Self-Storage of Business Records May Not Be a Great Idea
Self-storage units are an excellent option for stowing your excess furniture, lawn equipment, seasonal goods, outgrown clothes or toys, and other such personal items. However, it may not be the best way to store and preserve your business related files and documents. While it may seem like an easy and quick fix to stuff boxes, self-storage is not a sustainable option for any business, small or large.
The experts at Crown Information Management discuss the likely impact of self-storage for business records, and why hiring a professional records management service may be better for your business.
Top Five Disadvantages of Preserving Business Records in Self-Storage
What happens when you need to find specific records for the purpose of audit queries, legal proceedings, or some other business related transactions? Even if you have devised efficient mechanisms for sorting, filing, and storing your paper records, you may face a number of issues:
- Preservation and Safekeeping: Over the years, paper tends to lose its integrity, and exposure to the elements further deteriorates its quality. Whether it is temperature, humidity, pests and rodents, general cleanliness, or issues such as floods or fires, there are various aspects that could threaten the safety of your business records in a self-storage unit.
- Space Utilization and Cost: From compact lockers to sprawling units, you may be able to rent out self-storage facilities in varying sizes and capacities. However, if the unit size you choose is disproportionate to the volume of records you maintain, you may either run out of space frequently, or pay for space that you are not fully utilizing.
- Retrieval and Accessibility: Time-sensitive document retrieval would mean redirecting multiple resources towards this search. This may lead to a loss of valuable time and productivity. Combing through heaps of boxes or accessing something that may be at the far end of the storage unit will only add to the inconvenience and delays.
- Variation in Storage: In the absence of a formal document management policy, the method of sorting, indexing, filing, and tracking records that you put into storage may differ based on the individuals in-charge. This could further complicate and cause a delay in the timely retrieval of documents.
- Compliance: There may be a number of federal, state, and industry-specific privacy protection laws applicable to your business. This requires rigorous tracking of all the applicable regulations and a systematic approach to remain compliant with the recommended preservation or disposal norms. Non-compliance could lead to a number of issues for your business, including reputation and revenue loss, customer attrition, and expensive lawsuits.
Hire Professional Record Management Services for Safe Storage of Paper Documents
- We follow a meticulous approach to sorting, classifying, storing, tracking, and retrieving your documents in a timely and efficient manner. We are also open to adopting your company specific coding, indexing or classification norms while archiving your business records.
- Our qualified and experienced information management specialists stay abreast of all regulatory and industry specific norms related to records preservation and destruction. We help you remain compliant with the relevant guidelines applicable to your business.
- Our state-of-the-art storage facility provides a clean, pest-free, temperature and humidity-controlled, and electronically monitored, safe environment. Our goal is to secure your physical records and maintain their integrity at all times.
For safe, reliable and cost-effective record management plans, count on the experts at Crown Information Management. Call us at 800-979-9545 or contact us online to request a free estimate.