Rimage's recent Data Archiving Study found that document management is becoming an elevated priority for businesses. More than 33 percent of respondents reported that certain company files need to be archived up to 50 years, and 98.4 percent recognize consequences when data is not archived effectively. And according to a study by Image Net Consulting, 7.5 percent of a business's documents are lost due to poor archiving.
Losing data can be particularly detrimental to a business because of expenses necessary to reproduce documents. Image Net Consulting's statistics revealed that it costs companies an average of $120 to find a misplaced document and $220 to reproduce a lost document.
The increasing concern over proper archiving stems from the rising value of data, particularly financial records, medical records and legal documents which require extensive storage and security. More than 90 percent of respondents claimed that security is urgent for some business files, and more than 98 percent of business executives reported they recognize the negative impact of improper data archiving, citing the loss of important intellectual property, company law violations and fines.
Document conversion services that provide advanced archiving systems and digital copies of data could potentially eliminate many of these concerns with highly sensitive business files.
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