3 advantages of electronic data storage for modern businesses

In the face of unprecedented growth in business content and data, alongside a changing security landscape, businesses are facing increasing challenges in storing documentation. Many organisations are still storing both original and hard copies of their data and have yet to realise that this type of document storage is both costly and inefficient, especially when compared with the advantages of electronic data storage. Tighter data protection regulations are also making compliance a growing, yet inevitable, challenge affecting the entire business world. To add to these challenges, customers are increasingly demanding more streamlined, secure services. Sound familiar?

The market has responded to the challenges by creating digital solutions that businesses can adopt. One of the latest trends in document management, known as Content Services, encompasses a wide range of content management features aimed at digitising documents so that you can turn your business content into a digital asset that provides business value. This technological solution can help businesses automate workflows and centralise data to overcome the challenges of physical file storage. 

This brings several benefits for companies adapting to new systems. In this article, we identify three of the most critical changes that businesses experience when implementing content management systems.

1. Lower costs

One of the advantages of electronic data storage is the elimination of paper, printing, filing and file storage costs. As businesses adapt to the changing nature of their workforces, the concept of storing hard-copy files within a company’s facility is becoming increasingly difficult and costly. As real estate prices are on the rise and the amount of documentation to be managed increases, companies are beginning to see a clear need for a more sustainable approach to document storage.

The introduction of a content management solution in a business can enable it to make more efficient use of its overall resources. By using information management tools to capture and manage documents, physical space is freed up and expenses are reduced. Simply put, dead space in offices will become a thing of the past, giving companies opportunities to utilise their facilities more effectively.

No doubt, going digital has valuable advantages. And if your business does have any physical documents that must be retained, they can be sent off to a record management facility that provides more cost-efficient services than on-site storage.

2. Enhance security

Whether digital documents are generally safer is no longer the question of the hour. Paper files can easily get lost or destroyed and be seen by just about anyone. In contrast, digital files managed within a content management system are nowadays virtually indestructible and can be restricted to authorised individuals. 

When a business decides to digitise its documents using a Content Services solution, it also has the opportunity to secure and manage its content. A task is much easier to implement when dealing with digital files. Companies can control who has access to their sensitive documentation and prevent information from falling into the wrong hands by enforcing rules that allow only certain individuals or groups within the company to access specific data. Rules can also be created that authorise access to employees at a specific management level, while always maintaining audited tracking of who has accessed the content.

In addition, your documents are always secure thanks to end-to-end encryption, which keeps information safe and provides digital backups to ensure data will not be lost. If anything is lost or accidentally deleted, you can easily restore all your documents.

3. Fuel efficiency 

When it comes to how the average employee accesses information, we often spend more time searching for it than using it and putting it to work. One advantage of electronic data storage is the ability to create digital archives where desired documents are just a few clicks away. This can lead to a boost in workplace efficiency, with increased productivity often observed after implementing a tool like Enterprise Content Management.

A common problem across industry and business is having multiple copies of the same document and spending far too long searching for and processing them within a company’s system. This means that day-to-day operations become time-consuming and complicated. And in many cases, such as contract management, extensive and poorly organised paperwork can delay negotiations or even lead to lost business.

Digitising paper records can solve these problems and prevent many more. Modern software solutions allow businesses to capture and digitise documents while indexing them, creating a single source of truth with useful, searchable information that, in today’s fast-paced market, can give a company a competitive advantage. Digitising and centralising information with Content Services in a business can lead to significant savings in time and money, while boosting overall efficiency and enabling better resource utilisation.

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.