Covid-19 has caused a shift in cost-cutting among companies in industries across the board. In fact, according to a Gartner, Inc. survey, 62% of the 317 CFOs and finance leaders assessed are planning cuts. While 38% of finance leaders are hoping to avoid cuts in 2020, 18% are planning to downsize budgets in all categories. Data file archiving has always been an essential part of business; it has quickly become a necessity, positioned at the front of the line for "must-have projects."
As employees learn to adapt to the accelerated cost-cutting procedures, they will need to prioritize what must go and what must be upgraded. When it comes to data file archiving, there are things that all business owners must analyze before they dive into the options available to their particular organization. The growth of files isn't slowing down, but there's flexibility when it comes to finding a system that caters to your needs. Like most things in life, preparation is key when navigating your way through the daunting task of landing on a data file archiving system.
Growth During A Pandemic
The process of planning for growth goes hand in hand with a leadership role. As long as you foresee your company continuing to grow and adapt to changing times, then it's a no-brainer that your files will grow right along with it. As I mentioned in a previous post, cleanliness and a minimalist approach to archiving have been the main focus for business owners, especially when it comes to customer and employee data.
Failing to plan for this growth can likely cause your company to go into deep hibernation. The already-stretched budgets that companies have are now facing even more scrutiny. You are being forced to maintain operations, "keep the lights on" and stop important projects that were started at the beginning of 2020. The wish list projects and discretionary spending is pretty much being pushed until 2021 and beyond.
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