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Why big-data is the new oil, how it may improve your life, and is there a way to make money from data?

There was once a day, not too long ago, when records management and document storage professionals were the gate-keepers of data. When the information that we found important was largely confined to physical records and paper documents, archivists and bookkeepers were its handlers. Now, in our 21st century state of modernity, data has grown in such volume and significance to the well-running of the world, that it has left the hands of those humble custodians and has instead become the domain of the globe’s most powerful companies. Tech giants like Alphabet (Google’s parent company), Amazon, Facebook and Apple covetously store more and more data, establishing near monopolies on the practice and amassing eye-watering wealth in the process. These huge companies have built a future of wealth accumulation around this newly revalued, newly commodified resource. Tech’s biggest companies are now so large they have taken on the significance of nation states,

Why big-data is the new oil, how it may improve your life, and is there a way to make money from data?2020-11-20T17:15:18+02:00

Voter Fraud! Why Trump’s claims show he knows nothing about records management

The US election still balances on a knife-edge, although our personal prediction is that Joe Biden will secure Nevada and Arizona as well as complete a late surge in Pennsylvania to secure the presidency. (Since writing this, Biden has also taken the lead in Georgia.) However, Trump has consistently defied expectations, and stranger things have happened so we will be following it closely. Unfortunately, even if Biden reaches the all-important 270 electoral college votes, Trump will insist on a protracted legal battle and a likely recount in Wisconsin where Trump’s share of the vote is less than one percent lower than Biden’s. Trump’s main issue with the election is the high quantities of mail-in ballots that are, firstly, predominantly votes for Biden and, secondly, are being found in large quantities at the end of the count in certain key battleground states. As a company specialising in records management, we know

Voter Fraud! Why Trump’s claims show he knows nothing about records management2020-11-06T15:30:31+02:00

For business owners: when and how to dispose of sensitive documents

An effective records management system relies on the consideration of a variety of different factors. It is more than simply storing all your records for ever. Even if you - or whoever is in charge of records management on your site - have created an organised system for managing your records, eventually those records will be so numerous your system will fail. It is, therefore, absolutely essential that your records management system has an in-built process for the destruction of your records. If your system fails it could result in an inability to find certain documents in a timely manner. It might mean other documents are lost forever. It also opens your business up for the possibility that some important documents can be stolen without your notice. This can have a devastating impact on your business and how it runs. Improper records management can result in missed payments, lost contracts

For business owners: when and how to dispose of sensitive documents2020-10-27T17:09:21+02:00

Records Storage: Global standards for the records management industry

Many people are unaware that there is a global standard for records management that was issued by the International Organisation for Standardisation (ISO) back in 2001. Since its first release, ISO 15489, as it is commonly referred to, has undergone various updates and re-works, most recently in 2016. In this article, we will take a closer look at ISO 15489 and what it has meant for businesses. In 2001, this ISO provided practical guidance and contained specialised guiding principles in relation to records management. The first iteration of ISO 15489 served its purpose, but in 2016 it was time for a more holistic understanding of records management. Indeed, the 2016 iteration of this ISO focused more on metadata, digitisation, and information security. It is fair to say that ISO 15489 is better suited to help modern businesses overcome typical issues of modernity. What does it cover? There are various topics

Records Storage: Global standards for the records management industry2020-10-09T12:35:17+02:00

Why records management is essential for small businesses and start-ups

For many new business owners and operators, records management might not seem like the most pressing of their many concerns. There are a lot of moving parts to operating a young business. There are start-up costs. There is the pressure of entering quickly and confidently into the market. There may seem to be a lot hanging on the strength, weight and outcome of any early relationships - whether with potential clients, suppliers or partners. And there are a whole host of other challenges dependent on the specific industry being entered into. Small businesses and start-ups have a lot on their plate. Putting into place a system for the management and storage of a new business’ records might, therefore, seem not so pressing a concern as those listed above. That is understandable. It may, however, also be costly. In this article, we will look into how important records management is to

Why records management is essential for small businesses and start-ups2020-09-23T14:22:11+02:00

The 9 Principles of Record Keeping: The foundations of good records management

In this article, we delve into the 9 key principles of record keeping. These principles are a great place to start if you are looking to implement an effective records management strategy. At The Filing Room, we know a thing or two about how to manage important records safely and securely. We would always recommend using a third party to store your records but, if that is not an option right now, you can always do it yourself. As long as you consider these 9 key principles, you should be just fine. The beauty of these 9 principles is that they are true and useful regardless of whether your records are physical or digital. They apply across all spheres of records management and document archiving. ACCOUNTABILITY: Do not overlook the importance of records management. What frequently happens when businesses don’t use a third party is that records are placed in

The 9 Principles of Record Keeping: The foundations of good records management2024-06-14T10:33:50+02:00

Kenyan Corporate Law: How long must I keep my accounting records?

Table of Contents: Introduction Accounting rules in Kenya and the world The retention of records/documents What is the law in Kenya? 3-month grace period in Kenyan accounting law 7-year legal storage requirement Why you should store your records indefinitely What format must these records be kept in? Introduction Are you a business owner worried about where to store the records for your enterprise? Or perhaps you are an Office Manager looking to de-clutter your office and implement a proper document management system? In this article, we will be going through the legal implications of your corporation’s records. This information will allow you to make a better-informed decision about your records and prevent any costly legal cases and complications further down the line. You would be surprised at how useful one small, seemingly insignificant, document could be in 5 years’ time during an unexpected legal case. So, let’s jump right in.

Kenyan Corporate Law: How long must I keep my accounting records?2021-01-08T13:10:53+02:00

Records, Documents, Archives and Information: Explaining some of the key terms in records management

We created the archiving insights series of articles as a bulletin board for all of Kenya’s businesspeople. It is a business blog designed to keep its viewers up-to-date with the latest developments in East African business. We hope that some of the information we have shared has made our readers better informed on the factors influencing their sector of the Kenyan economy. It is in the interest of records and document management professionals to boost the economic output of the country as a whole. Increased business activity for the country means a greater number of records of that activity. But we also created this series of articles to inform local businesspeople on the benefits of third-party records management. In some of our previous pieces, we have talked about the benefits – on workforce morale, business operation, and crisis management – of professional records storage. We are all businesspeople in our

Records, Documents, Archives and Information: Explaining some of the key terms in records management2021-05-20T09:51:41+02:00

Life Insurance and Economic Growth: The Implications for A Growing Economy

In the final installment of our special report into the insurance industry of Kenya, we take a deep-dive into one of the key sub-sectors of the general insurance landscape: life insurance. A report by the major multinational accounting organisation, Deloitte, recently highlighted the competitive nature of the Kenyan life insurance industry. The report suggested that a lack of technological innovation and increased competition was driving prices down and reducing the profit margins of the major life insurers. Price wars and increased competition are usually beneficial for everyday consumers because they result in lower fees. However, as we are about to find out in this article, reduced profit margins for insurance companies can result in reduced investment and growth in the entire economy of a region. This is because insurance companies are the key drivers of public investment. Key Life Insurers Life insurance premiums resulted in $8.6 million worth of income

Life Insurance and Economic Growth: The Implications for A Growing Economy2020-04-23T12:31:10+02:00

Analysing the future of Kenya’s Insurance Industry

In last week’s article, we explored the general state of the Kenyan insurance sector. We looked at its competitive nature, the general themes of its recent changes toward rationalisation, and its potential for growth. In this article, we intend to take a closer look at this potential future. If you haven’t read last week’s article, then we suggest you do so. It outlines the necessary background to understand how insurance may develop in this country. We are all stakeholders in the growth of the Kenyan economy and the insurance sector is an integral part of that complex machine. Insurance exists to minimise risk for entrepreneurs and entrepreneurial spirit is what drives economic growth and opportunity. Understanding how this sector might perform benefits all of us businesspeople. It will have a bearing on the competition in our sectors, the wealth of our clients and new avenues for investment. Coronavirus: Impacting pay-outs

Analysing the future of Kenya’s Insurance Industry2020-04-16T17:10:53+02:00
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