A carefully developed records management system can help your business to attain more efficiency while minimizing the storage cost at a drastic rate.  However, the success rate may vary with the kind of storage mode that you choose for your business.

In the following blog, we will try to evaluate the actual potential of record management in the present time scenario. We will also try to understand the reasons that make records storage so necessary for the new generation of businesses. 
 

First Re-define Your Priorities:

Whether you need to choose paperless policies or should still revolve around physical record management would depend upon the striking balance between cost, security and productivity. Now, in order to figure out all of the above-mentioned factors-first you need to construct a primary layout that defines the level of your priorities and requirements.

Try to evaluate the total volume of your physical records. Also, find out the rate at which documents are getting generated within your offices. 
Just figure out, how much storage space do you require to accommodate your entire stockpile of records and documents. 
Infrastructure and logistics are an integral part of record management. Kindly prepare a list of machinery and tools that you need to create your own office record storage. 

Last but not least, you should also prepare a rough budget, just to measure the cost-factor associated with it. Also, Do not forget to reconsider the factors related to data threat and securities. 
 

Comparing-Paperless Office Vs Physical Record Management:

Accessibility & Retrieval:
 
When it comes to record retrieval and quick accessibility, cloud-based document management software are more successful than the traditional record finding methods. All though, modern day physical records storages are using technologies like scanning, imaging and emailing, just to provide quick record deliveries, it can not simply replace the sophisticated and efficiency involved in the paperless process.  

However, paperless document management systems are very expensive and usually not preferred for those who do not have a large stock of physical records.  

Time-Saving:

In today’s fast-paced world, time is more valuable than money. With paperless document management systems, one can simply access his entire database of records within a fraction of time. This would save an enormous proportion of working hours. 

However, today’s offsite record management companies are not lacking behind. Most of them have already adopted advance LASER scanning and digital imaging and barcode-based record relocation technologies which together allow them to provide fast retrieval services in a negligible span of time.

Cost-effectivity:

Creating a self-regulated document management services(DMS) would be quite costly for small and medium class businesses, especially those who do not a generate infinite amount of physical data. In this case, you have to invest lakhs of rupees to build your own database and then you have to spend another half a million to maintain the adequate network security. On the contrary, off-site record management is quite affordable for all sorts of businesses.