Why is Cloud Storage Beneficial for a Business?
Published: 17/09/2019
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Cloud storage is a valuable asset for all types of businesses for various reasons, ranging from easier team alignment and collaboration to improved digital security. Overall, it’s a must-have 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. But if numbers aren't your thing, we have another example. Just think of the valuable space those bulky filing cabinets occupy in your office. Space that 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, the 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 best way to eliminate paper documentation entirely is to use a cloud platform. Cloud technology is well-known for needing no additional hardware to operate. It allows businesses to access the software through internet browsers while securely 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 of relevant documentation for the entire team. This increases 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 biggest benefits of cloud storage solutions is that they enable greater business mobility. You and your staff can access documents anywhere, anytime, from any connected device, helping you work much more efficiently. Part of being a flexible business involves the ability to evolve and adapt to technology.
Additionally, the cloud allows you to provide 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.
Moving document storage to the cloud is sure to save your business money. What you pay for a cloud service provider will likely be far cheaper than your annual expenses for items like paper, ink, internal power, and the space occupied by filing cabinets. You also won’t incur costs for installing any software or for additional 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 simultaneously work on a file. Furthermore, the actions of each individual are tracked and recorded. These actions are then 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 collaborations 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 enables 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 your teamwork.
When discussing digital solutions, it’s often assumed that only businesses benefit. However, digital platforms that enhance performance and productivity frequently provide better experiences for end users as well. In terms of digital storage utilisation, adopting such solutions benefits everyone, even those not directly associated with 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 using a different device. In contrast, if you ruin the paper copy and it has no backups, it’s gone forever.
Additionally, cloud platforms are usually only accessible to authorised users, who need to enter the system using an email address and a 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 you store 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, particularly concerning documents that are infrequently used or serve 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 aforementioned 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. An 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 in both of our products. Whether it’s for onboarding, contract storage, receipt uploads, or other uses, you receive it when purchasing either of the solutions. 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 you to track 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, from enhancing document security and decluttering the office to broader effects like eco-friendliness. Cloud storage provides convenience, accessibility, smoother collaboration, and an overall better experience for everyone involved. The monthly cost of a product is significantly lower than the ROI it delivers.
Additionally, you are not limited to the basic functionality of the platform. Depending on the software and its capabilities, you can integrate it with other tools you own, thereby designing the experience and functionality of the tool.
Are you prepared to go paperless? We can assist you.