In times of economic uncertainty, companies always have to be on the lookout for the next downturn and prepare for it. In order to reduce cost, there are many options to choose from. The first choice for most companies is to reduce their employee workforce. From there, they may reduce the benefits they offer. While this will help reduce costs, it comes at a steep price. Moral suffers among the survivors. Productivity and efficiency may also suffer. Let’s also not forget the countless number of former employees who are now out of a job with no way to put food on the table, and not to mention the ensuing PR nightmare accompanied with a mountain of bad publicity. What if I told you there might be another way to achieve long term savings?
Some of the most innovative and successful companies in the history of commerce were not only led by conventional wisdom, but also led by those who were not afraid to think outside of the box. The standard business model begs us to think outside of the box in terms of finding new sources of revenue;, but in terms of cutting expense, we rarely think outside of our cooped-up henhouse. We always follow the same game plan. ScanBox thinks outside of the box when it comes to cutting expense. We have come up with a new game plan that focuses on long term expense reduction through proper records retention policies and practices. Our idea concept of long term planning focuses beyond the normal three-year period most companies look at. Our plan reduces long term expense by not increasing the cost of document storage. How, you might ask? B by digitizing current year archives and reducing storage costs by methodically digitizing prior years’ archived records. This process allows us to systematically work backwards through the existing archive and spreading out the cost over several years. At some point in the backlog, we will reach a certain breakeven point, at which point we can just throw out the old records that have met exceeded their retention cycle dates.
Right now, you may be thinking that the stock market and economy are chugging along and good times are here to stay. Let me remind you, that what goes up, must come down. A good company is always prepared to weather the storm. Implementing the proper records retention policies and practices now can save you expenses over the long term which may save you from having to reduce your workforce in the event of an economic downturn. We know that some of our services come with an upfront cost, so we ask you to think of it as an insurance policy. It is better to have it and not need to use it, thean it is to need it and not have it.
If we have piqued your interest and you want to think outside of the box in terms of records retention, give us a call at 412-667-0253 or email me at Justin.firstname.lastname@example.org.
Audits are more than financials. Are your records retention policies and procedures compliant with ISO 15489-1:2016, or DFARS 252.204-7012?ARE YOU READY FOR YOUR AUDIT?