Top 5 Cost Savings Tips: Practical Steps For Reducing The Hidden Costs Of Information Management

By Iron Mountain

To assist in your efforts to improve the bottom line, we've compiled a list of five best practices you can employ to significantly reduce the cost of information management.

It's no secret that companies today are creating — and storing — more information, in more formats, than ever before. What you may not see are the expenses associated with this escalating volume of disparate paper and electronic records — especially when storage is decentralized across locations. And as storage costs go up, so does the risk of additional labor costs and the financial penalties that occur when people cannot find what they need.

To cut the costs of storing ever-growing quantities of paper and electronic records, focus on keeping only what's necessary to support critical business processes and meet regulatory requirements. Start by developing a legally credible retention schedule that defines how long records must be retained. Use this as a guide to determine what you don't need. Finally, create processes to ensure that retention is applied regularly to records in all formats. These activities will help you reduce data volumes, save money and ensure you can produce the right information when needed.