With so much data flying around these days, it’s easy for a company of any size to get overwhelmed. If something important falls through the cracks, say a contract renewal or outstanding bill, your financial standing and reputation could suffer. Here are four ways to get — and keep — your big data management accounting in order:
Look at your data in broad categories and see whether and how you can simplify things. Sometimes refiling documents under basic designations such as “vendors,” “leases” and “employee contracts” can help you get better perspective on your information. In other cases, you may need to realign your network or file storage to more closely follow how your company operates today.
Put together a formal big data management accounting effort toward getting organized. This can help you target what’s wrong and determine what to do about it. In creating this policy, spell out which information you must back up, how much money you’ll spend on this effort, how often backups must occur and where you’ll store backups.
Web-based data storage, now commonly known as “the cloud,” has been around for years. It allows you to store files and even access software on a secure remote server. Your company may already use the cloud to some extent. If so, review how you’re using the cloud, whether your security measures are adequate, and if now might be a good time to renegotiate with your vendor or find a new one.
Much of your company’s precious data may not be in files or spreadsheets but in emails. Although it’s been around for decades, this email has recently grown in significance. This medium continues to play a starring role in many legal proceedings. If you haven’t already, establish an email retention policy to specify everyone’s responsibilities when it comes to creating, organizing and deleting (or not deleting) emails.
Virtually every company operating today depends on big data management accounting to compete in its marketplace and achieve profitability. Please contact us regarding cost-effective ways to store, organize and deploy your company’s mission-critical information.