Document retention is essential. It helps keep data organized, helps in ensuring compliance, and is easier to access as time passes.
Many laws require businesses to keep certain types documents indefinitely, such as HIPAA, SOX, FINRA or the Family and Medical Leave Act. Failure to comply could lead to fines or litigation. To ensure compliance with legal requirements, it is best to develop a document storage policy that defines the locations and methods of storage of both physical and digital documents.
The policy should include guidelines for keeping data, defining how long to keep it, and providing clear instructions on how to eliminate useless or expired data. It should also contain an ongoing system of reviewing and updating policies to be in tune with the ever-changing business processes.
Using a document management system (DMS) allows for the simple storage of important records with built-in security measures to protect them from dataroomcorp.com/best-practices-for-secure-document-retention unauthorized access or misuse. This reduces the risk and provide peace of mind for everyone involved. The DMS facilitates users to locate and retrieve important documents, while also ensuring that records are accessible to those who require them. Consider using a DMS with automated workflows, PDF tools and collaboration features to boost efficiency. This will help save time, resources, and money while allowing employees to concentrate on their job.