In any and every organization, dealing with data is part of everyday life. Data is constantly being created, transferred, stored, and forgotten about. 86% of the data stored by companies is redundant, obsolete, trivial, or unknown. This data adds up and eventually can become a huge risk for your business if it is not dealt with properly, not to mention the astronomical costs of records management and storage. Digital hoarding can also slow down company workflows as well, which ultimately costs employees’ countless productive hours.
Are you or anyone else in your organization guilty of data hoarding?
Without a records retention policy that outlines specific guidelines on the retention and destruction of documents, organizations can be vulnerable to cyber attacks where damaging documents could be used against you and your organization, or you could face legal ramifications from noncompliance with federal regulations, where often times executives are held personally responsible.
Luckily, there’s a solution. With ECMNOW! you can create an efficient records retention policy to mitigate your compliance risks while protecting sensitive data with encryption and intelligent document tracking to save money by lowering your overall records management costs.
Not sure if you’re hoarding data? Take this five-question quiz to see if you’re among 62% of office professionals that hoard data.