Public works departments oversee many services critical to local communities. Additionally, inadequate planning and organization could lead to disruptions in the delivery of water, sewage, or electrical services. Given the importance of these public services, there are many rules and regulations in place to ensure proper compliance.
Generally speaking, the public offices and private organizations involved in the provision of public works services are required to obtain all the requisite approvals and abide by a very particular set of protocols. As a result, this paperwork-heavy sector demands strict document retention and management strategies. Here are some of the key documents that must be maintained and how utilizing a virtual data room (VDR) can be advantageous to these critical public services.
Retain Permit Applications and Supporting Documents
Service providers are often required to apply for and obtain specialized permits before engaging in certain business activities. For example, a permit may be needed for sewer access, wastewater discharge, or chemical disposal. These permits usually require a fairly detailed application along with adequate supporting data with respect to a company’s ownership information, business activities, and operational characteristics. These permits may be held for a short period or over a longer term.
Regardless, the application and supporting materials should be saved during the life of the business in the event that subsequent permits are needed, or an issue with an existing permit arises. It is helpful to keep this data stored electronically in an online repository such as a VDR. This ensures that the information is safely stored and easy to access, almost indefinitely. Moreover, using a VDR eliminates the need to hold voluminous hard copies in bulky, overflowing filing cabinets.
Catalog Issued Permits, Licenses, and Certificates
In addition to safeguarding permit applications, it is crucial to ensure that copies of issued permits, licenses, and/or certificates are also maintained securely. Although the hardcopy originals of government-issued permits are sometimes required, it is always a good idea to upload a copy of all critical paperwork into an online database. Electronic files and folders are easy to create and maintain within a VDR, so designating one such folder just for these types of vital documents will help ensure that there is always one copy safely stored and easily accessible.
File Reports and Analyses
Companies engaged in the delivery of public services must frequently monitor and report on various performance and compliance standards. This may include the furnishing of detailed reports relating to operational processes as well as the extent of possible environmental impacts. Compiling these reports is generally mandated on a monthly, quarterly, or annual basis. Individual reports may also be requested if there is an outage, spillage, or some other unfortunate event. Thus, saving electronic copies of such reports and analyses within the VDR can prove vital to facilitating compliance.
Maintain Meticulous Operational Records
VDRs are incredibly versatile, and one data room can be utilized for many purposes. In addition to housing permits and compliance matters, a company’s corporate records, intellectual property, and virtually any other critical company data can be safely stored within a VDR. Any reputable VDR provider will prioritize data security so that confidential information can reside safely within the system. Plus, centralizing company information in one secure location streamlines collaboration and workflows.