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record keeping

The importance of record keeping: Avoid data loss with PDFfiller

Too much paperwork can turn into mind-numbing drudgery – especially when done on a daily basis.

Every day, thousands of documents are submitted not because they’re ready to be submitted – but just because people want them off their desk and out of their way. So it’s no wonder documents drop out of sight almost immediately after they’ve been received.

At the same time, data preservation is crucial for every business activity. According to a Helical IT survey, a data-driven approach to decision making is up to 79% more efficient than the one based on intuition.

Even by using digital document platforms there’s no guarantee you won’t accidentally lose a document, file or folder due to some sort of malfunction – like, for instance, the Microsoft Sidekick user data loss case involving thousands of customers who had encountered a massive data breach (including contacts, photos, and calendar events) because of a server failure.

 

Main reasons for data loss and how to avoid them

  • Human-factor mistakes. It’s possible that you may accidentally delete a file or folder – simply because the delete key is too big. Or maybe an external hard drive fell off the table? Happens more often than you think!
  • Hard drive failure. A Google survey states that 1 out of every 2 hard drives you have is likely to fail after 5 years of use.
  • Loss or robbery. A computer or laptop is a likely target when someone breaks into a house or office. On the other hand, more than 600,000 laptops are lost at airports across the U.S. yearly, – not to mention in taxi cabs, coffee shops, etc.
  • Hacker attacks. On August 20th, 2018, T-Mobile was hit by hackers who gained access to personal information from roughly 2 million customers.
  • Software issues and viruses. According to a number of studies, viruses and malware cause up to 7% of data loss.
  • Natural disasters. Thanks to global warming, more and more fires and floods occur in the country every year, putting countless businesses at risk; and this fact shouldn’t be underestimated.
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Without data you’re just another person with an opinion

Tasks or projects can last for months.

Without proper data management, it’s difficult to keep track of everything and bring all the pieces together at the end of the day. The proper assessment and management of data is key when making business decisions.  

This is exactly why it’s important to collect, automate, backup and secure your data, i.e. personal information and documents, emails, application forms, transactional data, etc.

 

How organizing data contributes to your business growth

  • Monitor the progress of your business. Structuring your data allows you to make informed business decisions, improve sales and productivity, and see what changes should be made to your market strategy (if any).
  • Prepare financial statements. Preparing an accurate financial statement is a must for any business entity. You’ll most certainly need one when dealing with your bank, investors or the IRS.
  • Keep track of incomes and expenses. Receiving money from many sources can be a challenge. Also, without effective organization, it’s easy to forget some expenses when preparing your tax return.
  • Submit your tax return. The IRS may ask you to explain the items reported on a tax return. A complete set of records will help you pass the examination without any fuss.

 

Keep important data within your reach. Use a reliable document management solution

Cloud-based solutions are getting more and more popular with both companies and individuals. And this should come at no surprise. They’re astonishingly simple and low-cost.

PDFfiller gives you the possibility to kill two birds with one stone. Its browser-based editor is equipped with a powerful set of tools for editing all categories of documents, by organizing them and storing them in the cloud – which prevents disorder and helps you avoid data loss situations. Try it today and make sure to follow these simple rules to keep your data in order:

  • Organize files and folders. Make sure that information on a particular topic is kept in one place.
  • Name folders after the areas of work to which they relate.
  • Separate older documents from those you are currently working on.
  • Use the My Docs folder for recent files and tasks. Move the old files to a different folder or location.

Don’t let paperwork become a barrier to business efficiency. Keep data organized and streamline your document management processes with PDFfiller.

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