Benefits of an Enterprise Electronic Archive

An enterprise electronic archive stores all documents, records and communications in a system that is accessible digitally to authorized employees. These systems cut costs and increase productivity over pen-and-paper processes. Searchable archives allow employees to access information faster, which speeds up the workflow process. Accounting firms, for example can quickly find financial records from the past to improve data analytics. Digital archiving also assists businesses comply with regulations and avoid costly litigation.

Certain industries, such as healthcare, finance and government have strict regulations that require data compliance. Failure to comply can result in substantial fines or damage to reputation. To ensure compliance, these industries need to regularly archive their old and inactive data in order to have it ready for legal or audits. To accomplish this, many companies choose to utilize a cloud archive for their data retention needs.

By placing important files accessible to authorized users Electronic archive systems reduces the risk that they will be lost. It also eliminates manual processes that can be lengthy and susceptible to mistakes. It also reduces space, eliminating the need to purchase additional storage cabinets and reducing operational costs by transferring seldom used data to less expensive storage areas.

Cloud archives make it simple to conduct regular audits of data. If, for example, employees want to know to review the terms of a new contract before renewing the previous one, they can easily review the contract in the archive.

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