Few things are as important to a business as its documents. Property can be reclaimed, money can be made back and most things are replaceable. Important data, if left unsafe, may not be.
Imagine if you have an important record on paper. Once that is gone, only memory will serve as recollection and that is seldom a safe option.
It is for this reason that many leaders have come to learn more about the benefits of record management, such as having back-ups in offsite locations. This can prove vital should anything happen at your end, as the other copy will be completely safe and you can instantly recover anything you need. From a business and fiscal perspective, this insurance is hard to argue against.
The growing risk
Today, most records are managed online for various good reasons. First of all, they let you retrieve things instantly and they are much better to maintain and organise in a digital format. Secondly, a server takes up far less space than an overflowing filing cabinet.
However, it also presents risks, as that one server holds all your data. Should that be hacked, via a data breach or other means, or even physically damaged, the information is gone. This is why offsite storage and record management is crucial. Think of it as having a spare copy in a safe at the bank – it’s always there when you need it.
Ahead of the curve
However, recent evidence suggests that not all firms are realising the sheer urgency for strong protection. When you apply this to your records, is it not better to be ahead of the curve? By keeping one foot forward you can remove yourself as a likely target for downfall.
In November, the Department for Business, Innovation and Skills performed its cyber governance health check and found not all of the FTSE 350 were up to date with their security.
Only 48% of respondents felt their board understood the risks. Going into detail, 59% claimed their board had a basic understanding and 4% felt their understanding was poor. In fact, only 34% believed their board members had a very clear understanding.
From the UK’s leading firms, this is a poor performance. Data security is something any IT expert, or anyone who truly values their data, understands all too well. Why take the risks these boards are taking when simple record management options can prevent this? From a business perspective, it’s a risk that is difficult, if not impossible, to justify taking.