Have you spent minutes, maybe even hours, searching for a lost document or file? More often than not, companies that manually manage their physical records misplace and even permanently lose important documents. Searching for missing items cost the company time, labor and money. On a larger scale the consequences can also include legal problems, regulatory violations and security risks.
With companies starting to shift away from paper records to electronic records, the management of physical items is often overlooked when creating a data management plan. However, paper records and physical assets are still very much present. According to AIIM 56% of organization continue to experience a steady increase in their volume of paper records. A growing volume of paper records require a Physical Records Management (PRM) solution.
Key Advantages of a PRM:
- Reduce the amount of misplaced and lost files
- Meet regulatory compliance to reduce legal risk
- Retain records for as long as needed, and destruction when needed
- Decrease auditing time
- Increase staff productivity and overall efficiency by improving information retrieval
- Secure access to confidential files and documents
- Track where records are and where they have been