Document retention is a big issue. It helps keep data well-organized, assists in compliance, and makes it easier to access over time.
Many laws require businesses to keep certain types documents for an indefinite period, including HIPAA, SOX, FINRA, or the Family and Medical Leave Act. Non-compliance could result in legal action or fines. The best method to ensure legal compliance is to develop a written document storage policy that outlines the manner and location of storage for digital and physical documents.
The policy should include guidelines for how to keep data, define the length of time that it will be kept and provide clear steps to securely dispose of obsolete or ineffective data. It should also include a procedure to review and update the policies regularly to keep up with changing business operations.
A document management system (DMS), which is a software that allows you to save important documents, has built-in security features that guard against unauthorized access and abuse. This reduces risk and provide peace of mind for all parties. The DMS facilitates users to locate and retrieve important documents, while ensuring that records are only accessible to those who require them. To increase efficiency, think about a DMS that offers automated workflows, additional PDF https://dataroomcorp.com/best-practices-for-secure-document-retention/ tools, and collaboration features. This will help employees save time and money while allowing them to focus on their jobs.