Better Compliance For Leading Auditor
Accountant Benefits From Cost Savings By Outsourcing Active File Management To Iron Mountain
Regulation governing storage and transport of audit files requires vast investment
Document storage, retrieval, and secure daily transport outsourced to Iron Mountain
Quick and cost effective active file management underpins carbon footprint reduction and compliance
“Dynamic file management by Iron Mountain saves us up to 18 per cent on storage space
and archive management staff costs. It’s much more efficient to outsource these services to a trusted partner.”
The client is part of an international organisation of accountancy professionals offering audit, tax and advisory services.
In the Netherlands the company works from 15 regional offices and has over 4,000 employees, all working together to deliver value and offer their clients a local service.
Audit firms in the Netherlands have to comply with strict regulations governing records management. The company works with documents containing sensitive and valuable client information.
Consequently, safe storage, management and secure transport are crucial. The company stored many documents onsite, held in more than 600,000 files
occupying expensive office space across various locations.
Irrespective of where they are working at any given moment, company professionals need access to their client files. Until recently,
whether working at one of the 15 company locations, the client’s office, or from home, employees would have to leave early every morning
to collect files from the office and return at the end of a long day to store them again.
During the last decade, compliance has become even more crucial for audit firms. For instance, Dutch supervisor AFM (the Authority for Financial Markets
in the Netherlands) has tightened up control of storage facilities for audit files.
A partner at the company explains: “Information on access and use of files is obligatory. Storage and safe transport had become too complicated and expensive to handle ourselves.
So we had to address the issue of what to do with our archive.”
After a tendering process, the company chose Iron Mountain active file management. “It wasn’t just that hiring Iron Mountain would save us money due
to an existing global contract,” the partner continues, “it’s mainly because Iron Mountain is the only Dutch records management solutions specialist
with its own high-security vehicles.”
The migration of 20 kilometres of active files from the company to Iron Mountain took 20 weeks. All were indexed with barcodes to ensure accurate retrieval.
The partner reports: “Twice daily deliveries are made by Iron Mountain to our offices to deliver and retrieve ordered files.
Our people can ask for delivery to the nearest office, collect the files and work on them. They can then return them to the nearest office
again at the end of the day. It saves them time and it reduces our carbon footprint.” A file ordered before noon is delivered by four p.m.,
while files ordered between noon and four p.m. are provided by 11 a.m. the next day.
“The results of outsourcing to Iron Mountain are highly satisfactory. The safety of its service is unique – offering
value for money, with high quality of service, improving our company’s efficiency and compliance.”
The Iron Mountain state-of-the art facility in Alphen aan den Rijn has secure vaults and storage facilities with controlled temperature and humidity,
firewalls, steel doors, 24/7 cameras, and automated zone access. Chain-of-custody is maintained during transport by high-security vehicles with foolproof
locking and alarm systems as well as GPS, so they can be traced 24 hours a day.
The active file management solution offered by Iron Mountain complies with regulation on safe physical storage and transport, and lends transparency
to the handling of files. The partner confirms: “Compliance is crucial for an audit firm. The Iron Mountain web application that’s been developed
for file storage and retrieval tells us exactly who’s been working on what file, when, and why. Also, we can order files through this portal,
which is really efficient. If we need to contact anyone directly, we can call client support twenty-four-seven.”
The partnership with Iron Mountain has brought other benefits too. For example, when the company relocated its headquarters,
having outsourced document storage meant far fewer cabinets were needed at the new site, releasing valuable accommodation.
“The results of outsourcing to Iron Mountain are highly satisfactory,” says the partner. “The safety of its service
is unique – offering value for money, with high quality of service, improving our company’s efficiency and compliance.”
The fact that Iron Mountain offers records management services to large numbers of other businesses
around the world means that it knows how to implement such solutions seamlessly.
The partner concludes: “Dynamic file management by Iron Mountain saves us up to 18 per cent on the cost of storage space and archive management staff.
Moreover, if we still stored the audit files in our offices, we would need to invest in a compliance records management solution, secure facilities,
and our own high-security vehicles. It’s much more efficient to outsource these services to a trusted partner.”
Iron Mountain Netherlands:
P.O. Box 6303
3002 AH Rotterdam
Tel: +31 (0) 10 425 4444
Iron Mountain Belgium:
Tel: +32 (0) 2 172 2020
Iron Mountain operates in major markets worldwide, serving thousands of customers throughout the UK, Europe, US, Canada, Asia Pacific and Latin America.
For more information, visit our website at www.ironmountain.nl or at www.ironmountain.be
© 2013 Iron Mountain Incorporated. All rights reserved. Iron Mountain and the design of the mountain are registered trademarks of Iron Mountain Incorporated.
All other trademarks are the property of their respective owners.