Businesses need to store data, especially tax and client information, for years, but as technology rapidly evolves, determining the best methods for secure and recoverable long-term storage can be challenging. Physical storage options like CDs, DVDs, external hard drives, flash drives, and SSDs each offer varying lifespans. CDs and DVDs, if properly stored, can last up to 50 years but have limited capacity. External hard drives are more spacious but typically degrade after a decade or less, especially with frequent use. Flash drives offer portability and can last over ten years with proper care. SSDs, utilizing computer chips instead of spinning disks, provide fast access and are often integrated into onsite servers, offering a safe and efficient storage solution. On the other hand, cloud storage stands out as a modern alternative, offering continuous access to information with secure login credentials. It eliminates the need for businesses to keep up with hardware maintenance, as the cloud provider manages updates and security. Cloud storage also safeguards data from technological obsolescence or mechanical failures, ensuring that critical information remains protected and easily retrievable without hardware upkeep.
source: https://proclient.com/long-term-storage-solutions-for-accountants-and-tax-businesses/
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