| Effective documents and data management has become an essential requirement for good corporate governance and respectable financial reporting. Companies are required by law to retain certain documents for predefined periods and they must have ready access to them when they are needed. In addition, employees routinely put sensitive data at risk, and if companies do not pay the cost for it through a data breach, they will certainly pay a high cost at auditing time. Security and confidentiality, legal admissibility and evidential weight of electronic documents are other important considerations when implementing a document and data management system. There are numerous factors to consider when selecting the right document and data management system for your company. Particular attention should be paid to ease of use, speed of implementation, alignment with existing archiving conventions, document version control, availability of secure and scalable document repository, and efficient scanning, searching and storage capabilities. The successful implementation of a document and data management system is an important initiative that requires visible support from company leaders. Well-understood document processes and adequately trained and motivated users also aid in the successful implementation. In addition to the conventional client hosted document and data management solutions, HDS offers "cloud" or online-hosted solutions. The benefits, for both smaller and larger companies alike, include:
Here are some of the elements of the documents and data solutions offered by HDS:
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Information Management
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