Document archiving is securely storing files containing important information (both digital and paper format) that you no longer regularly use. Archiving is significant because not only does it stop you from losing data, but it also ensures that only the right people can access these documents. Archiving also keeps files organized and accessible. Valuable storage space both in your office and server is saved.
The key reason to start document archiving is to avoid losing your data. All files are vulnerable to being corrupted or hacked (if digital) and destroyed maliciously, by accident, or by a natural disaster.
Files digitally stored can be compromised by security threats, power failure, computer malfunctions, and software or hardware failure. One way to archive your files is to convert them from PDF to PDFA to ensure security. PDF/A is a variation of the PDF format that guarantees documents to be reproduced the exact same way the original looks, regardless of what software is used. All the necessary information and its elements, in the same manner, are embedded in the file -- leaving your documents secured, accessible, and safe for the long term.
Paper documents are also vulnerable and can be lost through human error, theft, or an act of God. These can all be prevented by correctly archiving your documents.
Reasons Why Document Archiving is Important
1.Archiving Is Essential To Organizing:
Archiving documents means organizing them, and having organized files makes locating and accessing them less time-consuming and easier. Correctly archiving your files gives your employees quicker yet secure access to the information right when they need it. This action results in less downtime and fewer delays.
Several companies choose to use document management tools to store, manage, and access their records. Using this kind of software has various benefits that come with it. You can track when members of your team access or revise a document or when they request to archive one. It also allows users to securely access digital files as long as they have an internet connection.
An additional layer of protection is affixed when you archive your digital documents. You have the option to add a password that only certain people know and making the files accessible only to those with authority. Document management software creates an audit trail so you can monitor and track who has accessed, edited, or removed documents and receive real-time updates.
Archived paper files are more protected and secure as document management companies ensure that only company staff who have permission can access them. Every file taken out of the storage is recorded and so are its whereabouts.
Digital archiving is also vital if the worst should happen to your business. Back-ups and soft copies of your documents make the disaster recovery process quicker.
3.Saves Up Space:
By archiving your documents, you can save up on space and storage. Digitally converting paper files means you can get rid of those paper copies and instead access them via a secure online portal. And when you archive your company's data, reduced costs can be as much as 50%, depending on the volume of your documents. Alternatively, you can store your paper documents off-site to save space.
4.Records can easily be audited and retrieved for legal reasons:
Auditing involves examining documents of your company and confirming their accuracy. This task can be done by your employees or by an external auditor. Document archiving makes the process easier and quicker since auditors can readily access files needed and saves time and hassle.
Documents regarding legal claims are also easy to access when they are well-organized. You can promptly provide these legal files in situations where they are needed.
5.Prevents Losing Data:
Losing documents, especially those with great significance, is bound to have consequences. It can negatively affect the productivity of the employees since it could take hours to recover lost files. Lost files mean the team is unable to work. And the more documents lost, the more downtime the company will experience.
Misplaced documents related to your client and their personal information do not only cause loss of their trust but may also lead to a lawsuit. Losing confidential data or people without authority accessing it means breaching the General Data Protection Regulation. There are several possible consequences to this, including but not limited to criminal prosecution and fines. Involvement with problems like this may lead to unwanted media attention to your business, leading to harm to your reputation.
The easiest way to prevent this is to protect and secure your documents by archiving them. There are various records management companies that offer archiving services to ensure the security of your documents.
Ways to Archive Hard-Copy Documents
You can store and archive your paper files either on your premises or off-site. Putting documents on-site can take up a lot of space and may not be as protected and secure as storing them in purpose-built facilities. These facilities are built specifically to keep documents secured. They usually offer security features such as CCTV cameras and protection from natural disasters such as fires and flooding.
You can archive hard-copy documents on your premises or off-site. Storing documents on-site can take up a lot of room and may not be as secure as keeping them in purpose-built facilities. Purpose-built facilities usually have security features (including restricted access) and offer protection from flooding and fire.
Digital document management solutions make storing, archiving, and retrieving documents more manageable. Folders and boxes have designated barcodes that are scanned before you put the files into storage. This system helps in managing and allows you to know which documents are kept in which box. It also allows you to track your files when being delivered by a delivery service to your company.
How to Ensure the Security of the Documents
If you are storing your data and records on your premises:
A document management company can do all of these for you and store your data off-site to free up storage and space on your premises.
Archiving your documents can save you from a lot of trouble. Not only does it help in saving valuable space and storage in your office, but it also keeps your files secured. Implementing this sure does benefit your company.