Another thought - have you considered your legal obligations, such as the Data Protection
Act and industry specific regulations.
The Data Protection Act
The Data Protection Act makes it a legal requirement for every business to collect,
hold, and process personal data in a secure way. It contains important principles
for safeguarding information about people and applies to electronic records, not
just paper based.
Vicarious Liability
It is the responsibility of directors to ensure that procedures are in place and
enforced so that electronic documents cannot be deleted from computer systems. If
during a legal dispute it was found out that they had no enforced such procedures
they could become vicariously liable.
The Financial Services Authority
If you are regulated by the Financial Services Authority, then you are obliged under
the Records Management Policy to identify and protect vital documents. Protection
is described as secure storage or the maintenance of one or more backup copies at
different locations.