Document Archiving: Paper Or Paperless?

When it comes to document archiving, you have two options at your disposal – to go paperless or to store paper documents. Deciding between the two can be a difficult decision. We seem to be moving more and more of our business digital nowadays, however, not everyone wants to move away from the traditional approach. They also worry that their documents aren’t going to be safe if they are kept in the cloud, but there are security concerns no matter what way you look at it. With that being said, continue reading to discover the points to consider when deciding whether to go paper or paperless for your business archives.   

The law

The first thing you need to consider is the fact that there is legislation in place when it comes to archiving documents. You are not able to store everything digitally, as some laws state that you need to keep records of certain documents for a specific period of time. It is vital that you get to grips with regulations, as you could find yourself failing to achieve compliance, which could result in fines for your business.

Nevertheless, once the period is over that you no longer need to keep the documents in question, get rid of them. Not only will you be freeing up storage space at your business, but also you will reduce the chance of a data breach by getting rid of documents that contain sensitive data about your business.

Security

As touched upon in the introduction, the next concern becomes security. A lot of people worry that their documents are going to get lost in the cloud. However, there is then the risk that if you do not back up your files digitally, they could get lost if a disaster occurs, such as a fire or a theft. Therefore, no matter what option to go for, it is essential to make sure everything is secured effectively. Look for managed services that prioritise security so you can be sure your documents are stored in the cloud safely.

Efficency
One advantage of going paperless is the fact that you will boost efficiency, as it is easier to get organized. Moreover, when you keep everything in paper format, you can waste a lot of time at your business, as employees spend approximately 20 percent of their time searching for the files and documents they need to finalise their tasks. It is hardly a productive use of their time – to be tracking down documents in a filing cabinet. By switching to digital files, you can essentially make your business 20 per cent more productive.

Collaboration

The final thing to consider is that keeping things online will boost collaboration and flexible working. All of your employees will be able to access documents, boosting productivity. Once a file has been updated, everyone else will have to access to it, rather than employees having to chase one and other. However, there are some documents that business owners will not want to be open to their employees, and this is when paper storage may be considered.

As you can see, a healthy mixture of paper and paperless document archiving is advised. There is no right or wrong answer; it is all about determining what is right for your business.