From PCI compliance standards changing the way retailers take payments from customers to Sarbanes‐ Oxley affecting financial disclosures, the SMB marketplace is subject to a long list of rules and regulations. The evolving nature of the regulatory landscape doesn’t make it easy for businesses to keep up with fluctuating standards in order to remain compliant with regulations set forth by federal and state agencies. Records retention is a big task for any company, large or small.
Records management and retention is complex, challenging, and oftentimes overwhelming. How long do financial and other vital business documents need to be kept? What about sales receipts and invoices? These are all important questions and valid concerns. However, you shouldn’t have to make retention guidelines, destruction strategies and archival a priority when you have a business to run. Unfortunately, many companies spend valuable time focusing on records management and retention.
Outsourcing records management with ILM is a seamless process, customized to your industry’s standards and your business’ needs. We’ll tailor a plan that establishes your operational standards and regulations, as well as keep them in check even as they change. Contact ILM today to try us before you buy us—no surprises, no hassle and no obligation!
For some basic guidance on what should stay and what should go, check out the charts below. Also, be sure to look at our other tools and resources for insight into launching a document management system.