Why Archiving Is So Important
Four reasons why archiving is so important for businesses and individuals.
1. Regulatory Requirements
These days, data protection is something most businesses are keenly aware of. In light of important recent updates to the Data Protection Act (GDPR, anyone?), businesses are now under increasing pressure to properly and securely manage consumer data—or else face hefty fines. That requires them to have effective data management processes and secure document storage solutions.
Other regulatory requirements dictate that certain financial records be kept for a set number of years. Document archiving can help businesses to meet these requirements by allowing them to safely store data and documents until they’re no longer required and can be destroyed.
2. Reduce Costs & Save Space
Whether you’re running a big international company or fledgling startup, it’s important to save costs where you can. Document archiving can help with this by freeing up space and reducing operational costs. The fewer documents you have on-site to manage, the less time and money has to be spent on managing them.
3. Improve Workflow & Performance
Proper document archiving can improve your business workflow and performance. According to estimates, as much as 80 percent of production data doesn’t need to be readily accessible. By archiving this non-critical data, you can streamline access to the rest of your data and potentially improve your performance.
4. Identity Theft Protection
It’s not just businesses that benefit from archiving either. All of us have important documents that could potentially be used for identity theft.
Worryingly, a report from the Consumer National Research Centre found that a quarter of Americans have at some point lost an important document. (And in the UK, we’re not far behind.) This shows just how important it is to make sure you’ve stored your documents away safely.
These four tips hopefully explain why document archiving is so important for both business and personal use. Hopefully, you’ll now be able to make a more informed decision about the best way to store your documents.
Please contact us if you have any questions about document storage or archiving.