Records management is the systematic control of records throughout their life cycle—from the moment they are created to the moment they are destroyed or transferred to the Archives for permanent retention. It ensures that institutional records of vital historical, fiscal, and legal value are identified and preserved, and that non-essential records are discarded in a timely manner according to established guidelines. Benefits of records management include more effective management of current records (both paper and electronic); a reduced/eliminated level of record-keeping redundancies; reduced costs for records storage equipment and supplies; and increased usable office space through the elimination of unnecessary file storage. In addition, records management provides institutional accountability and timely access to information.

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