The implications and risks of document storage

Storing and archiving physical documentsThe implications

Significant costs associated with physical storage and retrieval

Limitations on document access and sharing

The risks

High potential for loss or damage

Exposes business to malicious activity or theft

No digital audit trail or management

Inflexible access goes against flexible or remote working

Difficulty in providing viable reporting

Multiple digital storage locationsThe implications

Lack of visibility, governance, traceability and version control

Difficulty in developing a digital journey

Security and back-up likely to be impaired

The risks

Multiple stored documents increase the volume of storage required

Lost or unrecoverable documents can lead to penalties

Exposes business to malicious activity or theft

Difficulty securing IP, financial information or sensitive data

No single view of the truth

Slows down or even undermines business growth

High risk of data regulations breach (GDPR)

Poor quality of document scanning The implications

Makes digital documents hard to read, especially images and detailed drawings

Limited ability to index for easy retrieval

The risks

Missed information and detail which can lead to poor business decisions or penalties

Prevents software from reading and indexing documents

Your staff will be unable to text search and retrieve documents