The danger of not archiving and preserving information

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Blog / Docsuite Archiving
Technological advances over the past two decades have not only affected our personal lives but also the business world. Although it has created business opportunities, it has also raised challenges. The biggest challenge that organizations around the world face is the challenge of managing information effectively. Whether you are a large organization, an independent professional, or a small business, managing information effectively is one of the keys to successful operations and surviving challenging times.
Most of the information organizations manage is in the form of documents - whether paper or electronic. In fact, the lack of a proper archiving system may pose many risks, which no facility can bear.
Risks that you can avoid by using a records management solution
1. Data loss in the event of a disaster.
The worst nightmare a facility can have is answering customer calls and telling them all their data is gone because the archive room is on fire! Well, it may not be that dramatic, but let's face it you have to be willing to give your best and prepare for the worst, like a natural or man-made disaster. The best way to protect business documents is to implement an electronic archiving system that not only helps you to manage paper documents but also helps you manage digital files. Moreover, while the only real way to back up paper documents is to make copies of them and add them to your paper record, Digital files can be easily backed up and restored in a matter of minutes.
2. Over time and cost.
Paper archives take a lot of time to become a source of information in the long run. Not only is it difficult to fetch information from a physical document library (especially an off-site one), it also causes a whole host of tasks associated with a business process to be queued; This leads to project delays and possible cost escalation. You may not feel the pressure during times when work is relatively low, but in times of recession, investing in an electronic archiving system like DocSuite can mean lower costs when it matters most, as well as no longer needing tons of consumables and large spaces (ok , maybe a few hundred square metres!) of space rented to house your documents; And a dedicated (paid) staff to manage all of this. Other things are consistent and lower costs usually translate into a lower net worth.
3. Communication gaps.
Most business processes include conceptualization, iterations, research, decision, implementation, review and follow-up. Multiple sections are involved in the entire exercise. When the source documents are not accessible to every stakeholder in the business process, this can hinder the smooth communication of ideas and relevant data. This, in turn, leads to other serious risks.
4. Bad or wrong decisions.
Gaps in communication indicate that your employees may not have received complete data to carry out their tasks as expected. This is especially true when some team members have the required documents in their possession, while other members do not. Decision makers are faced with time-bound targets that they must achieve. If a business decision is made quickly and with incomplete data or without the required input from the entire team, it could result in a loss in terms of revenue, market share or other performance indicators.
5. Missing the opportunity to please customers.
When the customer-facing team has all the documents they need in one app, they will have more confidence in handling customer problems. But if the source documents have to be retrieved from a box file in another corner of the office building, don't expect the client to wait or wait patiently for long - you've just lost a great opportunity. Electronic archiving can come to the rescue. Obtaining all the information a customer needs means "first contact solution" and not repeating calls for the same problem.
6. Loss of competitive advantage.
Companies that have an electronic archiving system are in a much better position to succeed in today's digital age. Better communications, lower costs, faster cycle times, and improved levels of productivity and quality - all of which make the facility highly competitive and give its competitors a run for their money. The lack of a proper archiving system means that you may lose these performance indicators and, in turn, may lose your competitive advantage over a period of time.
7. Loss of reputation.
Small lapses in customer service levels may not be so harmful. But when an organization's document management policy (or lack of such a policy) leads to a serious strategic or tactical error, this may lead to serious damage to the company's reputation. This could endanger the firm's position in the market in the long term, and have a gradual impact on other business areas.
Business impacts of data loss
Data loss is a major inconvenience that disrupts the day-to-day function of any information-based business. When important files and documents are lost, your organization must spend time and resources re-creating these files or recovering these files to bridge the gaps left by the loss. Although you may be able to locate hard copies of the information, these copies may not be as up-to-date as the digital copies that have been lost. Data loss caused by corruption or viruses causes particular problems, as it can sometimes be difficult to determine the extent of data loss. Disposing and repairing corrupted files can be costly for your facility.
Common causes of information loss
●     Viruses and malware
Most people think of viruses when you ask them about the reasons that may lead to data loss. For the facility

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Category: Docsuite Archiving

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