A real records schedule in under an hour...

Getting the right records retention schedule dosesn't have to be difficult!

Retention Wizard guides you through a few simple questions, lets you choose what types of records you want to keep, and then identifies Federal and state laws regarding how long you must keep those types of records. It then automatically links those laws to the right records category so you know exactly how long to keep each type of record.

Retention Wizard also gives you detailed descriptions and flexible codes to help organize your records. You can easily customize the categories and retention periods, and then print your new retention schedule for approval and distribution. It couldn't be easier!

You can then proceed confidently to organize and destroy the records that are no longer needed by your company.

Retention Wizard is surprisingly affordable. Please click here to learn more about the Retention Wizard records retention software.

Retaining old, unneeded records is wasteful and risky. Let the Retention Wizard help you make them all disappear!

Retention Wizard: The Law Firm Edition

Getting to Less: Keep your firm’s records, including client files, no longer than they are required. [More]

Retention Wizard: The Insurance Agency Edition

For over 25 years, Information Requirements has been developing records retention programs that work. Regulations from every state on insurance recordkeeping are covered in this software.  The longer you wait the farther behind you get...[More]
 

Why a Retention Schedule?

All companies create records in the regular course of business. These records may be created to meet business needs, comply with existing legal requirements or to protect the organization in case of litigation. Some are physical, most are electronic.

A fundamental best practice for minimizing business risk is to implement a legally-defensible records management program. The first requirement of such a program is to determine the legal requirements for records retention and destruction. These requirements are the foundation for producing a defensible records retention schedule.

Next steps include creating,

1. Policies and Procedures that conform to the retention schedule,
2. consistent, well-documented Policy execution and enforcement,
3. integration with enterprise Content Management Systems.

There are no guarantees in a court of law, but following these steps can significantly help to establish “Good Faith” if an organization can’t produce records in litigation. This way, a company can substantially reduce both legal risk and the cost of electronic discovery.

Years ago, most attorneys thought it was prudent to keep records for long periods, or even “forever”, in case they were needed for some reason. Since the rise of multiple risks and costs associated with retaining records for too long, most attorneys now agree that records should be destroyed when no longer needed for any legal or business reason. “Keeping everything forever” did not require knowledge of the complex legal retention requirements affecting records, but the new data risk environment requires precise knowledge of what records must be kept, for how long, and how they may be destroyed.

There are thousands of U.S. laws governing how and how long companies must retain records, and they are steadily increasing in number. Responsibility for managing the risk around retaining and disposing of electronic information reaches ever deeper into management responsibilities. By improperly managing records retention, multiple organizations have been accused of obstruction of justice or destruction of evidence (spoliation), resulting in sanctions including adverse decisions or losses of rights in court. Not knowing the accurate and reasonably comprehensive records retention requirements for your company and your industry is no longer optional in corporate governance or fiduciary accountability.