Wait until you have to pull a specific report in five minutes and realize the person who wrote it left the company months ago. Hunting through old emails while a regulator is watching is probably a very stressful thing a business owner can go through. A better move is to get a system that pulls all those risks and documents into one dashboard so nothing slips through the cracks. You can use this risk management software
https://kopexa.com/ . This platform helps you centralize all your compliance data and keeps every tiny detail organized. It keeps your team on the same page and ensures you are always ready for an unexpected check.