Thesis
With so much of our daily lives now powered by technology – a trend accelerated by the rise of remote and digital working post-Covid – data security has become a significant ESG issue. According to the World Economic Forum, cybersecurity is now one of the five key risks facing businesses globally: more than 80% of UK companies have experienced a successful cyber-attack in the last year. This is creating strong demand for services that can help companies digitise and secure their critical data: the electronic data storage market is forecast to grow at about 15% in the coming years.
Investment
Storetec, based in Hull, provides outsourced document scanning, archive storage and cloud-based document management solutions to businesses in both the public and private sectors, including NHS Trusts, councils, FTSE 100 companies, professional services firms and SMEs. This enables the 400+ organisations it works with each year to protect their most sensitive data and build more sustainable digital workflows.
The company has multiple gold standard accreditations and has won numerous awards for the quality and security of its services, including Business of the Year (for its digitisation business) and Records Management Product of the Year (for FreeDocs) at the Document Management Awards.
Outcomes
Over the last decade, Storetec has digitised over 333m paper records: FreeDocs, its proprietary digital platform, now stores over 8,000GB of data. For customers, Storetec’s services enable improved data protection, regulatory compliance and archives access, and – by supporting their digitisation journey – lower carbon emissions via reduced paper consumption.
https://www.storetec.net/
