Document retention is a huge issue. It helps keep data well-organized, assists in compliance, and makes it easier to access over time.
There are many laws requiring businesses to keep certain kinds of documents for a variety of periods like HIPAA (healthcare), SOX, FINRA (financial), or Family and Medical Leave Act (labor). Failure to comply could lead to fines or litigation. To ensure legal compliance it is recommended to establish a document storage policy that outlines where and how to store both digital and physical documents.
The policy should contain guidelines on how to store data, specify the amount of time for which it should be kept and outline the steps to follow to securely destroy obsolete or ineffective data. It should also contain an ongoing process of reviewing and revising policies to keep up with the ever-changing business processes.
A document management system (DMS) is a computer program that allows you to save important documents, comes with security features to protect them against unauthorized access and misuse. This can reduce the risk and offer peace of mind for everyone involved. Additionally the DMS will make it easier for users to find and retrieve important documents, while ensuring records are easily accessible by only those who need them. Think about the possibility of a DMS that has automated workflows, PDF tools and collaboration features to boost efficiency. This will help employees save time and money while allowing them to focus on their jobs.
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