3 Ways Cloud Document Management Can Save You Money
As businesses struggle with increasingly expensive rents and labour costs, keeping expenditures in check is becoming a top priority: even in Asia, business costs are slowly creeping up 
due to inflationary pressures and a rising middle class.
Luckily, companies of any size can keep costs in check by migrating from fixed assets (servers, storage drives) to cloud services (like cloud document management).
Besides reducing expenditures such as storage drives and printing costs, cloud document management services also improve the security posture of organisations lacking dedicated IT teams. Here's how:
Lower IT costs
By digitizing all your documents and moving them to the cloud, you can stop worrying about buying more physical storage for papers as your business grows – you pay only for the cloud storage you need to house your digital documents. And you will save on printing and IT support costs with the cloud, by printing only what you need and removing any on-site hardware management requirements.
Save time
Paper workflows are notoriously slow – consider the delays caused by mailing a paper contract to a customer, and waiting to receive the signed document. The opportunity cost of such delays can run in the millions.
By creating new digital document workflows that support digital signatures, and by using a cloud document management system for better employee collaboration, you can greatly accelerate turnaround times.
Improve document security
There's no way of knowing who’s seen or copied your paper documents, leaving your paper-based workflow vulnerable to unauthorized access. That is a risk you should not accept, given the $3.86 million average cost of a security breach .
Conclusion
A cloud document management solution creates a clear audit trail that reveals who’s read, edited, or printed documents. Together with proper access controls, cloud document management systems will keep valuable corporate data out of the wrong hands.
