Document management and storage is essential for any organization, whether it’s a digitally-driven company or one that is heavily reliant on paper-based processes. Secure document retention protects the confidentiality of confidential information, organizes documents and allows users to access them easily while meeting the legal and regulatory requirements.
Despite the benefits of having a well-defined policy regarding document retention, many organizations find it difficult to implement a system that is efficient and complies with. This is particularly an issue when a company does not have the tools needed to manage their records effectively or fails to implement these practices into their security culture.
Secure Document Retention
A comprehensive document retention policy will ensure that businesses have the proper documentation in order for responding to Freedom of Information Act requests or to aid in court cases. It ensures that an organization is in compliance with regulatory requirements like privacy laws governing data and financial record-keeping regulations, like anti-money-laundering regulations or regulations governing terrorist financing.
A document retention system does not just ensure that documents are safe for as long as they are needed and also helps businesses improve efficiency by reducing the amount of duplicate documents and redundant data storage. This allows you to locate and retrieve information quickly, as well as to create and maintain accurate documents. It assists in streamlining processes, encourages a strong security culture in the workplace and decreases the chance of costly penalties for non-compliance.
Finally, a successful document retention policy includes protocols for safely disposing of documents both electronic and physical after their storage period has ended. This could https://dataroomcorp.com/best-practices-for-secure-document-retention/ mean shredding physical documents, dismantling hard drives, or in other ways clearing and deleting information from servers and cloud platforms.