This means storing contracts in an office or room, in files or binders. Unfortunately, companies that do not use secure processes, such as electronic signatures, must resort to this alternative for storing their documents. It is the only alternative to keep original contracts in paper format.
Of course, this solution has many drawbacks. First of all, there is a greater risk of loss, theft, or damage in the event of a disaster. Then, the storage of contracts can take a lot of space, and is not necessarily optimal to quickly search for information or data on a specific project.
Archiving contracts on a computer or on a shared database
Many companies choose to archive their contracts on a computer. This solution causes friction because not all teams have access to the documents when needed. It will be necessary to use the computer on which the file is stored to access it.
To limit these inconveniences, some companies use a shared database on which they store documents. Again, this solution is not optimal. These databases are not always secure (it is often impossible to limit access, the data is not encrypted, etc.).
In both cases, it is important to keep in mind that these solutions must respect the conditions related to the authenticity, legibility and integrity of the documents. For example, a simple scan or copy of a contract has no legal value.
Archiving of contracts in an intelligent and secure contract library
The archiving of contracts in a contract library is the most efficient and secure solution to keep your documents. Most often, the contract library is the digital library that gathers all the contracts on the same platform.