Document retention is a significant component of your firm’s compliance framework. Whether your clients will be demanding use of their records, you’re facing an IRS . GOV examine or an Equal Employment Chance Commission promise, or resolving a worker’s comp concern, it is essential to experience a centralized, organized and easily accessible record of the facts you have on file. This can be a best way to avoid potential legalities.
Developing a good document preservation policy may be a complex activity. The key is to be able to establish a comprehensive work flow that includes the capability to categorize and organize records based on their very own importance, establish document categories (such seeing that financial docs, client information and staff files) and identify the appropriate timeframes for each category.
Your firm’s policies should likewise include protocol for keeping, disposing of and retrieving files. In addition , a clear and consistent naming convention should be used for all of the documents. This makes it easier to apply and put in force document retention guidelines dataroomcorp.com/best-practices-for-secure-document-retention across your business.
Finally, your document storage need to be secure, international and budget-friendly. Using a cloud-based system is an effective way to be sure compliance with document retention guidelines, preserve version control and increase accessibility and traceability of data.
The FutureVault protect Digital Vault platform is actually a solution which will help your organization meet—or even exceed—document retention requirements although saving you money and time. To learn more about the way you can help, call us today! DR4 (Data Residency, Document Preservation, Disaster Restoration and Info Redundancy) is our data security and compliance framework that allows firms and advisors to exceed regulatory requirements.