Document retention is a essential component of your firm’s compliance system. Whether your clients are demanding entry to their records, you’re facing an INTERNAL REVENUE SERVICE audit or an Equal Employment Prospect Commission claim, or solving a worker’s comp issue, it is essential to experience a central, organized and simply accessible record of the facts you have about file. Right here is the best way to stop potential legalities.
Developing a good document retention policy is actually a complex job. The key is to be capable of establishing a comprehensive workflow that includes a chance to categorize and organize papers based on the importance, define document groups (such while financial papers, client information and staff files) and determine the appropriate timeframes for each category.
Your firm’s policies should likewise include protocol for storage, disposing of and retrieving papers. In addition , a clear and consistent identifying convention need to be used for each and every one documents. This will make it easier to apply and impose document preservation guidelines across your business.
Finally, your document storage needs to be secure, scalable and cost-effective. Using a cloud-based system is an effective way to make sure compliance with document preservation guidelines, keep version control and increase accessibility and traceability of data.
The FutureVault protected Digital Burial container platform is mostly a solution that can help your organization meet—or even exceed—document dataroomcorp.com/best-practices-for-secure-document-retention preservation requirements when saving you time and money. To learn more about how we can help, contact us today! DR4 (Data Residency, Document Preservation, Disaster Recovery and Data Redundancy) is definitely our info security and compliance framework that enables firms and advisors to exceed regulatory requirements.