Downtime caused by man-made and natural disasters, cyberthreats, and other unplanned incidents can take a huge toll on your company’s revenue and brand. And the longer the delay, the more money you stand to lose. Developing and implementing a business continuity plan helps your company manage and address disruptions effectively, and keep it operational.
Your business continuity plan must both protect and ensure easy access to critical documents, such as invoices and other financial records. The best way to do this is to use a document management system (DMS) like PaperSave.
How does document management ensure business continuity?
A DMS converts your documents into electronic files, which are then stored in secure cloud servers. This solution ensures business continuity by:
#1. Protecting your documents
For years, documents have mostly been written or printed on paper. This has led to several problems.
- Paper is incredibly expensive to use and maintain. Every year, you likely spend more than $80 per employee on paper alone. When you factor in the cost of printing and shipping all this paper and the storage costs, you’re looking at thousands of dollars in annual expenses that you could have put toward income-generating investments.
- Paper documents are prone to getting misplaced. Many employees spend hours in a year just looking for paper documents that were either misfiled or are lost for good. Replacing or reproducing these files cost money, too — about $220 per page.
- Paper is easily damaged. Imagine a hurricane hitting your office and drenching your file cabinets, a fire incinerating your records, or even a colleague accidentally sending a valuable document to the shredder.
A DMS is paperless, so you don’t have to worry about the cost of paper. By converting your documents into digital files, a DMS protects your data from damage and getting misplaced. And because these files are stored in the cloud, in off-site servers, your documents are protected from natural and man-made disasters that affect your locale.
#2. Giving you round-the-clock access to your files
During a hurricane or pandemic that forces everyone to stay home, having a paper-centric document management system means your business will have to pause until you and your staff can return to the office. This won’t be a problem at all if your documents are stored in the cloud.
Cloud technology allows you to access your files using any internet-capable device, including your desktop and laptop computer, smartphone, and tablet. This means that you can continue running your business remotely, even if you and your staff are working from home.
Easy retrieval is also important. A DMS sorts and tags your files by categories, so you can retrieve them in a few seconds. PaperSave takes this further by employing multiple user-friendly search methods that enable you to find the documents you need faster.
#3. Securing your documents from thieves
Storing your files on the cloud is one of the best ways to protect your business from downtime resulting from data theft. The cloud is fortified with numerous advanced security measures that mitigate the risk of malicious parties gaining access to and exposing your data. What’s more, these measures only become more advanced over time to combat newer threats.
#4. Creating multiple backups of your files
Imagine your company getting infected with ransomware, a type of malware that prevents you from accessing your data. Ransomware has disrupted the operations of various companies and government organizations around the world, making it one of the greatest cyberthreats today.
A DMS creates multiple backups of your documents and stores these in different off-site servers. This gives you continuous access to your files, even if you are locked out of your main network.