As your enterprise grows, so does the volume of content you need to store. Think of financial statements, intellectual property, contracts, policies, employee data, customer records, and market reports — the list goes on.
If your goal is to scale your operations and become more efficient along the way, you can’t rely on traditional on-premises document storage solutions. A Frost & Sullivan report found that 70% of businesses say their volume of data increases by 25% each year. To accommodate this ever-increasing demand for document storage, a move to the cloud is your best option.
Let’s take a deep dive into the benefits of cloud document storage.
What is document storage in the cloud?
Document storage in the cloud refers to the practice of uploading, storing, and managing electronic files on remote servers and accessing them through the internet. You can access your stored documents from any device with an internet connection, enabling seamless collaboration and real-time sharing among teams, even in geographically dispersed settings.
Document cloud storage typically includes these key features:
- A centralized hub for all organizational paperwork, providing efficient enterprise storage management
- User-friendly browse and search functionalities, making it easy to locate and retrieve documents quickly and accurately
- Customizable workflows, enabling automated document forwarding, notifications, and approvals
- Remote team collaboration, allowing document owners and managers to communicate, make comments, and edit documents collectively
- Enhanced data security with features like permissions and versioning, ensuring document safety and recovery options
Factors driving the adoption of document cloud storage
Fortune Business Insights projects that the global cloud storage market will grow from $108.69 billion in 2023 to $472.47 billion by 2030 — that’s a CAGR of 23.4%. This increased demand for cloud solutions confirms their critical role as the bedrock of digital transformation initiatives. By 2026, three out of four organizations will adopt a digital transformation model built on the cloud.
Document scanning and cloud storage serve as an ideal starting point for digital transformation projects due to their far-reaching impact on organizational efficiency and collaboration. By migrating files to cloud-based document storage, you streamline access and share information seamlessly.
Are you a first-time cloud user? Check out our tips for businesses that are new to the cloud.
Top 7 benefits of online document storage for enterprises
Here’s how enterprises benefit from cloud document storage.
Online document storage enables access to files from any internet-connected device. This convenience eliminates the need for physical file transfers, USB drives, or paperwork. You save time and effort while reducing the risk of data loss due to misplaced or damaged paper documents — or physical drives.
Not only do cloud storage solutions make it convenient to access files on the go, they also enhance collaboration. These solutions facilitate secure file sharing within your organization through links or shared folders. And they often come with collaborative features that allow multiple users to work on the same document simultaneously.
Enterprises handle an enormous volume of documents due to their size and global presence. The larger the organization, the greater the requirements for corporate data storage. Unlike traditional on-premises solutions that require costly infrastructure upgrades and maintenance, cloud storage for documents offers unmatched scalability. With cloud storage, you easily scale up or down based on changing needs, ensuring efficient management of document storage requirements as data volumes fluctuate.
Cloud storage allows businesses to pay only for the storage they use, eliminating the need for expensive on-premises hardware and maintenance costs. This pay-as-you-go model is cost effective, making a document-storage cloud an attractive option for organizations of all sizes.
5. Security and compliance
Cloud service providers implement robust security measures (e.g., encryption, access controls, and multi-factor authentication) to protect stored documents from unauthorized access, data breaches, and other potential threats. They also handle software updates and maintenance, ensuring that users have access to the latest features, bug fixes, and patches without any need for manual intervention.
6. Data redundancy and backup
Secure cloud document storage solutions typically include redundant data backups, ensuring that files are replicated and stored across multiple servers and data centers. This redundancy minimizes the risk of data loss and ensures business continuity in case of hardware failures or disasters.
7. Version control and audit trails
With document control, you easily track and manage revisions, ensuring that the most current and authorized version is always accessible. Additionally, audit trails meticulously record activities within the system, granting transparency and accountability. This comprehensive tracking mechanism enables businesses to monitor document access, modifications, and sharing, promoting data integrity and facilitating adherence to regulatory requirements.
Adopting a cloud document storage model requires careful planning and execution — from selecting the right provider to training employees on the new cloud-based workflows.
To help you navigate this process, read our step-by-step guide on how to implement a cloud document management system.
Watch out for these 4 signs that you need secure cloud document storage
Moving your documents to the cloud might seem like a daunting project, but it’s a necessity if you want to stay competitive. Watch out for these four signs you need secure cloud document storage.
1. It’s hard to find documents
You don’t know where your digital files are — or perhaps you still rely on old-fashioned paper.
The cumbersome nature of physical enterprise file storage slows down document retrieval and consumes valuable space. Paper documents are susceptible to damage, loss, or misplacement, posing risks to critical information. About three out of four data breaches involve the human element, with physical documents remaining a problem to some degree (e.g., employees forgetting sensitive documents in their seat-back pockets during flights).
Cloud platforms typically include advanced search and categorization features, making it easier to locate and manage documents effectively, resulting in improved productivity and streamlined workflows.
2. You can’t access documents on the go
Hybrid work is here to stay — with only 37% of respondents of a McKinsey survey going to the office every day. Cloud-based storage allows employees to access files from anywhere, fostering seamless teamwork.
3. Your on-premises databases are nearing storage limits and require frequent upgrades
As your enterprise expands, you need more space to accommodate the growing influx of documents that drives your operations. Cloud solutions offer scalable options, ensuring your enterprise efficiently manages growing requirements without constant hardware investments.
Another red flag is if your current document system lacks robust data backup and disaster recovery mechanisms. In this case, you’re at risk of data loss in the event of hardware failures, cyberattacks, or natural disasters. Automatic and redundant cloud backup ensures your documents are safe and can be restored in case of any unforeseen incidents.
4. You’re worried about security incidents
In 2023, data breaches cost an average of $4.45 million per affected organization. Cloud providers implement advanced security features like encryption, multi-factor authentication, and access controls, ensuring your data remains protected from unauthorized access and meets compliance requirements. An effective online document storage system offers robust security measures to safeguard your data from unauthorized access or leaks.
Ready to future-proof your cloud documents?
The Content Cloud empowers organizations to manage the entire document lifecycle. From file creation and cloud document storage, to e-signature and sharing, our single secure platform makes it easy for you to collaborate on content with anyone, both inside and outside your organization.
With quick access to digital files from any device, you stay productive and efficient, no matter where you are. And our enterprise-grade security and compliance give you the peace of mind that your cloud documents are protected.
Reach out to our team to learn more about our products and features.
Explore our secure platform for cloud document storage
**While we maintain our steadfast commitment to offering products and services with best-in-class privacy, security, and compliance, the information provided in this blogpost is not intended to constitute legal advice. We strongly encourage prospective and current customers to perform their own due diligence when assessing compliance with applicable laws.