[News brief] The 5 risks to manage when moving to digital archiving
Published on 14 April 2017
According to a MARKESS study, probative filing of digital documents has become a strategic challenge for 59% of company decision makers. In order to remain compliant, strict filing standards have become a part of a company’s general risk management policies. When it comes to digital document conservation, there are several areas of risk that a company must keep in mind at all times.
Risk of regulatory non-compliance
There are regulatory registers in place that impose certain obligatory procedures when it comes to filing digital documents. While the law allows companies to use digital documents as admissible proof, they must also be able to prove that their archiving structure follows the strict legislation that is in place. There is a risk of sanctions for those who do not respect conservation or production of original digital document measures in case of audit.
Risk of audit
Companies must be able to produce any requested original digital documents at any time for any type of legal control or audit. For example, an electronic invoice must be made available online from the headquarters of a company in its original format at any given time. Companies must ensure that all original documents are easily available and readable at any time for any legal purpose.
Risk of loss, damage, or falsification of digital proof
A company must ensure that all original digital documents cannot be destroyed, damaged, or tampered with, as they must be readily available at any time in case of legal dispute.
Risk of loss of company heritage and culture
Companies are realizing the potential value of their own digital heritage when it comes to conserving company-specific documents relating to their business in general. These documents constitute value for the company’s heritage and economy and it is therefore a strategic move to ensure their protection.
Risk of data protection loss
Digital documents also often contain sensitive information that must be secured and protected. In addition to compliant filing, the conservation of these documents must follow strict security policies.