Since the dawn of business, company information has needed to be stored and managed in one way or another. From receipts and employee information, to business records and data. Over the past fifty years, new technology and accompanying record storage options have emerged, evolved, and been adopted by businesses worldwide to compete with traditional hard-copy record keeping.
So, the true question is, which record storage methods are most appropriate for your business? Though there are advantages and disadvantages to every method of record management, most business owners can simplify their decision. They can determine which method will work best for their company’s storage and risk management needs.
Modern Record Storage Methods
Companies manage numerous types of records both internally and externally. Just as they usually cover a range of information types, there are various formats to store your records in:
Hard-Copy Record Storage
Much as its name might imply, hard-copy record storage entails the organization and management of business records in paper formats. Although a single piece of paper may not seem to occupy much space, documents and records can quickly begin to stack as your company grows.
An average filing cabinet already taking up as much as 20 square feet of office space. This stores only a portion of your documents. Many modern businesses still utilizing hard-copy data storage have now enlisted the services of offsite data storage. This helps better organize and manage their records.
Digital Record Storage
Electronic records, more commonly known as digital records, have come to quickly dominate the world of business record storage and management, and are primarily either Electronic Document Management Systems (EDMS), or cloud-based.
In contrast with hard-copy data storage, digital files take up a whole lot less space. This enables them to be compiled with thousands of other records and documents on a small thumb drive or on cloud storage. As opposed to in a clunky filing cabinet. They have an additional ease of accessibility and ability to be updated or modified at a moment’s notice. Many business owners needing constant access to company information have begun to convert to digital record storage.
Which Record Management Style Works Best for Your Business?
To help identify the ideal record storage practices for your company, business should first ask themselves a few questions:
How large is your business?
While a massive company could become quickly overwhelmed with the sheer quantity of information being produced and stored regularly, a small business may still be able to handle a small and well organized amount.
What sort of records and documents does your business handle?
Given the ease of access and manipulation of digital documents, companies responsible for managing legal or financial records with highly sensitive information may want to consider traditional hard-copy storage.
How many employees need access to company records and data, and how often?
Offsite hard-copy record storage services, although secure, can become an inefficient time expense. Especially if either you or your employees must leave the office every day to reference a file.
As you can see, record storage and management has certainly adapted and evolved to provide business owners additional options over the years, but no matter whether a corporate mammoth, or a small family-owned company, all businesses need to consider their own storage needs to find what works for them.
Get Free Quotes On Digital or Hard-Copy Record Storage Today
Record Nations can help you to find the ideal record storage and management service for your business needs. Come see why we are the first choice for all data and record management solutions.
Record Nations works with a team of professionals and contractors who are able to provide both digital and hard-copy document management and storage service options for your business. Whether your business records are stored in their original paper format, or updated to join the digital world with a document scanning service, our data storage solutions will help to keep your documents organized and safely stored.
To learn more about our record storage services available for your business, start by filling out the form to the right, or give our experts a call at (866) 385-3706 today!
- It is important that your business has a policy for storing company records. Keeping them organized and secure also plays a key role. Developing a plan to document filing, retention, and protection can help to ease this process.