options. OnBase Records Management also offers exception handling as well as an administrative management interface.

Benefits

• Enables complete life cycle management from document creation to declaration through final disposition
• Improves consistency and precision by managing multiple documents as a single record
• Automatically declares documents as records using embedded, rules-based conditions
• Ensures timely disposal of qualified records automatically or after required approval
• Minimizes legal risks associated with accumulation of expired records
• Manages all electronic records within an enterprise OnBase ECM solution

Design

Documents, automatically declared as records (Declare), are auto-foldered into a managed folder that is in Open Status (Manage). An Event occurs (Post Event) on the record (folder) (e.g. employee separated, court case closed). When the event is posted, the record is moved to Closed Status, locking the record and preventing modification (Retain). This initiates the Retention Plan for the record. At the end of the retention period, the record, all documents and all metadata are destroyed (Destroy).

Applications

• Financial Services: Lenders can use Records Management to effectively manage all documents associated to a mortgage, installment or commercial loan. Since loans can be closed prior to the end of term, they require event-based retention. Once the loan has been closed, the event will be posted to the managed folder and the retention period will commence.
• Insurance: Insurance agencies can use Records Management to efficiently manage all documents associated with an insurance claim. Not only will the agency or broker benefit from event-based retention, they will be able to ensure documents have not been altered since the claim was closed. This is especially significant if the claim would be taken to court. The agency or broker can show that all documents existed at a specific point in time and had not been altered since that point.
• Back Office Operations: Human Resources departments can use the module to manage all employee records (job applications, medical records, tax returns, etc.) and policy documents. Regardless of employment length, an organization must retain all employee documentation until they have been separated from the company. Once the employee has left the organization, an event will be posted to the managed folder and the retention period will initiate.

Interface

Display Folder Disposition Status from Unity Client Folder Interface (right-click option)

Post Event on Folder from Unity Client Folder Interface