A new Business Function may need to be added to represent a new Function of the Business whether you acquire a new company or expand the Retention Schedule should always reflect the Business. So new Functions may need to be added over time. 

Select the ADD Button in the Top Right Corner.
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A pop up window will appear. 

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Name. Business Functions Name.
Group. Choose an existing group, or create a new one.  Think of groups as a higher level in your hierarchy in which business functions are tied.  For example, if there’s a group called US Corporate and another group called Europe, they can be segregated from each other.  If you have more than one group, All Department Groups, on the top right of the business functions screen lets you view all groups, or just one.
Record Types. Copy a record type list from an existing function to the new function by using the RECORD TYPES drop down.  This is beneficial when creating similar functions, as you have the ability to customize the record types for the new functions later.  Choose CREATE NEW DEPARTMENT to start your new functions with no record types.
Contact. The Email Address of the Records Coordinator or Employee who would receive the disposal notice for that Function.