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How Document Scanning Services Can Help in Business Risk Management

An article in Supply & Demand Chain Executive aptly describes how the effects of natural disasters have significantly widened to include infrastructure and businesses, and ultimately, the large number of people who are economically dependent on these. The article also highlights how very few companies have effective disaster management plans in place.

Environmental Risk

“By definition, disasters are rare, but have severe consequences. A Deloitte study found that many of the greatest market losses could be attributed to events that were deemed extremely improbable and which companies failed to consider in their risk strategies. Taking a chance that “it won’t happen to me” is not an effective or reliable risk management strategy.

As environmental risk becomes more prevalent and impactful, businesses can no longer ignore the importance of preparation.”

One of the biggest possible consequences of disasters to a business is data loss. In particular, paper documents are highly vulnerable to the effects of calamities like earthquakes, flooding, hurricanes, and wildfires.

Risk management experts recommend digitizing as an effective means of preserving important company files and data. The process requires identifying which among the business’ paper documents need to be preserved, scanning the identified files, and storing the scanned images in a secure electronic location. Given the volume of data that companies typically have to preserve, it is advisable to seek professional document scanning services for better cost-efficiency.

The scanning process involves more than just capturing images of files and saving them in a PC folder. The entire process has to be documented to ensure that it was done thoroughly and accurately. The scanned images then have to be properly organized in an electronic filing system that is not only secure, but also indexed for easy access for authorized individuals. All the protocols and procedures that are needed for the digitizing process fall within the expertise of reliable document scanning companies like Spectrum Information Services, so businesses will do well to work with such document management experts.

(Article Information and Image from Environmental Risk and Technology in Enterprise Risk Management Planning, Supply & Demand Chain Executive, January 18, 2014)


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