Small business owners may not fully understand it, but there are a number of threats to their companies related to proper document management, or more specifically, the lack thereof. When independent companies make space in their facilities for large quantities of physical files, that's not necessarily a bad thing. However, not having backup and security for essential information can place organizations at serious risk.
Perhaps one of the most publicized issues on this front is data security, and for good reason, according to Salt Lake City television station KSL. Many businesses of all sizes protect significant amounts of sensitive information about employees, customers, clients and the like. This data can be exposed in a number of ways, from hacking attacks and accidental leaking online to misplacing physical files.
What can be done?
With this in mind, a strong document management platform and utilization of proper robotic process automation can help small businesses better safeguard data on an ongoing basis by ensuring that information is only accessible to the people who are authorized to see it, the report said. Moreover, it's vital for business owners or other stakeholders to make sure those systems are patched with the latest security updates as often as they come out.
These platforms can also be effective in backing up data, but it's important for employees to understand the best ways to use them so that there are no mistakes that lead to systems being compromised, such as accidentally downloading a malicious file, the report said.
Another concern
Meanwhile, an issue many owners may not consider but which could have a significant impact, not only on their data but also their business as a whole, is natural disasters, according to CNBC. For instance, about 40 percent of small companies that get hit with hurricanes never open again because of how costly the damage was. Backing up data in the cloud may be critical to staying afloat after a disaster.
With these concerns in mind, it's vital for small businesses to back up their data with a document management system, and ensure they have proper processes in place to keep things running smoothly, even if problems arise.