5 Reasons to Store Your Documents Offsite

Close up of business documents stack on desk report papers stackWhether it’s to support legal requirements or workplace efficiency, document retention is a necessity for every business. But it doesn’t have to have a negative impact on your company’s efficiency, profitability and liability exposure. In this blog, we offer five reasons for storing your documents offsite.

1. Privacy

When retaining personnel records, client files and other documents with personal and medical information, you have a legal and ethical responsibility to protect them. With identity theft and business fraud crimes on the rise, the stakes are high. Breaches of personally identifiable information (PII) or protected health information (PHI) may lead to dire legal consequences.

Offsite document storage prevents unauthorized access to PII and PHI. In a records center, perimeter fencing and monitored code-access gates allow access only to background-screened records management professionals. Inside, surveillance systems monitor all records activity. You won’t find a safer place to store your documents.

2. Compliance

Privacy protection and compliance go hand in hand. Several well-known federal laws levy stiff fines on businesses that fail to protect consumer and patient privacy, including:

  • HIPAA
  • FACTA
  • GBLA
  • SOX

Offsite document storage enables your company to prove its due diligence and compliance with state and federal privacy regulations. You have access to a comprehensive audit trail that documents all activity involving your records.

3. Disaster Recovery

Businesses must accept the fact that disasters know no boundaries and often happen unexpectedly. Storing your documents offsite mitigates the risk of disasters paralyzing your business. A commercial records center protects your documents from fires, floods and natural disasters with the following features:

  • High-density shelving units
  • In-rack fire suppression systems
  • Advanced fire detection technology

During a disaster, your vital business documents can be quickly retrieved for physical delivery or scanned for digital delivery to allow for convenient information recovery.

4. Retention Management

Poor records management practices can have a negative impact on your company. When documents are unorganized and mislabeled, it creates unnecessary employee stress, sucks up valuable time, and jeopardizes customer satisfaction. Plus, if your company is audited and fails to produce records promptly, it may lead to legal consequences.

Offsite records storage keeps your documents organized and easily accessible. They’re bar coded, tracked and added to an online database that lets you view their retention and destruction dates and request them with the click of your mouse. If your company is audited you can have your documents hand-delivered to your office or sent digitally to your desktop with a Scan on Demand solution that same day.

5. Cost

Storing your documents in file cabinets, hallways and closets costs more than you think. According to research done by the commercial real estate company CBRE, Nashville’s office rental rates are at an all-time high of $22.57 per square foot. Considering a standard file cabinet requires approximately eight square feet of space, the average cost of storing a single cabinet of documents is $180 per month. That doesn’t even take into account the risks you take on by keeping confidential and archival information in-house.

The same number of documents can be stored at an offsite document storage facility for a fraction of the cost and mitigate your risks at the same time. And unlike a self storage facility, you only pay for the amount of space you use.

When you really consider the reasons, storing your documents offsite is a welcome solution.

Richards & Richards offers records storage and information management services for businesses throughout Nashville. For more information, please contact us by phone or complete the form on this page.