Your business started with a simple vision, and you’ve invested countless hours and hard-earned money into bringing that vision to life. Every day, you work to further your success and increase the profitability of what you’ve built from the ground up. You’ve likely insured your business to protect what you’ve grown, but is insurance really enough?
Many business owners mistakenly believe that an insurance policy is all that is needed to protect their business, only to find out the hard way that some things just can’t be replaced. Taking steps to safeguard your documents now can help you mitigate the risk of costly losses in the future.
The Risks of Document Loss
Natural disasters are posing greater risks to populations than ever before, and instances of flooding have risen sharply over the last few decades. The cost of natural disaster recovery has increased as well, and government agencies are increasingly encouraging business owners to develop disaster recovery plans to prepare their companies for potential losses due to hurricanes, tornadoes, severe storms, blizzards, floods and earthquakes.
Insurance coverage does play an important role in reducing potential losses; however, having an insurance policy won’t prevent paper records from becoming permanently wiped out in the event of a disaster.
Research shows that data loss can have huge consequences for businesses. A study conducted by the U.S. National Archives and Records Administration found that 93 percent of companies that did not have access to their data for 10 days or more following a natural disaster filed for bankruptcy within a year. Even if businesses are able to survive a major data loss, the costs can be astronomical. The price of replacing just one paper record can run as high as $200.
Clearly, taking steps to protect your records today is a smart way to reduce potential losses tomorrow.
Protecting Paper Documents
Where are your paper files being stored right this minute? If you’re like most businesses, they’re kept in filing cabinets and boxes throughout your facility. What would happen to those documents if your office flooded or a major disaster left your building in ruins? While it’s unpleasant to think about these types of events occurring, you don’t want to find out the hard way that your documents weren’t properly protected.
Moving your documents to an offsite location can help you to guard against loss, but only if those facilities have the proper safety measures in place. After all, a locker at your local self-storage facility or a spot in your attic isn’t any safer than the storeroom at the office.
Companies that wish to fully safeguard their paper documents choose commercial record centres for storage. In these facilities, files are secured in cartons and kept in state-of-the-art racking systems equipped with sprinklers. Stored documents are kept safe from theft and damage by a number of systems, including:
- Climate control
- Motion sensors
- Smoke, heat and fire detection
- Video monitoring
Every carton in a commercial records centre is even bar coded and tracked to make it easier to locate crucial documents if an emergency situation ever occurs.
Protecting Electronic Records
Companies that have moved to electronic record keeping aren’t any less vulnerable to data loss. In fact, backup media like tapes and discs can be damaged by even small amounts of light exposure, minor temperature changes, small increases in humidity, and exposure to dust and pollutants. As a result, simply keeping backup media stored in a box onsite can lead to costly data loss, even if your business is never affected by a natural disaster.
Storing data in a media vault at an offsite location can help you protect electronic records. Vaults are uniquely designed to provide the best possible protection for specific types of media, such as audiotapes, magnetic media and film and video archives. Inside of these facilities, environmental conditions are kept at ideal levels to ensure the safety of media, and a variety of systems are used for protection, including:
- Media storage containers
- Dedicated HVAC systems
- Fire suppression systems
Commercial Record Centres and Media Vaults in Canada
Whether you have a paper-based or electronic record-keeping system—or a combination of the two—FileBank can help you safeguard your documents to protect your business from loss. With record centres in every major Canadian city, we can give you the peace of mind that comes from knowing your data is safe and sound, come what may. For more information about our services in Atlantic Canada, Québec City, Montréal, Ottawa, Toronto, Winnipeg, Saskatoon, Regina, Calgary, Edmonton or Vancouver, please contact us by phone or complete the form on this page.