Why is Cloud Storage Beneficial for a Business?
Published: 16/09/2019
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Cloud storage is a valuable asset for all types of businesses for various reasons, including easier team alignment and collaboration, as well as improved digital security. Overall, it’s essential for companies seeking digitisation. In this article, we aim to encourage decision-makers to utilise it to its fullest potential.
Is your business ready to go paperless? Perhaps it will be after reading the recent statistics on document storage shared in a BMPS article. However, if numbers aren't your thing, we have another example. Just think of the valuable space those bulky filing cabinets occupy in your office. That space could be used to accommodate more employees or maybe to create a breakout area for your team.
Once we embrace flexible working, we must welcome flexibility in how we share documentation among remote teams. However, as the world slowly returns to the office, old habits of printing and stockpiling paper documents threaten to resurface. Therefore, let’s discuss why you should continue using digital storage instead of physical copies, even if your business has shifted back to a fully in-person attendance model.
The most effective way to completely eliminate paper documentation is by using a cloud platform. Cloud technology is renowned for requiring no extra hardware to function. It enables businesses to access software via internet browsers while safely storing, sharing, and collaborating on data.
Centralised cloud-based storage offers more to a business than mere convenience. An easily accessible hub positively impacts processes across the organisation. It provides straightforward access and visibility to relevant documentation for the entire team. This enhances team alignment by minimising the chances of miscommunication. It ensures transparency regarding progress and setbacks within the organisation. However, let’s explore some less obvious benefits.
Arguably, one of the greatest benefits of cloud storage solutions is that they enable enhanced business mobility. You and your staff can access documents from anywhere, at any time, using any connected device, which helps you work much more efficiently. Part of being a flexible business involves the ability to evolve and adapt to new technology.
Additionally, the cloud enables you to offer more flexible work options for your team, which could aid in staff retention. This includes options such as remote working, which 90% of employees in a study expressed a desire to have offered at least part-time.
Transitioning document storage to the cloud will definitely save your business money. What you pay for a cloud service provider is likely much cheaper than your annual expenses for items such as paper, ink, internal power, and the space taken up by filing cabinets. Additionally, you won’t face costs for installing any software or for extra hardware.
Unlike Excel sheets, which only allow a preview mode when someone is editing a document, there is no limit to the number of users who can work on a file simultaneously. Furthermore, the actions of each individual are tracked and recorded. These actions are implemented only if other contributors approve them. This ensures that your team has full visibility of one another’s actions at all times, both in real-time and through history.
Such an approach not only facilitates smooth collaboration but also mitigates the risk of crucial data being overwritten. Changes can be easily reverted and traced back to the individual who made them. This allows you to restore the data and use the situation as an opportunity to investigate and address the cause of misalignment. In other words, centralized document storage is an excellent tool for enhancing teamwork.
When discussing digital solutions, it’s often assumed that only businesses benefit. However, digital platforms that enhance performance and productivity frequently offer better experiences for end users as well. In terms of digital storage utilisation, adopting such solutions serves everyone, even those not directly connected to your organisation.
Unlike paper copies, digital documents are less susceptible to external damage. Sure, you might accidentally spill a cup of coffee on your laptop just as easily as you would on a paper document. However, with a digital version, you can access an unchanged document from a different device. In contrast, if you damage the paper copy and have no backups, it’s gone forever.
Additionally, cloud platforms are typically accessible only to authorised users, who must enter the system using an email address and password. Hacking into a digital directory is more complex than accessing physical document storage, making it less susceptible to compromise. This minimises the risk of a potential data breach. Furthermore, the vendor of the solution should not have access to the documents stored on the platform. To ensure this, always familiarise yourself with the Terms and Conditions of the software.
In addition to benefiting both your business and the end user, the digitalization of your paperwork significantly aids our planet. Having a readily accessible digital copy allows for easy distribution without the need for paper or wasted ink, especially for documents that are seldom used or function as one-time handouts.
It is also worth remembering that many physical documents are often left in printers. Even more are discarded immediately if there is a printing mistake. Other issues, such as errors noticed only after printing or accidental damage to documents, also lead to reprinting. Overall, many factors can contribute to wasted energy, paper, and ink. While this might not seem significant when assessing your own actions, remember that everyone is susceptible to this. Going paperless is a great solution for reducing waste, saving time, and cutting costs.
Despite the previously mentioned benefits being some of the key arguments for promoting cloud storage, the list is not limited to them. In fact, you can enhance your cloud solution by integrating it with other tools. Integration is essentially a connection between two pieces of software that allows them to exchange data, thereby centralising different solutions in a single digital toolbox.
At Timesheet Portal, cloud storage is included with both our products. Whether for onboarding, contract storage, receipt uploads, or other uses, you receive it when purchasing either solution. Given our wide range of integrations, its capabilities and ways of utilisation are limited only by your imagination.
Speaking of integrations, our document storage already includes two options. When you purchase either Project or Recruitment, you gain access to a cloud platform that supports e-signatures for documents and enables tracking of time-sensitive materials. This means that, for instance, if your employees need a certification to work that has to be renewed every few months, you will receive reminders about an upcoming renewal as the date approaches.
Going paperless isn’t just a trend; it's a beneficial approach for businesses of any size. There are numerous advantages, ranging from enhancing document security and decluttering the office to promoting eco-friendliness. Cloud storage offers convenience, accessibility, smoother collaboration, and an overall better experience for everyone involved. The monthly cost of a product is significantly lower than the return on investment (ROI) it delivers.
Additionally, you are not confined to the platform's basic functionality. Depending on the software and its capabilities, you can integrate it with other tools you own, thereby customising the experience and functionality of the tool.
Are you ready to go paperless? We can help you.