Document management and storage are crucial for every organization, regardless of whether it’s a digitally-driven company or one that heavily on paper-based processes. Secure document retention protects the privacy of privileged information, organizes files and provides streamlined access for users while meeting legal and compliance requirements.
Despite the benefits that come with a clearly defined policy for document retention, many organizations struggle to establish a policy that is effective and compliant. This is especially the case when a company doesn’t have the appropriate tools to effectively manage its records or fails to implement the practices as a part of a security culture.
Secure Document Retention
A comprehensive document retention plan ensures that a business has the documentation necessary to respond to Freedom of Information Act or help in a legal proceeding. It will also ensure that the business adheres to the requirements of regulatory agencies such as data security and privacy laws or records of financial records, such as anti-money laundering and terrorist financing regulations.
A document retention system does not just ensure that documents are securely stored for as long as they are needed however, it also allows a business to become more efficient by reducing the amount of duplicate documents and redundant data storage. This makes it easier to find and retrieve information quickly, and to create and maintain accurate documents. It also assists in streamlining processes, support a strong security culture in the workplace and minimize the risk of expensive fines for non-compliance.
In the end, a sound document retention policy will include protocols for the safe disposal of physical and electronic documents at the time their storage period ends. This might include shredding documents, destroying hard drives or otherwise securely clearing and deleting data from servers and cloud platforms.
