Most Companies That Consider External Document Custody Services Do So for One of Two Reasons:
1.Lack of Storage Space
To continue archiving physical copies of the documents they produce, companies often face high storage costs or need to allocate that space for more productive activities.
2. No One Takes Responsibility for Managing Archived Documents
This leads to various challenges, including: Document filing and organization, Searching and retrieving documents when needed, Tracking who has access to which document and for how long, Ensuring document security, Returning documents to their designated storage location, Conducting document audits and purging outdated files, Monitoring retention periods, Ensuring confidential document disposal, By outsourcing document custody services, businesses can optimize space, improve efficiency, and maintain better control over their documentation.
Why Is Document Custody Necessary?
1. Ahorro de costes de almacenamiento
In certain cases, some documents must be stored indefinitely, but this doesn’t mean companies have to spend a fortune on storage. An external document custody service is significantly more cost-effective than keeping them in-house, especially when considering the cost per square meter**. The valuable office space that is freed up can be used for **income-generating activities.
Document storage services typically charge per stored unit, which can be a box, container, or binder used to hold documents. In some cases, if the documents being stored include files or medical records, the billing unit may be based on the linear meters of stored documents.
In any case, if the archived documentation is stored on the company’s premises, the cost will be based on the total space allocated for document storage. However, if the documents are kept in an external document custody service, the company will only pay for the units of storage used. The savings can be significant, as outsourced storage facilities are often located in areas where the cost per square meter is much lower than that of the company’s office location.
2. Improves the Security of Document Access
The management of private document archives requires a security system that ensures protection and access identification, including surveillance cameras and other security measures—features that a conventional business does not typically have in its facilities.
Using an outsourced document custody service transfers the responsibility for security to the service provider, who—if properly chosen—will have the knowledge, experience, and resources required to protect the company’s confidential documentation.
The company will not only guarantee the protection of access to documentation but also manage the traceability of requested documents to identify who requested them and how long they have had them. Additionally, it can recommend the secure disposal of outdated confidential documents.
3. Enhances the Physical Security of Documentation
The facilities of a document custody and archiving company are equipped with strict security measures to ensure the physical protection of documents. Compared to in-house storage, keeping documents in a purpose-built facility offers unmatched protection against theft, fires, floods, and natural disasters.
Each document is stored in a high-density shelving system and safeguarded with the latest fire detection and suppression technology. The security system consists of multiple layers, including internal and external monitoring, access control that restricts and logs all entries, movement tracking within the facility, and protective measures against flooding, among others.
Instead of assigning a single storage space for the entire document archive, the document inventory is divided and stored anonymously, identified only by a barcode, across various points within the facility. While unauthorized access to the facility is extremely unlikely, it would be impossible to identify which boxes belong to the same company.
4. Improves File Access
Searching for a document archive can be overwhelming, especially when colleagues and clients need quick access to critical information. For example, imagine a patient’s medical history is unavailable before a surgery—this could lead to serious complications. Storing documents with a document custody company ensures that files are always accessible when needed. Each document is coded and tracked within an inventory management database, making retrieval fast and efficient.
Having access to a secure online portal makes it easy to view the external inventory and request documents at any time. Many providers even offer the option to deliver physical documents directly to the client's premises or scan and send them digitally, ensuring quick and efficient access to important records.
Document custody also helps protect the company’s privacy and confidential information. By securely storing and managing documents, businesses can prevent sensitive information from falling into the wrong hands, reducing the risk of legal and financial issues.
Para hacer la custodia documental correctamente, se deben seguir algunos pasos importantes:
What Happens During the Document Custody Process?
The process includes various control and review mechanisms to ensure compliance with defined strategies and achieve documented objectives. Key aspects include:
- Storage and Handling:
- Identification Based on Codes and References
- Preservation and Protection Conditions
- Optimized System and Interface for Access
Key Identifications in the Process:
- Condition of the Files
- Preservation Periods
- Final Disposition
