6 Reasons Why Transparency in Documents and Records Management Is So Important

It is no secret that proper document storage practices are a cornerstone of handling data correctly. It’s not just about keeping client and employee data secure, it’s about keeping track of all records and ensuring easy access and retrieval. To this end, transparency in documents and records management is extremely important. But why is this so? And what are the benefits that your business can gain from ensuring transparency in your document storage policy?

To start with, the area of document storage is not small. Document and records management relates to more than just receipts, purchase orders and customer accounts; it also relates to the personal details of customers, prospects and employees.

A huge number of documents are involved, and managing them is not a simple task. The use of specialist offsite document storage services can help make the job easier, allowing companies to focus on their principal responsibilities while the often complex legislative responsibilities, as set out by regulations such as GDPR, are met by dedicated expert service providers.

These services include document scanning and storage (as well as media storage), cataloguing and document consultancy – as well as document management and retrieval services. But what is also important is that these professional services also ensure transparency.

Here are 6 reasons why transparency is important to your business:

1. Maximises Auditability

A key advantage of transparency is that it ensures organisations maintain and keep secure the data that it stores and handles. A direct result of this attentiveness is the high state of audit-readiness that the organisation keeps itself in. Through this readiness, a business is then best positioned to pre-empt any compliance issues before they become violations that may prove extremely costly.

2. Ensures Compliance

Data security legislation is designed to ensure personal data is always kept safe and secure. One of the most significant developments in this area has been the introduction of the EU’s GDPR, and for every organisation that has high document storage needs, complying with these extensive regulations is obligatory.

3. Satisfies Access Rights

GDPR also enshrines an individuals’ right to access any stored data relevant to them, providing fast and simple document retrieval is important. Document storage and records management services utilise document track and trace technologies, such as the barcode system used when cataloguing individual documents, that make retrieval simple and quick, reducing administrative costs in the process.

4. Protects Against Corruption and Fraud

Maintaining transparency in documents and records management ensures a high level of protection against corruption or fraud. Documents are scanned and stored in a secure site, not left lying around on office desks where prying eyes can have a look. What is more, documents cannot be altered or faked because they are stored away and can be accessed only by authorised personnel.

5. Awareness of Weaknesses

Thanks to the need for transparency, systems are continually under a watchful eye, so faults in procedures can be spotted before they fester into a crisis. Faults might include unauthorised access to files or unapproved modifications, anything that might compromise the record history. As a result, a company can be become fully aware of procedural issues within their established system.

6. Building Trust

One of the less pointed-to reasons for delivering transparency in document and records management is that it helps to build trust with suppliers, clients and customers. Transparency translates to honesty, in the sense that it highlights no information is being hidden, and the advantage is the positive impression this has.

If you would like to talk to a member of the Kefron team and learn more about our Document Storage and Records Management Solutions click here.