Customers walk over poor records management

Consumers will no longer stand for excuses of 'missing files' from the likes of banks and utilities. Of the 1,000 UK adults questioned by compliance management company AXS-One, 58% said they would lose trust if brands couldn't find their customer details.

"Losing a customer because of what boils down to poor digital archiving is like throwing shareholders' money down the drain," says Mark Donkersley, management director at AXS-One.

"The cost of replacing a single lost customer can range from a few pounds to three or even four figures, without considering the lost revenue stream."

With this in mind, you need to put plans and systems in place to cope with the fast-expanding digital archive content - snowballing at 49% a year, AXS-One says.