The standard method for document storage is to physically store away paper documents. It is a common practice for companies that must keep a trail of paper for non-mission critical documents.
While this is a cost-effective solution, it comes with significant disadvantages. One of the biggest problems is the possibility of the paper’s deterioration files. As time passes, fungi and rodents could attack the files, and eventually destroy them entirely. If the storage area is too humid or dry, it could cause the paper fibers to break. This is why it’s so important to follow a file organization plan and adhere to an exact “hygiene” routine to keep the risks at in check.
Another issue with physical storage is that employees must manually interact with the documents and files. This can lead to 7.5 percent of all files being lost and 1 out of 5 files being misplaced. This could be extremely expensive for businesses as every search and retrieve can take as long as twenty-five hours.
In addition, archives of paper should be kept in a secure place to avoid fires or floods from happening. This can be costly and take up office space which could be used for other purposes. Paper records aren’t typically backed up, so they may be lost in the event of an emergency or theft. Electronic document management systems are protected in secure archives that can’t https://psiphon.win/are-traditional-document-storage-methods-still-viable-for-due-diligence/ be accessed by a burglar or destroyed by a natural catastrophe.