The cost of document storage varies depending on the specific needs of the business. If you deal with a high volume of documents, however, you know that it can be expensive. This applies to both paper-based and digital archives that are managed on site.
According to The Paperless Project, the cost of renting an offsite document storage facility is 150 dollars per month for an average business. A PricewaterhouseCoopers survey shows that document storage at a business venue is way more expensive. A company spends 25,000 dollars on filling a single document cabinet and the cost of maintenance per year is 2,100 dollars.
While some of these numbers aren’t that shocking, they will add up over time. This is the main reason why some businesses are looking for an alternative. Cloud storage for business is an excellent idea because it makes the cost of document management easier to swallow. There are several reasons why cloud solutions are less expensive and why they make sense for nearly every business out there.
Eliminating the Cost of Replicated or Lost Copies
The very same PricewaterhouseCoopers analysis suggests that the cost of finding a lost document is 122 dollars. Add duplicates to the picture. Having many people making multiple copies of the same document will increase the amount a company spends on office supplies and printer maintenance. Through cloud storage for business, such costs can be eliminated altogether.
Very often, companies end up having dozens of copies of the same file due to ineffective management of the archive. Through a cloud-based solution, companies have a single file that’s available on demand. Everyone can access this copy, make modifications and share the results with coworkers without costing the company anything.
Cutting the Cost of Primary Storage
This is obviously the biggest cost linked to maintaining a perfect archive. Cloud storage for business reduces the figure significantly. It’s much more affordable than getting an office that features enough storage space or renting an additional venue for the purpose of organizing the business archive.
Cloud technology offers on-demand solutions. This means that businesses will be paying solely for what they need and for what they’re using. A small family-operated business will spend a lot less on document storage than a big corporation. This scalability makes cloud storage solutions so desirable.
Reduced Cost of Security
When you migrate your database to the cloud, you’ll be getting an entire host of security options. Multiple access levels and encryptions are just two of the options. The reduced risk of a security breach will obviously help businesses save lots of money. Cloud-based solutions ensure compliance with document management norms in the respective field. Backups are created, making it almost impossible to lose sensitive, proprietary or confidential information.
Data plays a massive role in business success. The loss of data can be costly and it can ultimately ruin a company. Better security features make it possible to eliminate a serious risk and the costs that are linked to it.
Increased Productivity and Better Resource Management
When onsite document storage is taking place, whether paper-based or digital, some people will be committed to maintenance and organization. Cloud storage for business is a managed solution. A company will be free from worrying about server maintenance, upgrades and modernization. The cloud solution provider will be handling all of those. Company employees will thus be free to focus on more important tasks at hand. The selection of the right solution will increase productivity and eventually – the revenue that a company is capable of generating.