Records management is no joke as hackers and other more basic threats like floods and fire must be considered. A company’s reputation is not the only thing on the line. A data breach can ruin a company financially. Huffington Post published Verizon’s 2015 Data Breach Report claiming that 100 records lost costs an organization on average between $18,120 at the low end of the spectrum and as much as $35,730.
1. Onsite space is insufficient.
Actual physical storage space is in high demand and can become a problem quickly as businesses grow. For all companies, growth is both necessary and challenging. While sensitive computer documents demand their own type of space, there are still plenty of physical files saved by many companies. These companies should not be spending unnecessarily high-rental office rates to store files when there is cheaper third-party space available to manage storage needs.
2. It’s cost-effective.
Transfering the considerable task of record management to offsite specialists in record management can free up expensive office space and employees’ time so they can focus on revenue-generating tasks. Specifically, small businesses aren’t in a position to hire employees for the purpose of focusing entirely on record management duties. Like so many specialty business tasks, the only prudent way companies can afford the best storage options available is to outsource them to businesses whose sole job is to stay on top of the changing storage landscape.
3. Sophisticated partners specializing in record storage offer affordable expertise.
Storage solutions are rapidly changing. Forbes reports that storage has evolved from physical boxes of spinning disks to encrypted Flash storage that includes deduplication. Small and medium-sized businesses can’t afford to hire experts to keep up with the dizzying pace of storage technological changes.
4. Easy retrieval.
Offsite storage partners index and categorize each box of information for easy retrieval. This type of offsite partner that specializes in record management makes it easy to retrieve sensitive information as needed. There is absolutely no reason for you to waste valuable time digging through boxes of information for that contract or signature that is suddenly a top priority to find.
5. Compliance
Certain types of data require specific storage procedures to comply with government regulations. Medical and financial records are especially impacted. Like all regulatory policies, breaking these business rules can cost your company. Fines can be steep. That’s why it makes sense to depend on a storage partner who is tapped into these regulatory changes.
Takeaway
Finding a storage partner who specializes in offsite storage makes sense financially. There is no reason to risk your business reputation and the significant cost of losing sensitive data.