http://dataroomnow.blog/post-acquisition-integration-checklist
Enterprise electronic archives store all documents, records, and communications in a digital space that is accessible to employees with access rights. These systems lower expenses and boost productivity compared to pen-and-paper methods. Searchable archives permit employees to access information faster, which expedites the workflow process. Accounting firms, for example are able to quickly locate financial records from the past to enhance data analytics. Digital archiving helps companies comply with regulations, and avoid costly litigation.
Certain industries, such as healthcare, finance and government have strict regulations that require compliance with data. Failure to comply could result in heavy penalties or a bad reputation. To ensure compliance, these companies require regular archive of their old and unutilized data in order to keep it available for audits or legal proceedings. Many organizations use cloud archives to ensure that they are meeting their data retention obligations.
By putting important files at the fingertips of authorized users An electronic archive system reduces the chance that they will be lost. It also removes the need to rely on manual procedures, which can be slow and prone to errors. It saves space as well by removing the need to buy more storage cabinets, and also reduces operating costs by moving rarely used data to more economical storage areas.
Lastly, a cloud archive also makes it easy to conduct regular data audits. For example, if an employee wants to check the conditions of a contract prior renewing it, they are able to access the contract from the archive.