Why You Should Switch to Electronic Storage for Your Seven Years of Records Requirement

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The business world is turning more and more paperless, but there are still a lot of legal documents, financial records, and mailed communications to keep track of. Rather than devote an area of your office to the storage and maintenance of physical documents, consider switching to electronic files. Here’s why:

Electronic files don’t take up as much space. They do still take up some space, either in the form of a dedicated server or on the cloud. But that’s only a small fraction of the space necessary to keep the records in paper form. Many businesses, especially paperwork-heavy and records businesses like title companies and financial institutions have to keep records for seven or more years. Even the bulkiest scanners and PDF file types are easier on your rent.

It’s easier to find both information and holes in your information. The reason companies have to maintain records include potential audits and suits or claims. So just having the records somewhere in a file room isn’t enough: you have to be able to produce the record in a timely and efficient manner. Electronic files are much easier to search through, either by an organized folder or file naming system or just through a search. The speed also means you can know more quickly if you’re missing a record and plan accordingly.

Seven years’ worth of paperwork can fill up a room. If you have a downtown office, that loss of physical space can hamper your business just as much as not being able to locate one document out of millions. Go to Imagex, Inc. to find the right electronic scanning system for your company.