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4 Business Benefits of Electronic Document Storage

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As the head of a business one of your responsibilities is increasing efficiencies in order to maximize profits. In an effort to achieve this, many companies have made the transition to electronic document storage.

This system consists of a central database that holds an organization’s documents where they can be accessed by users anytime, anywhere. If your company has not made the transition to this type of system yet, below are 4 immediate benefits that you will enjoy by doing so.

1. Savings

When it comes to documents and paperwork, waste is very common. This occurs when employees use excess paper and print documents that are not needed. Also, keeping printed documents takes space and file cabinets to store which can add to your overall costs.

When you make the transition to electronic document storage, you do not need to print documents until you need them. This saves you paper and space required to store documents, meaning you can keep your office on the smaller side and avoid paying higher rental costs that typically accompany larger spaces. The reduction in printing also translates into savings on toner and repair costs on your printer.

2. More secure

The information enclosed in your company’s documents may be sensitive. You want a mechanism in place so it cannot be accessed by just anyone and you want to know about every occurrence where someone does.

Electronic document storage allows you to increase the security of your documents. Such a system allows you to set passwords, install firewalls, and put encryption in place. If inclined, you can even set password for each document, allowing you to control what files employees have access to. Electronic document systems keep track of who logs in and accesses what document and when, holding employees accountable for their actions and allowing you to monitor activity appropriately.

3. Efficiency

At your company there are probably many instances where there are whole teams working on projects or at least two people who may be doing the same type of work. You could also have multiple branches in different cities or countries with people who need to access the same documents. In situations like these you definitely want to consider electronic documents storage.

Electronic document storage allows all of your employees to access the same document regardless of their location. Employees can work on documents and save them to the database, ensuring that everyone who should have access does and each team member is working on the same, up-to-date file.

Electronic storage systems usually have a search function allowing employees to search for a document they need by keyword and without performing lengthy searches. This allows them to get what they need quickly and without delay which will translate to greater efficiency in their duties.

4. Secure

Your documents are stored safely in desks and filing cabinets currently, but disasters such as fire and flooding can occur at any time. With no backups of these documents, it could mean complete losses of work done on projects, serious delays, and setbacks that could cause you to lose customers.

Using electronic storage systems means all of your files are stored on the cloud. This allows you to access them no matter where you are. Therefore, if your office space is ravaged by fire or hit with a flood, you can log in to the database and all of your documents will still be there. This will allow you to continue your operations at another site until the mess is cleaned up or you can assume new space.

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