https://dataroomcorp.com/best-practices-for-secure-document-retention/
Document retention is a big deal. It helps to keep documents organized aids in compliance and makes it easier to access in the future.
Many laws require companies to keep certain kinds of documents for a certain period of time, such as HIPAA, SOX, FINRA or the Family and Medical Leave Act. Infractions to these laws could result in fines or litigation. The best way to ensure compliance with the law is to develop a written document storage policy which outlines the best way to store digital and physical documents.
The policy should include guidelines on how to store data, define the length of time that it will be kept and provide clear steps for safely destroying outdated or unusable data. It should also contain an ongoing review and revision of policies to be in tune with the evolving business processes.
A document management system (DMS), which is a software that allows you to store important documents, has built-in security features to protect them against misuse and unauthorized access. This helps reduce risk and provide peace of mind for all parties. The DMS allows users to locate and retrieve important documents, while making sure that documents are only accessible to those who require them. To further improve efficiency, think about a DMS that can automate workflows, additional PDF tools, and collaboration capabilities. This will help employees save time, money, and resources while allowing them to focus on their jobs.
