Offices large and small typically house a lot of important company documents that are located across various file cabinets and hard drives. While data and information are often essential to company operations, they can also be a substantial liability. Below are some of the risks companies are prone to when storing documents on-site.
Employee Error
The biggest threat to document security and data safety is undoubtedly human error. Many employees frequently leave confidential documents lying on their desk and some even bring sensitive documents home with them. Loose paper documents can lead to document loss, theft and damage. Additionally, physical documents can easily be misfiled or lost in an endless cavern of storage boxes and file cabinets. Everyone understands the panic of having to locate a document for a client or presentation, and spending hours sifting through file cabinets looking for that single document. Everyday employee errors can lead to costly compliance fees and wasted time.
Unused Documents
If your company is storing documents on-site, then there are probably quite a few documents that your team is unaware of. A single document me seem inconsequential until the day arrives when you actually need it. Therefore, your team needs a records management solution that centralizes all of your company documents, so you can instantly retrieve information whenever you need to.
Compliance Failure
Many offices are unaware of the various compliance standards that their documents are subject to. Government regulations and best practice standards require that documents be retained for a certain period of time. Failure to comply with such standards can lead to costly compliance failure fees for your company. A records management solution will ensure that your company documents are retained for the amount of time required.
Document Damage
Unless your office features a top-of-the-line storage vault, your paper documents are left vulnerable to a wide array of damage risks. Paper documents in offices without proper document storage, are susceptible to floods, fires, hurricanes and blizzards. Not to mention typical coffee stains and torn papers.
Storage Costs
The costs associated with storing documents on-site are staggering. Aside from file cabinets and office space, there are also ink, toner and printer expenses. These costs quickly add up to become a large expense burden on your company. These costs could certainly be best spent elsewhere.
The Solution: InStream can build a custom records management solution that is suited to the specific needs of your company. We can either store your documents off-site, or design a workflow solution that digitizes and centralizes your company documents. We will also ensure a document-retention schedule, so your company can effortlessly achieve compliance.
To learn more about Records Management, contact InStream today.
