Cloud document management comes with numerous and significant benefits. Apart from reducing operational costs, it lowers risks and also saves time. It allows your company to attain compliance with regulatory requirements more quickly. Cloud-based DMSs enable your employees to work from anywhere. It removes the need for additional servers, computer hardware, and expensive onsite security infrastructure. It is accessible from any computer with an Internet connection and doesn’t require software installation or firewall configuration. Digital files are less likely to be damaged or lost than paper files and can be easily stored in a backup. It is easier to meet the requirements of compliance such as Sarbanes-Oxley, Gramm-Leach Blair and SEC regulations. Advanced features such as metadata tagging, check-in procedures, and search capabilities allow you to easily organize and retrieve documents.
Cloud-based systems are also easy to scale. This is compared to traditional onsite system that require large storage space due to the influx of information. Cloud-based applications are also much more environmentally sustainable than traditional paper documents since they don’t require cooling systems that consume large amounts of energy throughout the day.
A third advantage is that IT support is not required. Since third-party service providers handle hardware and software, they can dramatically reduce the amount time that is spent on internal maintenance of servers update, fixes, patches licensing requirements, user monitoring backup creation and other administrative tasks. This allows your IT staff in house to focus on their main goals and improve the efficiency of your organization.