“What are we supposed to do with all this paper?” is a question that many of us didn’t expect to be asking ourselves today, yet here we are.
Whether we like it or not, those paper records are not going anywhere anytime soon. Information creation is constant, with no slowdown in sight. According to one study by AIIM, information is going to grow 4.5X over the next few years. At the same time, 80% of organizations told Access that they are still managing over half of their information on paper.
This means there’s going to be a lot more information to manage moving forward and physical documents may literally get lost in the shuffle. Before you risk a content spiral and that office filing cabinet turns into an entire room filled with documents you need to keep, consider moving your paper records offsite.
Moving records offsite goes far beyond plans to go digital or simply get them out of the office. Continue reading for five reasons why companies find storing their records offsite to be beneficial.
Even though many employees are back to working in the office at least part of the time, 75% of companies still report plans to downsize their office space. As organizations re-evaluate and make plans to optimize their real estate investment, they realize that office space can be better utilized to support revenue generating activities instead of storing boxes of paper.
Chances are that your organization pays a high price per square foot of office space. This is important to consider when evaluating how costly it can be to keep records in the office. If you have a whole room filled with filing cabinets, then how much of your rent is going towards that space? Could it be repurposed for additional workstations or even a conference room? By moving your physical records into offsite storage, your organization may see significant cost savings through this newly optimized real estate.
Storage space is always at a premium. While some organizations have dedicated record storage areas within their facilities, few are so lucky. There may be times when confidential files are stored next to the holiday decorations, extra paper towels, and the secret espresso machine. Additionally, most facilities aren’t rated for surviving hurricanes, earthquakes, and other natural disasters. As great as self-storage units are for keeping your out-of-season clothes, they’re no place for confidential records. By storing your records off-site with a professional RIM provider, you can rest assured that those records are far less at risk than they are next to the extra party plates. Offsite storage facilities have the proper fire suppression technology, climate and access controls, and chain of custody to ensure your documents are safe and secure.
Offsite records storage facilities typically have a system to help you track and manage your physical record inventory, while records stored onsite often reside in offices, closets, and file cabinets without a central indexing system. When documents are not well organized, information becomes difficult to find. According to a McKinsey report, employees spend almost 10 hours per week searching for and gathering information.
Utilizing a RIM provider for physical records storage can significantly cut down the time your staff spends searching for specific files, eliminating the need to sift through boxes of paper. By partnering with a provider who is able to deliver stored documents digitally, you can ensure employees have quick access to the information they need from anywhere they work.
Today, privacy legislation is widespread, dictating how companies collect, store, and use personally identifiable information (PII). It’s essential that all organizations know what information they collect and ensure they’re protecting, retaining, and disposing of it in accordance with relevant laws such as HIPAA and GDPR. Non-compliance often results in hefty fines, lawsuits, and a damaged reputation.
When it comes to your physical records, disposing of them once they have met retention guidelines is paramount to compliance. Most offsite record storage companies provide secure shredding services, and in some cases, NAID certified shredding, which is recommended. Once your physical records are destroyed, you should be provided with a certificate of destruction, which can then be used to prove compliance during litigation or an audit.
Offsite records storage companies typically offer much better protection than most office environments. These facilities implement rigorous security protocols to safeguard sensitive information. Employees undergo thorough background checks, and access to storage areas is tightly restricted. Visitors must sign in, be verified, and are often escorted to ensure security.
Advanced surveillance systems, GPS tracking, RFID, and cameras monitor both employees and records in an offsite records storage facility. Many businesses lack the resources to provide such comprehensive security measures such as these, and often, a single layer of security isn’t enough to properly protect sensitive records.
Reputable and mature offsite record storage companies maintain comprehensive security programs as standard practice. For instance, PRISM International offers the Privacy+ certification, which includes SSAE and SOC audits conducted by third parties, ensuring that offsite record storage companies adhere to stringent compliance standards.
By leveraging the expertise and advanced systems of offsite storage providers, organizations can streamline their records management processes, safeguard sensitive information, and free up valuable office space. The next step is to get in touch with a records management consultant regarding your offsite storage needs.
For additional help finding a true records and information management partner, download our eBook, From Vendor to Partner: How the Right Records and Information Management Provider Can Transform Your Program. It will help you screen potential offsite storage partners and find the right one to support your records program.
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