From HIPPA changing the way healthcare providers protect patient information to PCI compliance standards affecting how retailers take payments from consumers, our marketplace is subject to a multitude of rules and regulations. The evolving nature of the regulatory landscape doesn’t make it easy for businesses to keep up with constantly changing compliance standards and requirements. It’s a big responsibility for any company.
The growing complexity of records management can be overwhelming and challenging for SMBs. Let’s face it, the job of keeping up with retention guidelines, destruction strategies and safe archival of information shouldn’t be a priority. Yet, many businesses find themselves spending valuable time worrying about these processes. Outsourcing records management to a professional service provider is a way for companies to establish operational standards that will keep them in check with regulations even as they change.
Here are the top 4 reasons you should outsource records management to a third party provider…
1. Decrease Overhead—Considering the costs associated with storing records in-house, manpower to maintain storage and purchasing necessary equipment, it can get expensive, time and space consuming to tackle internally. Outsourcing allows a company to use their time, money and resources more wisely.
2. Improve Efficiency and Productivity—When the responsibility of records management is taken away from a business, there is far more time to spend on building a successful company. The entire organization can locate information when they need it and not worry about using personnel’s skills on tedious tasks like filing and sorting.
3. Protect Data—Regardless of whether information is stored off-site in a secure location, on in-house servers or in the cloud, it must be protected against a variety of factors. Accessibility by unauthorized users, computer hackers and natural disasters all pose risks to archived information. Outsourcing records management is a way to avoid these risks.
4. Maintain Regulatory Compliance—Last, but not least, making sure you’re following rules and regulations is something that boggles down most companies. By allowing a third party to manage storage, retention and disposal, you can rest assured knowing that even as rules change, you’re one step ahead.
To learn more about document management and records management strategies, contact ILM today.