Making sure your business is compliant is essential for operational, professional and legal reasons. A lack of compliance can leave your business open to fines, damage your company image and get you into hot water with the regulatory bodies.
If you’re currently using outdated file tracking software, you may be breaking rules and regulations without even realising. Here are just a few ways that old, unsupported software could make your business vulnerable and put your compliance at risk.
Known Vulnerabilities
Outdated software often contains numerous vulnerabilities. A lot of the time, these vulnerabilities are well known and so can be easily exploited by hackers or other bad actors. This can leave your company open to potential compliance breaches and put your sensitive information in harm’s way.
Data Breaches
Since the new GDPR rules were introduced in 2018, businesses are required to protect the data they store from the threat of breaches. If a breach does occur, it can result in your business being subject to significant fines.
As outdated software is more susceptible to breaches, using a system that’s not up to scratch could cost your business dearly. As well as fines, breaches can damage customer trust and even have an impact on your company’s reputation.
Regulatory Requirements
There’s a good chance that outdated software won’t be able to meet regulatory requirements as they evolve over the years. This could result in compliance violations, many of which have significant professional and financial consequences.
A Lack Of Support
After a few years, vendors and manufacturers generally stop supporting their products. If your older software is no longer supported by the company you purchased it from, it will leave you and your team to handle any technical issues yourselves. This can make problems a lot harder to resolve and cost you time and money.
FileTrack
If you want to avoid these common issues, the best solution is to use an up to date and fully supported document archiving management system like FileTrack. Constantly evolving and built on the latest platform, it’s supported by our expert team and designed to give you the security, convenience and usability you’re looking for. Ideal for organisations that want to mitigate the risk of data breaches and ensure their company is compliant, the file tracking software is perfectly suited to the modern business landscape.
To learn more about paper file management system FileTrack, and get a better idea of how the file archiving system can transform the way your business operates, get in touch with a member of our team or
Book your FileTrack demo today.
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