It consists of keeping important documents in an organized and structured manner, generally for legal, tax, historical or administrative reasons, and often requires calling on a specialized company if you outsource this task.
Using a specialist archiving company may incur service fees, storage fees and possibly document retrieval fees. These costs can accumulate and become significant depending on the volume of documents to be managed.
Additionally, you depend on a third party to manage your documents. This may cause delays or complications if you need quick access to archived documents and the records management company cannot respond to your request immediately.
Finally, although archiving companies may offer document retrieval services, access to your archives may be limited by opening hours and request procedures. This can be a problem if you need frequent or urgent access to your archived documents, or if the storage facilities are located far from your business.