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Online business records are documents that detail the activities and transactions of a business. They are vital to ensure compliance with legal requirements as well as for economic planning and decision-making. Record keeping that is accurate helps businesses to comply with tax laws and prevent lawsuits. It is also used to monitor trends and performance.

Maintaining accurate records can be an enormous task for a large or small company. A recent study showed that 74% of small-scale business owners saw their earnings increase after implementing effective record-keeping practices. If you want to take your company to the next level, you must to ensure that all the information and data you have is organized, accessible, and secure. Onehub is an excellent online record management tool.

A business records system will assist you in creating uniform processes for address organizing your files and documents. This includes creating file organizational systems and digital storage solutions and assigning roles for maintaining records. It aids in creating uniform file and folder names and create policies for records storage, access, and disposal.

A good online record management system can also help you determine unique security levels for each kind of file. Some files, like job applications or offers that contain sensitive data or personally identifiable information (PII) might require a higher security level than other types of documents. This allows you control over the ways employees access and share these documents.