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Records Management company: reduce your company liabilities.

Published on 05 December 2019

Records Management company: reduce your company liabilities.

Records management companies such as Restore Records can be a valuable asset for a business owner. 

Every company in the UK understands that their business thrives on a system of efficiency and productivity, but another very important factor is that of security.

Any business that operates poor records management can seriously negatively impact their success. How you manage your company records directly affects every aspect of your profitability, efficiency and company liability.

How you take care of your company paperwork is critical to your security, especially if you work in the medical field, finance or law. Government regulatory compliances are constantly being updated to help protect the general public from having their data misused, sold on or exposed to risk.

Looking after your customer or client information is especially important in these times where identity theft is still on the increase. 

Self-storage vs professional records storage and management services

While it is true that most businesses will start by handling their own records storage, eventually they will be faced with an often overwhelming paper-based filing and records system that becomes very difficult to manage in-house.

When filing cabinets, storage cabinets and storerooms start overflowing with paperwork, staff stress levels can start to rise, especially when more and more business floorspace is needed to be dedicated to the storage of company records.

Not only are you increasing your risks of a fire hazard in your workplace by storing lots of paperwork and archived records on-site, but you need to seriously consider who can gain easy access to your in-house files and use them for criminal activities.

Why use Records Management Companies?

For a frustrated business owner that is fast becoming overwhelmed with their stored paperwork, a great alternative solution is to consider using the services offered by professional UK based records management companies. 

These companies, such as Restore Records, offer a secure records management system that allows your business to safely store company information off-site in a purpose-built, secure facility that allows you free access to your documentation as and when you need it, but prevents any unauthorised persons from accessing your stored data. 

With Restore Records secure storage and management system you get a way to manage and store your company records in a way that is digitally recorded, accurate, complete, with timely accessibility, ease of use, and extremely cost-effective when compared to other alternative ways of storing your company records.

High-security protection is built-in

When you work with Restore Records to manage your company documents you will have the ability to access your records as and when you need them. Because we operate over 70 secure, purpose-built records management facilities across the UK, there will surely be one of our facilities that is conveniently situated close to your business premises.

Each of our secure records storage and management warehouses is monitored 24/7 using CCTV and our fully vetted security staff. No one is allowed on our premises without proper authorisation, so anyone attempting to gain access to your secure records will have to pass through our security checks before being allowed entry.

Protecting your data is our number one priority. We understand that having the ability to access the right information at the time you need it is important to save you both time and money. However, many business owners unwittingly put their company in harm's way by not taking the trouble to ensure that their company data is stored and managed professionally.

This is why putting your trust in a professional records management company such as Restore Records is so important for the ongoing protection and security of your sensitive company data.

What are the benefits of hiring a Records Management Company?

Keeping your business records secure and away from potential risks of data breaches and ID theft is critical if you want to meet your compliance with current Data Protection Act rules and regulations.

But don't forget that there are so many more benefits to storing both your archived and active paperwork off-site in a secure location. These include:

Maximising your workspace: Many business owners will be renting larger business premises than they may actually need simply because of all the extra space needed to store their business documentation and archived records.

Because your company files can be safely stored and managed in an off-site secure location with Restore Records, your company will make significant space savings. This means that you could either comfortably expand your company and employ additional staff without needing to move to larger business premises to be able to accommodate them.

This means you could score yourself a huge cost saving on office or business rent payments as well as give your staff a more comfortable working environment with plenty of elbow room that they need to operate efficiently and not feel at all hemmed-in or overwhelmed by the presence of rows of large filing cabinets.

Improved productivity and efficiency: Because Restore Records uses a tried and tested records management system that we have carefully developed over the past few years, you will be able to reduce your time spent looking for lost or misplaced records, which can be highly non-productive.

Our comprehensive document management system will help you stay more organised and will enable you to locate and retrieve needed documentation quickly due to our efficient indexing and storage practices. 

Improved data safeguarding: As a business owner the safeguarding of your company data is critical if you want to prevent yourself from risks. Restore Records management system can help eliminate these risks so that you can avoid suffering from data breaches and the resulting severe penalties and punishments coming from HMRC.

Regardless of which business sector you operate in, it can be difficult to manage your data risks and avoid costly penalties and damage to your business reputation through non-compliance issues, data breaches and ID theft. 

By securing your records off-site in a highly protected environment, you will be minimising your risks of exposure and fulfilling your duty of care over the safe-keeping of your customer and company data. 

Reduced business insurance premiums

There is little doubt that overheads such as rent and business insurance can deeply cut into your company profits. Running costs for your business are unavoidable, so is making sure that you have adequate business insurance in place to cover you should your business suffer a fire or flood emergency.

However, your business could make significant savings concerning your business insurance policy when it comes to covering your fire risks. 

Your business insurance policy provider will assess your business risk on several factors, one of which will be how much of a fire risk you are. If you have overflowing offices and storerooms full of paperwork, then this is an obvious fire risk that will only add weight to your policy premiums.

The less-flammable materials you have on your business premises, including stored paperwork, the lower the risk of a fire taking hold and spreading to engulf your building. So it makes sense to have as little stored paperwork as possible stored on your premises.

This is one reason why new start-ups operating a lean set-up can keep their insurance premiums so low – they operate a paperless office wherever possible, and store any essential paperwork off-site in secure records storage facilities to reduce their fire risk.

Streamline your business with Restore Records management 

An average business office or storeroom can contain hundreds if not thousands of documents, many of them containing very sensitive or confidential information about customers, clients or financial data about partner companies.

Managing and maintaining these files by your employees can be a very labour-intensive job, especially when it comes down to finding lost or misfiled documents within a sometimes chaotic or disorganised filing system.

Quite often a filing clerk can set up their own filing system for your office that only they can understand. This doesn't help anyone else trying to find essential documentation when needed or prevents files being misfiled in the wrong place.

This means that your employees can waste lots of valuable hours trying to find the records needed for meetings or important work. This can lower your company productivity and cause unnecessary delays in your operation. 

With the Restore Records off-site management system, there is one foolproof programme that everyone uses and follows. This means that everyone is on the same page and there will be no risk of losing documents or misfiling your records.

Our digital archiving techniques mean that we can drastically improve the way your store and access your critical information. Our system is extremely efficient and allows you to securely scan, track your files, securely store and retrieve all of your essential paperwork that is still needed and in use by your company.

Scanning or digital archiving your documents?

When weighing up the costs of managing your company records many business owners will think that going paper-free and digitalising all of their documentation is the best solution for them.

While more businesses are trying to reduce the amount of paperwork they generate during the course of their business, there are some jobs where printing paper copies for use is unavoidable.

However, for a company that has been running for years and has stockpiled lots of paper-based records over time, it can make little sense spending out on scanning every single paper record just to make your business paper-free.

Many business owners can become confused or conflicted about whether or not they should digitise their old paper records. While scanning their old paperwork may seem like a good idea, it can be very time-consuming and costly, especially if the paperwork they are planning to scan is actually quite close to the end of its useful life and may not be needed at all in a year or so.

When you have a lot of paperwork that you may never likely need to retrieve and use again in the future, then it makes more sense to hand these records over to a records management company to record and archive until they reach the end of their useful life rather than have individually scanned.

Secure end-of-life document disposal

Another greatly overlooked benefit of storing your company records off-site at a secure facility with Restore Records is how you manage to dispose of your paperwork once it has reached the end of its useful life.

Luckily when you work with Restore Records for your records management needs, we have an arm of our business that deals with the secure disposal of confidential paperwork through our industrial-strength shredding services.

Working hand-in-hand with our business clients, the Restore group offer complete end-to-end lifetime management of your company documentation. This means that not only can we help to improve your company efficiency during the useful lifetime of your paperwork, we can also provide you with a convenient secure disposal solution once the time comes where your paper-based files are of no further use to your business.

Keeping up with GDPR

Any company records that contain client information, employee personal details or B2B partners financial information need to be collected, used, stored and then disposed of properly in accordance with GDPR rules and regulations. 

This means that if your company accidentally or purposefully throws away old paperwork that includes private data in a manner that is judged to be an improper method of disposal of data, it not only opens up your company to risks of ID theft and financial fraud but also very severe penalties from the Government for non-compliance.

Restore Records can work with you to help organise and implement the safe final disposal of your company records directly from our secured records storage facilities.

This means that you will not need to take back your redundant paper records from our storage facilities before arranging for its safe destruction. This can help you to reduce the risk of data exposure and is more convenient and cost-effective than having to relocate your old files somewhere else before being destroyed.

Now that you have seen how working with Restore Records can help you to not only streamline your business but to also help reduce your overheads, what are you waiting for?

Do not hesitate to contact our friendly team to find out exactly how Restore Records can help your business. We are here to help!