Document Archiving: What You Need to Know

In the business world, where there are thousands upon thousands of documents moving around, keeping them safe once they reach the end of their lifecycle is a crucial process businesses must adhere to. Terminating a document's active phase doesn’t diminish its importance. Instead, it elevates the significance of secure and responsible management. Whether you deal with digital documents or physical copies, we discuss the importance of correctly archiving and disposing of them in this blog post.

• What is document archiving? 
• Why is document archiving important?
• The legal requirements of document archiving 
• What software is suitable for secure archiving? 

What is document archiving?

Document archiving is the process of placing inactive documents into long-term storage while ensuring they’re easily retrievable at a moment's notice. Not only is archiving documents needed for easy access to old documents, but it also provides security and legal protections regarding documentation while adhering to compliance legislation.

We break document archiving down into two categories — electronic document archiving and on-premise document archiving. The difference between the two is simple to understand. Electronic document archiving refers to any digital document form, while on-premise refers to physical or hard copies. There’s a diverse range of documents that you may choose to archive for various purposes, and the specific documents archived depend on your organisation's needs, industry regulations and the nature of your operations, but could include:

• Legal documents: Contracts, agreements, certificates, compliance records and legal correspondence
• Financial documents: Invoices, receipts, financial statements, tax records and audit reports
  HR documents: Employee records, payroll records, performance evaluations, training materials, and HR policies and procedures
• Business correspondence: Emails, letters, memos and faxes
• Reports: Business reports, research reports, project proposals and feasibility studies
• Administrative documents: Policies and procedures, manuals, guidelines and standard operating procedures
• Customer and client records: Customer orders, client contracts, customer feedback and sales records
• Marketing and sales materials: Marketing plans, advertising materials, sales presentations, brochures and catalogues
• Intellectual property: Patents, trademarks, copyright registrations and licensing agreements
• Healthcare documents: Medical records, healthcare policies, and procedures and patient records 
• Educational records: Academic transcripts, student records and educational policies
• Project documents: Project plans, progress reports, meeting minutes and design documents
• Technical documents: Technical specifications, manuals and engineering and drawing documents
• Research and development documents: Research papers, lab reports and experiment data
• Event records: Event planning documents, attendee lists, event evaluations and GDPR consent
• Environmental and safety documents: Safety procedures and incident reports
• Historical and archive materials: Historical records

As we've established, the types of documents that need to be archived change for every organisation, which means the information contained within documents changes, too. However, several key elements are commonly included in archived documents to ensure completeness, clarity and compliance. Here are some essential pieces of information that you should consider when archiving documents:

• Document title: This should clearly state what the document is about
• Date of creation: This should specify when the document was created for visibility on relevance and the document lifecycle stage 
• Author/creator information: This should identify the individual or entity responsible for creating the document for accountability purposes
• Version control: If the document undergoes revisions, indicate the version number or date of the latest revision to help track changes and ensure that the most recent information is used
• Recipient information: This should specify the intended audience or recipients of the document to help understand the document's context
• Purpose or objectives: This should clearly articulate the purpose or objectives of the document 
• Content and body: This should include the document's main body with all relevant information, details, analysis, findings or any other content as applicable
• Attachments or appendices: If there are supporting materials, attachments or appendices, include them or reference their location
• Signatures and approvals: If applicable, include signatures or e-signatures of authorised individuals or approvals related to the document 
• Metadata: Capture metadata such as document type, keywords and categories to aid in organising and searching for archived documents efficiently
• Related documents: Reference any associated documents or cross-references that might be relevant for a more comprehensive understanding
• Security and access controls: If the document contains sensitive information, outline security measures and access controls so only authorised personnel can view or modify the document
• Compliance information: Include information regarding compliance with relevant laws, regulations or industry standards, which is critical for legal and regulatory purposes.
• Retention period: Specify the document's recommended or mandated retention period to help determine how long the document must be retained before disposal
• Disposal instructions: If applicable, provide instructions for the eventual disposal or destruction of the document, mainly if it contains sensitive or confidential information

Why is document archiving important?

Documents keep your organisation running, so keeping them safe is a top priority. 
Other than the overarching benefits of staying compliant with legal regulations and keeping all documents in a centralised place, archiving documents offers various benefits for organisations like yours.

Achieve a paperless office
If your documents are already digital or you’re looking to digitise them, electronically archiving your important documents can help you reduce paper usage and waste in the office, and prevent the loss of documents and printing inefficiencies. 

Save costs
Efficient document archiving can lead to cost savings associated with reduced physical storage requirements, streamlined document retrieval processes and minimised risk of data loss. This is also true for avoiding fines for not staying compliant. 

Be ready for anything
Archiving contributes to business continuity by providing a backup of essential documents. Organisations can recover critical information from the archive in the event of a disaster or data loss, minimising downtime and disruptions.

Meet client expectations
Archiving systems help organisations meet customer service expectations and comply with SLAs by providing quick access to customer-related documents and records.

Improve workflow efficiency
Streamline document workflows by automating processes such as document categorisation, indexing and retention scheduling with document archiving systems. This improves overall workflow management and reduces manual intervention.

Make better business decisions
Having a historical record of activities can be invaluable for retrospective analysis, 
decision-making and learning from past experiences. 

Harness collaborative working
Archiving facilitates efficient collaboration and knowledge sharing within organisations. Team members can access archived documents and share information without wasting a great deal of valuable time endlessly searching for them. 

Preserve data 
Safeguarding data is a top priority. Electronic document archiving systems often employ measures such as encryption and checks to ensure the integrity of stored data.

We suggest investing in a digital system to preserve this crucial data, as keeping it on the cloud would prevent damage to physical documents. 

The legal requirements of document archiving 

A running theme throughout this article is that document archiving is needed to comply with regulations. We can't highlight this importance without giving visibility to the things you need to be aware of:

Data Protection Act 2018 (DPA 2018) and General Data Protection Regulation (GDPR)
The DPA 2018 and GDPR mandate is the responsible handling and storage of personal data. Organisations are required to implement measures to protect the rights and privacy of individuals, including the secure archiving of relevant documents. Retention periods for personal data must also be adhered to.

Freedom of Information Act 2000 (FOIA)
Public authorities in the UK are subject to the Freedom of Information Act, which grants the public the right to access information held by public bodies. Archiving ensures that organisations can respond to information requests in a timely and organised manner.

Financial Services and Markets Act 2000 (FSMA)
Financial institutions are subject to the FSMA, which includes requirements for record-keeping and archiving. This is crucial in the financial services sector to maintain transparency and accountability and to facilitate regulatory oversight.

Companies Act 2006
The Companies Act 2006 sets out various requirements for companies regarding record-keeping, including the retention of accounting records, minutes of meetings and other important documents. Archiving is essential to meet these legal obligations.

Health and Safety at Work Act 1974
The Health and Safety at Work Act obligates organisations to maintain records related to health and safety in the workplace. Archiving such records is essential for compliance with health and safety regulations.

The Electronic Commerce (EC Directive) Regulations 2002
These regulations impose certain record-keeping obligations on service providers engaged in e-commerce. Archiving electronic communications and transactions helps ensure compliance with these regulations.

Sarbanes-Oxley Act (SOX)
While the Sarbanes-Oxley Act is a US legislation, it can impact UK-based companies with listings on US stock exchanges. SOX mandates strict record-keeping and archiving practices to enhance financial transparency and accountability.

Pensions Act 2004
Organisations providing workplace pensions in the UK must comply with the record-keeping requirements outlined in the Pensions Act 2004. Archiving is crucial for maintaining accurate and accessible pension-related documentation.

Regulatory compliance in specific industries
Various industries like healthcare, law and telecommunications have specific regulatory bodies and compliance requirements. Archiving is often necessary to meet industry-specific record-keeping obligations.

What software is suitable for secure archiving?