PHYSICAL RECORDS MANAGEMENT
A centralized management of physical records in a single system
Our solution enables organizations to track, locate and request physical records electronically. Manage physical records alongside electronic documents and records, using the solution as the single interface – regardless of record location or format.
BUSINESS CHALENGES
Space Limitations
Physical records require storage space, which is a significant challenge as the volume of records grows. Storing paper documents and files can lead to cluttered offices, additional storage facilities, and associated costs.
Retrieval Time
Locating specific physical records can be time-consuming, especially if records are not organized systematically. Employees may spend valuable time searching for documents, leading to decreased productivity.
Document Loss or Damage
Physical records are susceptible to damage due to environmental factors like moisture, pests, or accidents. Documents can also be misplaced or lost, leading to information gaps and potential legal or compliance issues.
Compliance and Legal Risks
Regulatory requirements and legal obligations demand proper records management. Inadequate management of physical records can lead to non-compliance, legal liabilities, and financial penalties.
Lack of Accessibility
Physical records are often accessible only from specific locations, limiting the ability of remote or off-site employees to access necessary information promptly.
Inefficient Collaboration
Sharing physical records with remote teams or multiple stakeholders can be challenging, hindering efficient collaboration and decision-making.
Security Concerns
Physical records can be vulnerable to unauthorized access or theft. Sensitive info stored in physical documents may not have the same level of security.
Limited Disaster Recovery
In disasters, physical records are at risk of being damaged or destroyed. Adequate disaster recovery plans for physical records can be complex and expensive.
Inconsistent Organization
Without a standardized system for organizing physical records, inconsistencies in labeling, filing, and indexing can occur, leading to confusion and difficulty in locating documents.
Cost of Storage and Maintenance
Storing physical records involves costs and additional budgets related to storage space, filing equipment, maintenance, and personnel dedicated to managing and organizing records.
Lack of Workflow Automation
Physical records do not benefit from the workflow automation and digital processing capabilities that digital records offer, which can slow down processes and decision-making.
Environmental Impact
The use of paper, physical storage and traditional documents process contributes to environmental concerns, including deforestation, energy consumption, and carbon footprint.