Data is now a precious asset of any organization that why they are making every effort to preserve it. Archiving it outside the premises or turning it into a digital form and storing it on a cloud network are some of the effective techniques. Data archiving has many forms as it depends on the scope and goal of an organization.
The businesses that are still working the conventional way of creating physical receipts and invoices may still choose record archive the documents in a secured place outside their business premises. However, the companies that like to adopt recent technologies may welcome the scanning and digitization techniques. It scans all the physical documents in bulk and systematically managing it in a document management system that makes archiving much easier. Let us have a look at the different types of data archiving.
– Corporate archives
A corporation may start its operations with humble resources and achieve success. The beginning and every struggle towards making it a corporate giant is recording with details to each passing day. The success journey and the entire records are archived for the preceding management to come and follow.
The purpose of maintaining corporate archives is to meet legal requirements and preserving records of staff, manufacturing or ordering process, vendors, and data of different stakeholders. A company may need to archive a variety of data such as agreements and MOUs with different organizations, policies, and general work practices, legal documents, accounting, tax, and financial records, etc. The record has to be kept private and confidential as it is not required to be disclosed to the public.
The corporations often opt for the digital archiving solutions such as scanning and digitization as it brilliantly creates soft copies of the physical documents and orders them in an easily retrievable form. Once the entire company records are digitized, the archiving becomes bliss.
– Public Offices or Government Archives
Government offices are liable for collecting data from the local and national authorities to make it available for the concerned community or public at large. The records have to be maintained with the utmost security as it contains private and sensitive information. You might have heard cases of leaking or destroying records in public offices by fire or any other manmade incidents. These are the signs that preserving the records is of much significance as the public is concerned about it.
– Compliance Archives
Any form of data that is preserved for retrieval for any legal notice or intimidation is called a compliance archive. Most companies and organizations are required to retain their records, either physical or electronic, for a specific period to furnish upon legal demands.
An enterprise may need an archiving strategy to support its risk management and making the organization compliance-ready. The core data type includes is emails, contracts, business records, social media records, etc. With archiving, companies are successful in preserving the record as it limits unauthorized access. The records can only be accessed upon the request of authorized personnel for either audit or other legal inquiries.
– Educational Archives
Educational archives allow collecting and storing data or any kind of informational material that belongs to a college or university. For any educational institute, it is mandatory to retain the academic records of students, their research and findings, and their certificates and credentials.
With every passing year, the records increases, which have to be kept for life as the candidates may need it any time. The archive managers of the university and librarians may be putting their efforts in protecting the data and make it available for retrieval either by the candidates or the public for research purposes.
– Historical archives
Anything that happens in a locality may be forgotten if that is not recorded and archived. A locality, town, city, or state must have to keep a record of events that may prove useful for history for tracking the history or finding traces or descendants of a family.
The archives of a historical society comprise the facts and material about local sites and people. The interesting facts that go in waste as soon as the elders die or move to other cities remain in the archives for the youth to know. These archives also provide an exemplary resource for researchers and genealogists.
Why is Data Archiving Important?
Data archiving can be for a variety of reasons and purposes. Its significance may vary from company to company. The core reason includes the safety and security of records, cost-saving on managing data, and legal compliance.
Managing data, in the end, is difficult and risky. The data that you no longer need in day-to-day business operations can easily be moved to a secure place with an archiving strategy. If the same data resides in your office premise, the common computer system, or at the server connected with the rest of the computers in the office, the data is vulnerable to a plethora of risks. Data archiving serve its purpose here as it separates and moves the inactive data from the active one, and confine its access to the authorized personnel only.
Another reason for having an archiving strategy is cutting the cost of managing and safeguarding data. If you opt to retain the data on the premise, you will have to carry unlimited security measures to secure the data. You may have to hire a technical person, data archiving software and devices, secure vaults, etc. however, outsourcing it a reliable archiving company relieves from the entire stress.
Data archiving is another name for ordering and structuring the historic data of your organization, where it is secured for life and can be retrieved any time needed. It is important for preventing loss and inappropriate use of data.