Companies that embrace online document storage can improve their security, productivity, profitability, and more.
Change isn’t always for the better. Sometimes, the new way of doing things falls short of both expectations and the old way of doing things — and those with experience can be all too aware of that possibility.
But companies contemplating switching from a paper-based process to online document storage can breathe a sigh of relief. That transition will not result in buyer’s remorse. Instead, it’s likely to positively impact almost every area of the business, from security to productivity.
Keep reading to explore five of the biggest benefits of this modern approach to information management.
Read our free ultimate guide to learn how you can effectively implement the best document storage system for your business.
What is online document storage?
Online document storage refers to a cloud-based service where individuals and organizations can store, access and share digital documents over the internet. It allows users to store, manage, and share their documents securely, and access them from any device with an internet connection. Businesses that use online document storage
can integrate supporting technologies, like document management systems and cybersecurity tools, to improve the accessibility, security, and effectiveness of this approach. During the implementation of this system, these businesses often research how to store important documents online and may seek the advice of experts with digital transformation experience.
Although organizations in every sector can benefit from online document storage, companies operating in traditionally paper-centric industries like law, accounting, and healthcare can gain particularly substantial improvements from adoption.
5 ways online document storage improves business operations
Improved collaboration
Businesses that store documents online can improve their ability to collaborate on projects. Cloud-based document storage supports streamlined reviewing, comprehensive edit tracking, and quick file sharing. And, because the files are accessible from any location, they also enable modern organizational models like distributed and remote work.
Enhanced security
Paper information can be difficult to monitor, secure, and safeguard. Determining who has viewed what paper documents is challenging without extensive security systems or admin-heavy checkout processes. And unless they’re kept in a secure location at all times, essential documents can be stolen off a desk, destroyed in an office fire, or lost if misplaced. Electronic files, on the other hand, may be easier to monitor, harder to destroy, and easier to keep track of when a business uses an online document storage system.
Reduced costs
Storing physical documents can be expensive, especially for law firms, healthcare companies, and other businesses working in paper-centric industries. This traditional method can gobble up costly office space, require additional security, and create time-consuming manual processes. Electronic document storage can be accessed, stored, and secured more easily, significantly reducing costs.
Better standards
Developing effective and consistent information processes is tricky with paper. But companies that use online document storage and document management systems can roll out new formatting standards, adopt improved workflows, and enforce best practices at scale — without anywhere near the managerial legwork.
Higher productivity
Transporting, printing, mailing, and searching through paper documents is often labor intensive — diverting your team’s attention from higher-value tasks. Online document storage systems can allow businesses to reclaim all that wasted effort and boost their overall productivity.
Did You Know?:The fi-8170 can help companies adopt online document storage by enabling them to rapidly transform paper documents into digital files. In fact, this enterprise-grade solution can scan up to 70 pages per minute and 10,000 pages per day. Click here to learn more.
3 challenges of document storage online
While digital storage has many security advantages, it does have its own set of challenges. Documents hosted online can't be destroyed in a fire — but they can be deleted by a malicious computer program. From configuration to data governance, here are three challenges of online document storage for businesses.
Configuration
Misconfigurations in online document storage are errors in the setup of the storage system that potentially leaves the system vulnerable to compromise. Poorly implemented access controls are one of the most common misconfigurations, and this issue can allow important or sensitive documents to be seen, destroyed, or stolen by cybercriminals. These errors are easy to make, so companies that use online document storage should account for cybersecurity concerns from the planning stages through to regular maintenance.
Security controls
Cybersecurity controls help organizations safeguard their online documents by spotting threats, protecting the data from compromise, and mitigating the impact of an attack should a breach occur. These controls — which can include a mix of policies, physical measures, cybersecurity technology, and more — are also relatively easy to implement incorrectly. Consequently, most businesses should work with cloud document storage providers to ensure proper security controls are in place.
Data governance
Data governance in online document storage is how organizations manage electronic files throughout their entire lifecycle — from file creation to deletion. Companies without established data governance standards can allow cybercriminals to access their information due to incomplete file elimination practices, unencrypted data, and other data management issues. Here again, companies should work with experienced cybersecurity experts who know how to keep important documents safe online to flesh out a comprehensive policy.
Our recommendation: fi Series scanners
Those in the market for scanning, digital transformation, and online document storage solutions have no shortage of options. We take great pride in having spent the last 50+ years researching, designing, and developing some of the most advanced and powerful electronics in the world, including our professional grade fi Series scanners.
Built to purpose for the most demanding document handling jobs, fi Series scanners are capable of processing tens-of-thousands of pages per day at the highest levels of accuracy. Their intuitive integration capabilities with all existing work suites minimize time-to-value for businesses looking to invest in tools that will pay dividends for years to come.
Looking to transition your business’s paper documentation to an online storage system? Consider using digital transformation and scanning solutions like fi Series Scanners. These powerful tools can translate mountains of paper documents into digital files in minutes. Click here to learn more or shop the rest of our production scanner line.
