Hardly a week passes by without news of yet another data breach. Data theft and loss are popular topics among risk management and business professionals as well as customers whose personal data is at risk. Although the media is quick to report on the risk of digital data loss, little attention is given to the risk of paper-based data loss. The fact of the matter is that organizations are at an even greater risk of data loss when they rely on paper-based information. Consider these statistics:
- 90% of critical business information exists only on paper
- 90% of documents are handled without any appropriate management
- Out of all documents generated, up to 7% are lost (That may not sound like a lot but remember, chances are good that some are critical business information not found elsewhere)
- The average document is copied 9 to 11 times, according to a study by Phillips
Consequence of Paper
Paper documents can be copied or run through a paper shredder – never to be seen again. The least tech-savvy employee could leave the office with sensitive documents in a briefcase or purse – leaving no trace of theft or loss. Not to mention possible destruction by natural disaster, such as a fire or flood. Paper is easy to steal, easy to lose and easy to destroy. Value-added resellers (VARs) and solution providers can help their clients reduce the risk of data loss by implementing secure document management software.
A document management system enables professionals to input files that are securely stored, managed and archived throughout their life cycle. The files can be edited and shared throughout the organization, and tasks can be automated for workflow efficiency. However, a document management system does much more than streamline your client’s organization.
Level of Security
Document management software provides a level of security that is vital in today’s business environment. It allows your client’s to control who can access company files to ensure that only approved personnel can see content in the system. Additional document rights and permissions can then be designated to control what a user can and cannot do with the documents. For example, a password-protected redaction on sensitive document information and print-screen prevention further protect data.
A modern document management solution safely and securely stores all of your client’s files, processes and workflows in a proprietary format that is nearly impossible for an attacker to break. With allocated permissions for users and double file encryption, the risk of data loss is virtually eliminated. These systems also support disaster-recovery initiatives.
Document Management Solution
Finally, a content management solution can be the key to a secure Bring Your Own Device (BYOD) or mobility program. Professionals can access documents from any common browser with web connectivity, allowing them to access company files on their tablet or smart phone based on security-access rights and document permissions.
It is impossible to completely eliminate the risk of data loss, but it can be significantly reduced when you migrate your client’s paper office to a secure document management system. Make sure the solution you implement features security functionality throughout the system and is the most secure document management software available.
A version of this article was published as The Hero of Data Loss: Document Management by Crystal Bedell June 4th, 2014.