Secure Document Retention

Document management and storage is essential for any business, whether it’s a digitally-driven company or one that relies heavily on paper-based processes. Secure document retention ensures the privacy of privileged information, organizes files and allows for streamlined access for users, while also complying with the legal and compliance requirements.

Despite the benefits of a established document retention policy, many organizations struggle to implement one that’s efficient and compliant. This is particularly true when an organization lacks the tools to manage its records efficiently or fails to incorporate security https://dataroomcorp.com/best-practices-for-secure-document-retention/ practices into their organization’s culture.

Secure Document Retention

A comprehensive document retention plan ensures that the business has the proper documentation in order in order to answer Freedom of Information Act requests or to support a court case. It ensures that an organization adheres to regulatory requirements like privacy laws governing data and financial record keeping regulations, like anti-money-laundering regulations or regulations for financing terrorists.

A document retention system not only ensures that documents are kept safe for as long as necessary, but also allows a business to improve efficiency by reducing the amount of duplicate documents and redundant data storage. This makes it easier to locate and retrieve information quickly, and to create and maintain accurate documents. It also assists in streamlining processes, foster a solid corporate culture of security and reduce the risk of paying costly penalties for non-compliance.

Lastly, an effective document retention policy includes protocols for safely disposing of documents both electronic and physical at the time their storage period has ended. This might include shredding documents, destroying hard drives, or clearing and deleting data from cloud and server platforms.