If every document and record ever created by a business was kept, many companies would be chock full of filing cabinets and would waste resources keeping the papers safe from natural or manmade disasters. Even if such documents were moved on the consumer via electronic means, companies would likely face large fees from database creators or have to invest in numerous hard drives.
According to Daily Report, companies should always have policies in place that dictate what types of records can be destroyed, after what amount of time and in what manner. The source said without regulations, many unnecessary records can be held on to for years, so those that will be needed down the road could be destroyed.
Protecting files by storing them in electronic document management systems can be exceedingly helpful. Not only are some records crucial for years to come, but there are often laws in place that require certain files to be retained. So while some records are being disposed of, making sure other mission-critical documents are safely tucked away in a database can ameliorate the fears of business leaders.
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