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Current Filter: Document>>>>>Opinion> Step away from the shredder! Editorial Type: Opinion Date: 01-2015 Views: 3292 Key Topics: Document Retention Compliance Strategy Capture Key Companies: Invu Key Products: Key Industries: | |||
| Invu CTO Stuart Evans discusses strategies for getting rid of paper documents while complying with longer-term document management regulations. Technology has shifted the reliance on physical paper documents towards more electronic transactions and documentation. The processing and retrieval of paper documents has been transformed, but while physical documents and files are extremely vulnerable to loss, damage, or misfiling, they are tangible and - if unaltered - do provide absolute proof. It is this understandable comfort that stops many businesses from embracing electronic document management (EDM) solutions. Despite the fact that more documents are being shared electronically, the 'paperless office' has not materialised quite yet - but the journey is well underway. Even today, destroying physical paper evidence feels unnatural and risky to some firms that are yet to embrace the digital method wholeheartedly. There are cases where employees even print and file documents they received via email. While it is critical that company documents are stored and managed securely, some companies have outdated views on why original paper documents should be retained.
IS IT SAFE TO DESTROY ORIGINALS? There is a common misconception that these documents must be kept in hard-copy format, but nothing could be further from the truth. As long as digital documents are appropriately captured and managed, they have the same legal validity as their paper-based counterparts. Opting for an EDM solution makes good business sense. Effective document management is about far more than scanning and storing documents in digital format. It is about using data capture to automatically pull out relevant information and drive an electronic and automated process. Yes, this includes document storage, but it can also be used for invoice or payment status tracking or for streamlining and automating the approval process of legal documents such as contracts, non-disclosure agreements and other legal files. The main benefit of such an approach is that it creates an audit trail that is essential for potential legal challenges. Operational documents, once captured electronically and saved in an EDM solution, will always be retrievable. Meeting a court's requirements for highly reliable evidence is where the issue of Legal Admissibility comes into play. Like paper-based documents, if the provenance of a document is clear and its integrity is incontestable then admissibility is not considered an issue. However, before you reach for the shredder, ask your EDM supplier the following questions to ensure you stay on the right side of the law:
• How credible are your electronic copies? The scanned document must be an exact replica of the original document.
ALIGNING BUSINESS PROCESSES Importantly, this standard is device independent. Over the past few years, smartphone use and remote working practices have grown hugely. Electronic filing is now increasing at such a level that it is commonplace for regulatory bodies such as HMRC to address the standards they require. Opting for an EDM solution therefore is no longer a luxury; it is fast becoming a necessity. Whether you opt for a web portal, Cloud or server-based solution, seek advice from your relevant body and contact other companies in your sector to ensure your choice of EDM incorporates regulation and legislation into your solution from the start.
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