Electronic Long-Term Archiving Best Practices
The long term electronic archiving means the preservation of documents in digital format.
Global digital transformation created a world with e-transactions and e-invoicing that businesses have to comply. Preserving documents digitally is now a valuable aspect for businesses.
Most companies generate thousands of electronic documents daily. Due to the need for an electronic document archiving system in the private sector, it is getting more and more critical. Also, the new European legislation is clearly demanding a secure-long term data archiving system.
To choose the best digital archiving solution for storing original electronic documents, here are 9 practices to look for:
Document Classification & Accessibility
Electronic data systems are now advanced enough to stay available at any time anywhere. It should be a must for a customer to reach any document with ease. Their classification has to be on point and orderly for anyone who has access to the interface.
Companies with high employee numbers are always at some risks.
Ease of Use
A long-term archiving system should be streamlining all processes for companies well-being. In other words, the software needs to keep up with the current UX standards. Organizations with an e-archiving system can quickly pinpoint the different applications, service providers, trading partners, product lines, countries, e-mails, offers, e-invoices, transactions, etc.
Security & Integrity
Depending on the region of the world, local legislation may regulate electronic document archiving. Maintaining the integrity of the document is a necessity to have proper value over time.
No one can know when your documents will be demanded legal issues or from third parties.
The primary regulation in European Union is the “Regulation Nº 910/2014, known as eIDAS” which states the figure of qualified trust service provider as an operator certified for the safekeeping of electronic data archiving services with legal proof value.
It is good to know that your electronic data system has probative value thanks to its e-signature and time stamping mechanisms.
Keep the Documents Safe
The documents and data archived usually contain sensitive data on companies, customers and employees. That is why local or European legislation requires the physical servers to be located in their territory. You must know where your documents are physically kept to avoid adversity.
Consider the Worst Scenario
It is essential to know what measures your digital archiving provider has taken to protect your data. Think about the worst possible situation like a natural disaster and ask these questions:
A reliable long-term archiving provider needs to answer these questions in confidence and detail. It is a sign of effort they make to keep your data safe.
If a government wants to audit an organization’s documents, it accesses the e-archive. A long-term data archive has to offer a reliable record of each action taken regarding the system or documents. In the event of litigation, documents might need to be provided to affected parties.
Storage Period & Relevance
Make sure your long-term archiving system will stand the test of time. It is good to use standard formats that are supported by various applications. The format of the documents has to stay in relevant for future technological advancements. A digital archiving company has to shine with its bright software architects.
Privacy of your archived documents is the holy grail of electronic long term archiving. One should not have a fraction of doubt about their privacy, and it must be proven to a customer by any means.
Electronic archives must be accessible through a legal application process. Undue law enforcement access should be avoided.
In a nutshell, the preservation of documents in digital format is essential in today’s digital world.
Thank you for your time!