A common thread between businesses of all sizes and sectors is that they have documents and those documents need to be managed. Some of us are disciplined at this and can find whatever is needed in a matter of seconds and some of us are… let’s just say, not like this! So what we need is a document management system.
The majority of companies we talk to have vital documents in Email Folders, Network Drives, Cloud Storage Systems and even on paper in Lever Arch files.
From a risk management perspective documents can be vitally important. In many instances a document is the only evidence you have that you have got something (ie. Insurance) or have done something (ie. Risk Assessment).
As an example Employers Liability Insurance is a legal requirement to have in place and display or make available to all staff. Failure to be compliant with the law can lead to a fine of up to £2,500 per day. To ensure this doesn’t happen to you, a number of steps need to take place:
- Understand the legal requirement to have Employers Liability insurance (EL)
- Buy appropriate EL insurance
- Display or make available the EL certificate
- Remember to renew your EL policy before it expires
- Display or make available the new EL certificate
- Keep a copy of the expired EL certificates just in case a historical claim is brought against you (not a legal requirement but we strongly recommend it).
This is just one Legal & Compliance document amongst the average 40 documents per company we see across all of our users. Managing risk documentation effectively can be a huge distraction from the day job for most businesses, so that is why TrackMyRisks securely stores and manages all of your vital risk documents for you.
The TrackMyRisks platform can show you what documents you need, make them available to those that need them and most importantly remove the opportunity for accidental document expiry through regular expiry reminders.