5 Document Storage Requirements You Should Know
Compliance is more than just a buzzword. When it comes to document storage and sensitive information, it’s a law that this information is protected, and the penalties are severe for those that are found in violation.
For example, the penalties for noncompliance with Sarbanes-Oxley are, whether by mistake or not:
- $1 million dollars and ten years in prison
- For purposely submitting the wrong certificate — $5 million and 20 years
- Lawsuits and negative publicity that harm your reputation
It’s our mission at Docu-Trust to help you stay in compliance and keep your documents safe from security risks and theft. Keep reading to see our top tips regarding legal document storage requirements.
Compliance Is Key
HIPPA and Sarbanes-Oxley are the big players in terms of compliance laws. So what exactly is required of your company in the storage and destruction of documents that fall under one of these categories? First things first — look up which documents your company is required to keep by law and for exactly how long.
Do Not Keep Documents Longer Than Necessary
Once you determine how long you need to keep paperwork, you need to find a system that helps you manage it. Many businesses fall into a trap of storing required documents, then they forget about them. It’s the whole “out of sight, out of mind” phenomenon.
It’s only after the paperwork begins to take over the office that you’ll discover how much of it is there past its required length of time.
Document storage doesn’t mean drowning in paperwork. Putting a management system in place is essential to office organization, but there is also the possibility of going 100% paperless, or even partially paperless.
There are electronic document management systems that allow you to decrease, or even eliminate, hard copies, and increase your ability to find documents quickly when you need them.
Locate Documents Fast
Document storage in California is not a difficult process. Quite the contrary. Our facility in Orange County serves businesses throughout California, Nevada, and Arizona. This is an extension of your filing system that allows you to get your office space back while being able to recall files when you require them.
Docu-Trust’s storage solutions come with an inventory management system and Scan-On-Demand retrieval services. Only authorized members of Docu-Trust staff have access to customer records, and records are only accessed when you request them.
Our solution monitors who has access to documents and keeps an audit of activities surrounding the paperwork, including who has viewed or altered it. See more about Off-Site Record Storage on our previous blog.
Secure Your Hard And Soft Copies
Security is a necessity in this day and age, and digital data needs to be protected as well as your hard copies. Physical documents are housed in a facility that provides 24/7 web access, scheduled service, and a secure environment. Our facility is closed to the general public and continually monitored by professional security services.
Digital data needs protection as well, and it’s important that you place the right protections on computers and hard drives in your office to keep hackers and identity thieves out. We suggest you limit who has access to your office computers to minimize security risks, and ensure that documents that contain sensitive info are destroyed properly.
Shred And Destroy
When it is finally time to get rid of vital documents, you have to destroy them. Just shredding them doesn’t cut it. If you shred documents and throw them away, you put yourself at risk for fraud or identity theft.
“There’s a new victim of identity theft every two seconds, and BBB reminds people to keep themselves safe from this crime. One important and effective way to do that is to shred sensitive documents that are no longer needed”, says Jim Temmer, CEO/president of The Better Business Bureau Serving Wisconsin.
It’s essential that you employ a company like Docu-Trust that is NAID certified that will properly destroy and dispose of documents and digital data.
Ready To Take Control Of Document Storage?
Contact us and together we can assess your current situation. We can guide you to a document storage solution that best suits your needs and gives your documents the protection your customers expect.
The team at Docu-Trust is ready to help you stay in compliance and reclaim your office space. Give us a call today!