What is a Records Inventory?
Answer
A records inventory is the process used to identify all records created and maintained by your department. It also seeks to distinguish official Bank records from non-records. A record is defined by ARMA as:
“Any recorded information, regardless of medium or characteristics, made or received and retained by an organization in pursuance of legal obligations or in the transaction of business.”
ARMA Glossary of Records and Information Management Terms, 5th Ed.
This identification is done at a category level; users will sort records into groups that have similarities in their purpose and/or description (content) and are not required to complete this exercise at a document level. This process collects information on the current storage, location, and access which is crucial when planning the Records and Information Management needs of the Bank.