Frequently Asked Questions
1What is Records Management?
Records Management is a professional discipline concerning the “management of document-based information systems”. It is a systematic control of all organizational records: from their creation or receipt, through their processing, distribution, maintenance and use, and to their ultimate disposition.
2What records need to be stored?
Information generated while conducting business should be preserved because of their informational value. They are the evidence of an organization’s operations and activities which are important for legal, tax, and audit assessment purposes. Example, agreements, accounting records, tax records, invoices, management reports etc
3How do I determine what information requires proper storage?
As a general rule of thumb, if you answer YES to any of the following questions, you need to store the information properly-
- Does the information document your daily business process?
- Does the information provide input to a mission-critical business decision?
- Does the information provide evidence as to why a business decision was made?
- Is the information required for legal, fiscal, audit, or tax purposes?
4Why do Records need to be protected?
Lost records from misplacing or disaster can affect critical operations. Legal implications can arise if information cannot be recovered by the company on a timely basis should there is any tax or legal requirement.
5What benefit I get from external offsite storage?
By outsourcing your physical records and storing it in another location outside your office, it is part of an effective Business Continuity / Disaster Recovery plan should anything happen to your office. This also helps you to respond and recover from any disaster much faster to minimize disruption on your office operations.
6Won’t storage costs me more money because I have to pay monthly rental?
Records is part of your company valuable assets and should be treated and protected properly as of any other assets. Therefore it should not be treated as an expense. We can show you how you can save as much as 55% by outsourcing to us comparing to doing it yourself.
7How does outsourcing saves me money?
Managing records internally can be very complex and costly due to rising real estate prices / rental rates, and also depreciation costs incurred by system installed such as software to keep track, racking, manpower, & security systems etc. We help you to save as much as 55% compared to storing it in-house.
8What are the legislative / regulation required on document storage?
Under the Malaysia Income Tax Act 1967, companies are required to retain their business records for at least 7 years to enable the tax assessment of the companies for any basis year to be readily ascertained. Moreover, legal implications can arise if a company is not able to provide information on time for tax, audit or legal requirements.
9What are the hidden costs?
There are no hidden costs. We will provide you the detailed price list for each service provided for your clear understanding.
10What the charges of other service like retrieval and pickup?
The fees will be provided in a detailed schedule for your clear understanding.
11Is there any chance the rack will collapse?
Our racking is specially designed by a renowned German company, and its certified Zone 1 earthquake proof, making us one of the very few who have such a high specification racking system installed.
12Are the cartons stored protected?
We have taken all necessary prevention to protect the cartons from fire, sabotage, flood, pest, earthquake and so forth. Furthermore, the cartons are insured by reputable insurance company.
13What is Seismic Zone 1?
The seismic zone map is based on a statistical compilation of past earthquakes’ frequencies and magnitudes. Therefore, it is an indication of where the next earthquake is most likely to occur, how often and the enormity. Malaysia is in Earthquake / Seismic Zone 1, meaning there is one in ten chances that an earthquake will occur within the next fifty years).