A successful business is dependent upon documents: correspondence (letters, emails, and memos), contracts, reports, etc.  Each document is record what the business does.  Whether on paper or electronically, it is imperative these documents are kept organized and systematized to keep any business on track. 

 The process, known as record management, is in place so companies know which documents to keep, where to keep them and for how long; such factors establish if information and documents are available when you need them. 

Record management is imperative because it allows companies to help control costs and diminish issues that may arise due to lost records and documents.