Record storage may seem like something that executives can easily put on the back burner and get back to when time allows. However, doing so can cause this important practice to fall by the wayside and the failure can rear its ugly head in several different and very inopportune ways.

The Importance of Document Storage

A recent press release from a document management company expresses the importance of a proper record management solution. Aside from staying organized, there are also various laws, rules and regulations that businesses need to keep track of or fear running into potential legal trouble.

“An organization’s business is only as secure as its records management program,” one executive said in the release. “Losing or misplacing information costs you time, money and, in some cases, could even mean the loss of your business. Developing a plan to protect your data is crucial.”

It’s that argument that has many companies looking to partner with a document management service to solidify its record and information management programs including storage, retention and secure destruction solutions. Failure to have, and adhere strictly to, a records and information management program can result in monetary fines, and even jail time for executives and company owners found to be missing critical documents.

The release goes on to talk about a few key areas that companies need to consider when picking a solution provider. First off, timeliness is essential and businesses need to make sure any company that is in charge of storage and organization of its files can be access day or night.

Second, off-site storage can pay dividends in the event of a flood or other disaster that may befall the home office. No company wants to think about picking up the pieces following an event like a hurricane, but knowing all crucial data is safely tucked away can offer peace of mind. Essential records, those needed for continuity in their business in the event of a disaster, may also be imaged and hosted securely separate from the company’s main system.

Finally, open lines of communication are key. Making sure more people in your organization are in the loop as to what your document storage solution and records and information program is can ensure all best practices are met. Your offsite storage provider should be able to assist in creating your program and managing it in a robust document management database program. Once the program and inventory are in the system, the third party provider can help in training your teams.