3 benefits of cloud storage for your business’ digital archives

Companies today collect and process so much data that storing it all is becoming an issue. In the past, a few filing cabinets provided more than enough space and security. But times have changed immensely in recent years, especially with the rise of remote working, and businesses must respond rapidly to ensure their data remains secure.

It’s time to move on from analogue and commit fully to digital. Storing data on paper or on your own servers is expensive, inefficient, and potentially unsafe, but companies are often put off by the traditional assumption that new technology is unaffordable and risky. In fact, investing in the right technology could significantly cut your file storage costs, improve security and speed up workflows, all of which are top priorities for businesses trying to stay ahead of their competition.

So, let’s take a closer look at three benefits of cloud storage for your digital archiving needs.

1. Reduce costs

Too many businesses are unaware of just how much money they’re wasting by refusing to go digital and capitalise on the benefits of cloud storage for business. Vast quantities of data are received every day and storing it all on paper is no longer viable from a financial perspective. However, uploading all this information to on-site servers isn’t always the solution either. This is especially true for inactive data, which is used so rarely that paying to store it on-site isn’t justifiable.

Put simply, if you store data on-site, you’re throwing money away. Looking beyond the cost of the storage space itself, you also need to consider the maintenance and security costs associated with fire or flood prevention. The question arises: is it really worth spending so much money on storing data you hardly ever use, especially when hybrid workplaces are already reducing the need for large centralised office spaces?

According to a survey of Australian C-Suite leaders, cost competitiveness is a top priority for CEOs and businesses across Australia, underscoring the pressure on leaders to keep spending to a minimum. Luckily, cutting costs often catalyses innovation, so cheaper storage alternatives are now available, such as digital archiving with Content Services.

Content Services solutions enable you to digitise your inactive data and move it to the cloud, freeing up physical space for more productive use. The potential savings are immense, as the cost of cloud storage is minimal compared to the cost of buying, maintaining, and protecting filing cabinets or on-site servers. The money saved could even be reinvested to drive digital transformation and grow your business. 

2. Minimise risk

Another serious business problem that can be avoided with the benefits of cloud storage is data tracking. It’s tough to prevent unauthorised access to paper documents, which could result in their loss, misfiling, or destruction. What’s more, poor data storage could lead to licences or contracts not being renewed on time, causing downtime and delays in production, as well as fines for non-compliance during audits.

Some companies see the answer in moving their data to on-site servers, but this isn’t always the most secure document storage solution. Servers with inadequate management and protection can actually increase the risk of data breaches. No business is safe from cyberattacks; although the large companies may make the headlines, smaller firms are just as likely to be targeted by cybercriminals. And if any business were to lose access to its data, it would cease to function.

In contrast, when data is archived digitally using Content Services and cloud technology, access can be limited to authorised personnel. This feature adds an essential layer of accountability by removing the possibility of anonymous edits. Logs are maintained to monitor who views, edits, or downloads information, so you can be assured that your data is secure. In addition, this solution lets you program notifications so you won't have to worry about fines for expired contracts or licenses, as you’ll be reminded to renew them in advance.

Keeping your documents and your clients’ information safe and secure is part and parcel of operating in the modern business landscape. Given the advanced security features of the cloud, it makes sense to move your company’s most valuable assets to the most secure environment.

3. Increase efficiency

Reducing your reliance on paper is the most effective way to operate in today’s highly competitive digital environment. However, merely scanning company data onto servers is not a practical solution either, as poorly organised company servers are just as chaotic as filing cabinets. Delays in data retrieval can cause measurable drops in productivity, as a few minutes each day add up to significant wasted time over the course of a year.

Poor organisation also hinders productivity and collaboration. If different departments mistakenly use multiple versions of the same document, even the simplest project will overrun. No employee wants to waste valuable time making phone calls to work out what the most recent changes are, or what needs to be done next. Such operational inefficiency may seem harmless, but it can be highly frustrating for employees and have knock-on effects on customer experience and satisfaction. 

To improve workflows, your business needs a Content Services solution with advanced digital archiving capabilities. This technology can identify and classify documents by type during the scanning process and add the appropriate indexing tags. Tagging the most crucial information, such as invoice date or customer number, makes it easier to find files in the future, allowing employees to focus on higher-value tasks and increase productivity. 

Another one of the benefits of cloud storage for businesses is that it offers remote access. Regardless of location or time zone, multiple departments and users can consult or edit the same file at once. This feature boosts collaboration and helps teams to meet deadlines. By using a single, shared file, everybody can be sure that they are using the latest version with the most up-to-date information.

What are you waiting for? 

The benefits of digital archiving are undeniable. Not only can you free up space that could be used for other purposes, but you can also cut costs associated with maintaining and securing storage areas. In addition, digital data archives are more organised and easier to search than old-fashioned filing cabinets, enabling employees to retrieve and use data instantly. Quick and easy access to information improves the customer experience, as queries can be addressed immediately with accurate data. Finally, storing data in the cloud is safer than on paper, which could easily be misfiled, destroyed, or viewed by unauthorised individuals. Digitally archiving your data on the cloud is the most innovative way to help your company achieve its objectives with minimal cost and risk.

Businesses are handling more documents and data than ever before, and many are struggling to keep up. The answer to this challenge lies in leveraging modern technologies, such as Content Services, to drive business efficiency and growth. Download the ebook today to learn more.

KYOCERA Document Solutions supports Australian and New Zealand businesses on their digital transformation journey with innovative products and software solutions.