Do you still have that contract or lease for the office equipment you disposed of seven years ago? What about the property appraisals, depreciation schedules and trademark registrations? Those should be easily accessible for as long as you are in business. But how many businesses can readily find and access these records at a moment’s notice?
Many organizations do not have effective records retention policies in place and struggle with record storage and compliance problems. An effective records retention policy is one of the most important procedures an organization can develop to limit liability and costs to successfully advance business goals.
For some, a great deal of their records need to be kept for as long as forever. While some only need to keep for 90 days. Wherever you land on that spectrum staying compliant with laws regarding record retention is key.
If your organization has not already done so, the first step is to make a plan. We have provided you with a checklist as a guideline of suggestions to consider throughout the planning process to ensure that you have all key elements covered in your policy to ensure you can maintain regulatory compliance and your data is securely protected from theft, loss, natural disaster or cyber attacks.
Making a plan is easy, just start by following our simple five-step outline! Click on the picture above to see American Micro’s suggested Record Retention Schedule.
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