Office Record Storage…necessary Evil???

Many times in business, office records storage is a necessary evil. Having all of your records backed up can save you in the case of litigation, natural disaster, or anything else that can be unforeseen. But you need to make sure that you go about it the right way in order to ensure that you are protected, so what should you do?

You could store your records the old fashioned way by loading up boxes of paperwork or getting a few file cabinets, but how safe is that from the unknown? Should your office experience a flood for example, your records could be lost forever. This is in addition to the extra space that the boxes and file cabinets will take up. At some point in time you may have to face the fact that you need a little bit of help with your office record storage needs.

Professional Record Storage Solution

There are many companies that specialize in office records storage and they can help you store your records whether your records are online, on paper, or both. Here’s how many of these companies work: Read More

Indeed records management crosses numerous disciplines. Did you know…

• That categorization and indexing are two elements that are critical to the success of a records management program? Sounds a little like knowledge management.

• That vital records preservation is one of the key steps in developing a disaster recovery plan? Sounds like infrastructure management.

• That by ignoring records management policies employees and their companies can potentially end up facing criminal penalties? Sounds like a legal profession.

• What led to Arthur Andersen’s downfall? Shredding - inappropriate shredding - shredding of records that should have been retained according to the policies of both Andersen and Enron.

Despite what people may say, what you don’t know can hurt you and, in the case of records management, what you choose to ignore can cripple you and your organization.

Recent dramatic headlines have made it quite apparent that records management (or the lack thereof) is an essential activity to ascertain and confirm the credibility of many business transactions and government activities. The proliferation of electronic documents (especially e-mails) and the potential litigation exposure that they cause are becoming the bane of legal advisers and records managers in many corporations and government agencies. Microsoft, Texaco and other Fortune 500 companies have taken hits from “runaway” e-mails introduced as evidence in high stakes cases. READ MORE…

By Emily Leach

Records Management is an important part of every business. Choosing the right Records Management Strategy for each specific business, however, is as unique as the company itself. For example, while it’s important to keep current records and documents close by, it’s also necessary to file older records out of the way so that you’re not tripping over them on a daily basis. And still, you need to be able to have access to the files when they are needed for research, audit, or a customer issue. All of which begs the question what is the right strategy for my business and our files?

To start, there are two main ways of keeping your older, legacy business records. You can choose to either store the hard copy original records in paper format, or scan them to digital images (PDF, for example.). There are advantages to both methods and the decision is based on your specific business requirements.

Electing to store your paper files involves placing records in file cabinets, and eventually boxes so that they can be physically retrieved when needed. By electing to keep the paper files, you will be able to maintain complete file integrity, including any important notes or information that may be included in the files. In some businesses this extra information is very important and needs to be kept with the file. While scanning can replicate many of the features of having notes and other inclusions, it’s often best to retain these types of documents in hard-copy format.

Storing records in paper format, however, can take up a lot of space and is best done in a storage facility. Placing older documents in file storage boxes allows you to send your records to an outsourced storage facility, where they’ll be safer and more secure. An off-site storage facility is typically the best option for maintaining your records long-term.

Keep in mind that Boxes of old records take up valuable office space. In addition, if you choose to maintain paper documents, locating stored items needs to be as simple as possible. It’s often quite a task to locate an older file if you don’t have good storage and organization system. A professional company that specializes in records management will provide you with the best option since they can take over the entire storage process. They will organize and store your records and if you need a particular file you simply need to request it.

If you feel that keeping hard-copy, paper records is not for you, then you may want to consider scanning documents and storing them on disc or hard drive. Scanning records for storage can reduce the amount of physical storage space necessary, and can also provide immediate search and retrieval capabilities. Scanning is typically best when you have files that are very similar to each other and the information can be easily indexed. This is important to note, as each and every document will need to be tagged with some sort of Metadata, or keywords that will allow for easy search and retrieval later on.

Having files in an electronic format can help when you need to send or share information. Scanned files can be retrieved easily when needed. It can also help to enable access to the same files from multiple locations at the same time, meaning that whether you are at home, in the office, or traveling abroad, you can still have access to the same information from your files.

An important factor to understand is cost. The real measure of which option is right for your business will come down to cost and frequency of retrieval. If no one will ever look at a file, or a box of files again, but you need to keep them for a certain period of time, then off-site file storage is likely your best option. This is because without retrievals, the costs of scanning a box pulling staples, time spent scanning, and indexing the metadata will likely exceed the cost of storage by a 10:1 Ratio. This means that you could store Ten Boxes for Seven Years, for the cost of scanning just one upfront. If, however, your staff will need access to these files frequency, these numbers can reverse rapidly, making scanning the more cost effective option.

When you begin to consider storage or scanning of your documents you may begin to realize the enormity of the project. If you do the project in-house you’ll need manpower and storage space as well as a good method of filing and retrieval. To eliminate these problems it is recommended that you use a professional records management company. They can provide you with the fastest, easiest and most affordable solution to document storage. The final decision to store or scan your business documents is ultimately up to you. There is no universal answer but there are factors to consider that may make one option better suited for your business.

Keep in mind that this decision is part of a long-term business strategy that will give your company a better way to keep and locate documents when needed. Document and Record storage is one area that you and your management team are probably not concerned with on a day to day basis, so if you’re still not certain which strategy to pursue, it’s often best to consult with a records management company who can help you determine the best solution for your business.

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