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Benefits of an Enterprise Electronic Archive

Enterprise electronic archives preserve all documents, records and communications in a digital environment that is accessible to employees with access rights. These systems are cost-effective and boost productivity when contrasted with pen-and-paper methods. Searchable archives enable employees to access information more quickly, which speeds the workflow process. For instance, accounting firms can locate historical financial records quickly to improve analysis of data. Digital archiving helps companies comply with regulations, and also avoid costly litigation.

Certain industries, including finance, healthcare, and government, have strict regulations that require data compliance. Infractions can result in hefty fines and a negative image. To ensure compliance, these sectors have to archive their old and inactive files on a regular basis to be prepared for court proceedings or audits. For this, many companies choose to utilize a cloud archive for their data retention requirements.

Utilizing an electronic system for archiving decreases the risk of losing important files, by placing them at the disposal of all authorized users. It also eliminates the need for relying on manual processes, which are slow and prone to errors. It also reduces space, which means that there is less requirement to buy more storage cabinets.

Finally, a cloud-based archive can also make it easier to conduct regular data audits. For instance the employee would like to verify the terms of a contract prior renewing the contract, they can easily access the contract via the archive.

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