Statutory Retention Periods

In numerous sectors, ranging from economics to healthcare, companies are legally required to archive extensive data and documents over long periods. Complying with statutory retention requirements is not just about meeting legal obligations – it’s also about ensuring efficiency and data security.

Summary of Statutory Retention Periods

6-year retention period for:

• Delivery notes

• Payment reminders

• Commercial letters and copies of business correspondence

• Audit reports

• Meeting minutes and price lists

• Assignment agreements

• Offers and records of gifts

10-year retention obligation for:

• Invoices, accounting and bank documents

• Balance sheets, annual financial statements, business reports

• Inventories, import documentation

• Ledgers and other tax-relevant records

Retention obligation of 30 years or lifetime for:

• Court rulings

• Court payment orders

• Legal case documents

In the healthcare sector, extended retention periods of up to 30 years or more are particularly common – posing a significant challenge for any document management system.

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Archiving Challenges – and How kgs Provides Solutions:

The vast number and diversity of document types exceed the capabilities of traditional archiving systems. Archiving must be not only audit-proof but also scalable, high-performing, and legally compliant – especially in SAP-driven processes.

The benefits of kgs solutions in the SAP environment include:

• Audit-proof archiving that complies with GoBD and GDPR

• Full integration with SAP ArchiveLink and SAP DMS

• Support for cloud-based archiving and hybrid scenarios

• No additional middleware required: direct connection to SAP

• High scalability – ideal for large volumes of documents

• Fast migration of existing archives using kgs tools

• A streamlined alternative to complex ECM systems like OpenText

• Reduction of system complexity and maintenance costs

• Certified by SAP, including CMIS compliance