If you’re a growing company, utilizing an off-site record storage vendor makes a lot of sense. Companies reduce the risk of loss and damage to vital records, ensure regulatory compliance, increase records retrieval efficiency, and protect confidentiality and security. But traditional off-site records storage companies assume that you require the same service level for all documents, and you pay a ‘proximity premium’ to keep them all close by. By studying the data of over 1,200 organizations we discovered that 90% of all records are dormant. When put in storage they are rarely, if ever, touched.
So shouldn’t you pay for the service level you need? Documents off site that are not accessed after two years are almost never accessed again. Ever. If you do need them, how often do you need them? Pay for a solution that is right for the lifecycle of the documents.
When it comes to off-site storage, our suggestion is to make the distinction between “active,” “warm,” and “cold” files. Active files are the ones in constant use around the office. You probably want to keep those on-site or formulate plans to digitize those files first. Warm files are the ones that are safe to store off-site, as long as they are close enough that they can be retrieved on short notice. Cold files are those files that you have imaged, and/or the ones you are pretty sure you won’t need to look at again unless there is an audit or litigation as they are simply awaiting their disposition date.
For more information to help you in the future success in records management, download our Special Report, Drop those pounds in 2014 (pounds of paper that is!) or view the accompanying webinar.