“American companies spend $25 To $35 billion every year for storing, preserving and retrieving their valuable corporate record. However, managing record and documents for their entire life cycle further expands this budget up to $100 billion per year.”

And perhaps that  is why more and more multinational American organizations are looking forward to reliable but third-party document management services which can not only serve their multipurpose document management needs but would also accommodate according to the needs and requirements of the industry.”

Record & data management is one of the most discussed topics these days, especially among the masses who are somehow attached to the small and medium class manufacturing units, business and industries across the globe. The five most important reason that has forced most of the small and medium businesses to outsource their record and information management requirements are listed as follows:

1- Practical Impossibilities in The Record Management Process :

It is practically impossible for a single and small organization to effectively measure and controls the growth of records and documents. As the modern organizations are generating and gathering different kinds of corporate content at an exponential rate, managing and synchronizing the growth of such huge amount of versatile content and as well as tracking its location has become fundamentally impossible.

2- Absolute Alignment With The Evolving Data Retention Policies:

And when it comes to the question of continuously evolving statutory compliances and legal procedures that are closely related to data and information retention policies, you would simply realize that there are more at stake than the trouble of misplacing a simple bill or invoice. 

3- Decreased Operational Efficiency & Poor Discussion Making: 

In fact, minor mistakes, malpractices and mismanagement in your entire record and document management process can lead to serious audit faults, low operational efficiency, less productivity and above all some false business decisions based on some relevant and old records.

4- Expensive Urban-Space & Increased Your Data Management Costs:

Creating a self regulated record storage facility within your office requires a hell lot of space  Science the rental cost of properties and lands in most of the urban cities is very high and the available space is too low, it would not be wise for any company or institution to invest a huge amount of wealth and resources in building a Physical-data storage facility within their offices.

5- Lack of Adequate Infrastructure, Wealth & Resources:

Document management is a lengthy and time-consuming affair, often asks for regular maintenance, proper storage environment, large infrastructure and of course skilled manpower. But if you look at the financial condition of most of the small and medium level business, you will simply understand the fact that allotment of such an enormous amount of wealth, particularly to serve record and data management needs is not economically feasible.

6- Misplacement of Records, Hacking, Data leakage & Sabotage:

Your valuable corporate record and documents can be easily destroyed within a blink of an eye. Your physical record is vulnerable to several natural forces like fire, moisture and pests that can completely annihilate your entire storage of physical documents. Not only this, you can be a victim of unprecedented sabotage and data leakage which in turn, can tarnish your corporate identity and brand value. 

Besides these above-mentioned factors, you should also aware of the dirty and mischievous online tricks. The market is full of unethical hackers who are deliberately trying to steal your highly prioritized computers networks and smartphones. In order to keep your records hidden from these potential threats, you must prefer a third-party document management company, at least some who can provide comprehensive record management solutions-right from the highly secure physical record storage facilities to electronically protected data management system.