What Is a Records Management System?
A records management system (RMS) is software designed to organize, store, track, and control an organization’s records throughout their entire lifecycle. It manages everything from creation and storage to retention and final disposal. Think of it as a central hub that ensures every record—digital or physical—is properly handled, protected, and easy to retrieve when needed.
What Does a Records Management System Actually Do?
A records management system brings structure and oversight to the way information is managed. Core functions typically include:
- Capturing and storing records in a centralized repository
- Applying retention schedules and compliance rules
- Organizing records with metadata and categories
- Tracking access, edits, and activity logs
- Supporting secure retrieval and long-term preservation
- Managing disposal or archival processes when records reach the end of their lifecycle
In short, it keeps records safe, searchable, and compliant from the moment they’re created.
Why Is a Records Management System Important?
Organizations rely on records—contracts, reports, HR documents, invoices, emails—to run their operations. Without a structured system, those records become scattered, difficult to manage, and risky from a compliance standpoint.
An RMS helps by:
- Reducing the chance of lost or misfiled documents
- Improving efficiency through organized storage
- Supporting legal, regulatory, and audit requirements
- Enforcing retention rules automatically
- Enhancing security and access control
- Providing clear ownership and accountability
It’s a foundational tool for responsible information governance.
How Does a Records Management System Work?
While features vary across platforms, most RMS solutions follow a lifecycle approach:
- Capture – Records are added through uploads, integrations, scanning, or automated workflows.
- Classification – Metadata, tags, or categories are applied for easy organization.
- Storage – Records are stored securely in a structured repository.
- Access & Use – Users retrieve and work with records based on permissions.
- Retention – The system enforces rules dictating how long records must be kept.
- Disposition – When retention ends, records are archived or securely destroyed.
This lifecycle ensures every record is handled consistently and defensibly.
What Types of Records Can It Manage?
A records management system can handle virtually any type of business record, including:
- Contracts and legal agreements
- Financial documents and audit materials
- HR files and personnel records
- Policies, procedures, and training materials
- Emails and correspondence
- Medical or compliance records
- Project documentation
- Historical archives
Both digital and physical records can be tracked through the system.
Who Uses a Records Management System?
RMS platforms are used across industries where compliance and information control matter most:
- Government agencies
- Healthcare providers
- Legal firms
- Financial institutions
- Education and research organizations
- Corporations with regulated recordkeeping requirements
Any organization managing records at scale benefits from structured oversight.
What Are the Benefits of Using an RMS?
A well-implemented records management system provides:
- Improved organization through consistent filing and metadata
- Reduced risk of compliance violations
- Faster retrieval of information
- Lower storage costs thanks to controlled retention
- Enhanced security with role-based access
- Clear audit trails for accountability
- Better productivity with fewer manual tracking tasks
These benefits make RMS solutions essential for modern information governance.
Does an RMS Replace Document Management Software?
Not exactly—though they overlap, they serve different purposes:
- Document management systems (DMS) focus on daily document handling, collaboration, and workflows.
- Records management systems (RMS) focus on long-term control, retention, compliance, and lifecycle management.
Many organizations use both, and some platforms combine the two.
Is This Something Folderit Supports
Yes. Folderit includes robust records management features such as metadata tagging, version control, retention policies, audit trails, and secure storage. It helps organizations manage records throughout their lifecycle while maintaining compliance and easy access.