At a time when you are increasingly getting used to going online to pay your bills, buying attractive outfits (with a discount to boot!), tracking your bank statements and Demat accounts, it is quite an ordeal having to keep all your papers and documents intact in the safe. Apart from being absolutely paranoid about losing important documents and bills, we know that over the years, the number of papers to be responsible for will only keep on increasing! Frankly, there isn't so much physical – or mental space – to keep track of the receipt of each and every transaction.
The e-safe feature in companies offering online space for one to store valuable information and receipts should create a sense of huge relief.
The process
The e-safe online feature helps you to access your individual login identity with a password, after you have made the payment online for this service. You can then scan copies of the original receipts, bills and documents and save them online as jpeg or pdf files. Whenever you need to access them, you simply need to log on and access them. These saved files are automatically put under different heads so that you may be able to access them.
In this manner, you are really securing all your documents. Many people these days use their laptops to store different important documents but that is different from putting it on a ‘virtual’ safe – there is no fear of the records getting deleted in case there is a systems crash, or in case of theft or when the data falls into prying hands.
While ICICI, Citibank and IDBI have started this kind of service, there are companies which offer part of the service – storing documents related only to medical records (myhealthrecords.in, where you may scan even X-ray reports) or ITRVault.in pertaining to reports relating to income tax.
The pros
It all stemmed from the idea of companies needing to store huge numbers of invoices online. They outsourced the tracking of this data to online agencies with a proven expertise in digitization. Gradually, financial companies also saw the need for individuals to come under the ambit of online storing. Not only is one cutting postal and archival costs, one has the flexibility of storing the data from anywhere, at any time.
Then again, whenever you are manually manipulating data, there might be a larger scope for mistakes, and the time taken to save and track it will also naturally be much higher and tedious. Here, you have it all at the click of the mouse!
An important part of the storing relates to the organization of this data.
The cons
Unless you are comfortable with the system, it can be cumbersome and add to your worries. Besides, digitizing of documents in case of individuals has not yet caught on in India and you would only want to approach a company you can truly trust.
To many, it would appear like double trouble – in many instances, you still have to keep the physical papers at hand as well as be vigilant online, remember passwords and keep changing these frequently. And the fees –between Rs 500 and 2500 p.a – would again leave you wondering whether you can’t do it yourself!
The e-safe feature in companies offering online space for one to store valuable information and receipts should create a sense of huge relief.
The process
The e-safe online feature helps you to access your individual login identity with a password, after you have made the payment online for this service. You can then scan copies of the original receipts, bills and documents and save them online as jpeg or pdf files. Whenever you need to access them, you simply need to log on and access them. These saved files are automatically put under different heads so that you may be able to access them.
In this manner, you are really securing all your documents. Many people these days use their laptops to store different important documents but that is different from putting it on a ‘virtual’ safe – there is no fear of the records getting deleted in case there is a systems crash, or in case of theft or when the data falls into prying hands.
While ICICI, Citibank and IDBI have started this kind of service, there are companies which offer part of the service – storing documents related only to medical records (myhealthrecords.in, where you may scan even X-ray reports) or ITRVault.in pertaining to reports relating to income tax.
The pros
It all stemmed from the idea of companies needing to store huge numbers of invoices online. They outsourced the tracking of this data to online agencies with a proven expertise in digitization. Gradually, financial companies also saw the need for individuals to come under the ambit of online storing. Not only is one cutting postal and archival costs, one has the flexibility of storing the data from anywhere, at any time.
Then again, whenever you are manually manipulating data, there might be a larger scope for mistakes, and the time taken to save and track it will also naturally be much higher and tedious. Here, you have it all at the click of the mouse!
An important part of the storing relates to the organization of this data.
The cons
Unless you are comfortable with the system, it can be cumbersome and add to your worries. Besides, digitizing of documents in case of individuals has not yet caught on in India and you would only want to approach a company you can truly trust.
To many, it would appear like double trouble – in many instances, you still have to keep the physical papers at hand as well as be vigilant online, remember passwords and keep changing these frequently. And the fees –between Rs 500 and 2500 p.a – would again leave you wondering whether you can’t do it yourself!
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