The traditional way of storing important documents has always been on paper. For centuries, paper was the only sensible option available, even if it came with some serious downsides in terms of longevity and security.
But the digital revolution has offered a much more efficient solution, so in this guide we’ll cover everything you need to know about paper document storage problems and how a cloud-based solution can help you avoid them as well as enjoying many more benefits.
Paper document storage problems
“Because we’ve always done it this way” is never a good explanation for sticking with outdated technologies or strategies, because it means ignoring what doesn’t work about them. And there are clear issues with paper records storage.
Here are just some of the examples:
1. Storage space
Physical document storage has one very obvious complication, which is that the more you store, the more space you need. So if you keep needing to store additional documents, eventually you’ll run out of room, meaning you need to upgrade from an original storage room to a bigger one, then to a warehouse.
And there’s costs attached to this space, which is all the more unnecessary if that space could either be used for something else or just disposed of altogether. So you could be paying a premium for storage that could be used much more effectively.
2. Security
One of the most serious paper document storage problems is that your documents are at risk of falling into the wrong hands because they exist physically and can be stolen. Those that feature sensitive information about bank accounts, staff or client details, etc can put you at risk of real trouble if they are taken or simply mislaid.
With paper storage, it’s also very difficult to be certain exactly who has accessed that information. After all, creating a paper trail only means adding more documents that need storing physically. So you can often have no way of knowing who has accessed documents or even track where those documents have been and whether they have been copied or even removed.
3. Efficiency
Along with the very serious issues around security, paper document storage can also simply be a nuisance that wastes your time and energy. You can end up with duplications of the same important document and no way of knowing which is the most current version.
Documents can also be incorrectly filed, causing time to be spent tracking them down. Even if they are in the right place, finding them isn’t always a quick and easy job, especially if you have a whole warehouse full of paper. When it comes to financial documentation, this can lead to delays in paying suppliers or even taxes, causing organisational and legal issues.
4. Natural disasters
The most dramatic of all paper document storage problems is that having all of your important documentation in one physical place can backfire if that place gets destroyed, taking all of the paperwork with it. It goes without saying that both water and fire mix very badly with paper, so floods or fires can potentially wipe out everything you have in storage if you’re unlucky.
So you need to consider what the impacts of this would be on your business. How easy would it be to operate if you lost years of documentation in the space of a few hours? And then you need to think about whether there could be a better way…
The benefits of cloud storage
Now we’ve covered the many issues that exist with paper document storage, what is the alternative? A cloud-based solution helps you solve all of the above issues, eliminating the need for physical space, minimizing the security risks and protecting you from theft or natural catastrophes.
The benefits of a cloud-based solution include:
1. Storage space
As your business grows, your need for storage is also likely to grow, which could be a problem if you need physical space to store it, especially if multiple copies are needed in different locations. This isn’t a problem in the cloud, where you only need one copy that the right people can access, cutting down on the amount of storage space needed.
More importantly, document digitization opens up potentially limitless storage space without any on-site space required, so you don’t need a warehouse full of filing cabinets or even servers, saving money on this space and any costs related to managing them and keeping them secure.
2. Security
A cloud-based solution means that you can know exactly who has accessed your documents, as well as keeping a tight control over who can access and edit them. With a cloud-based blockchain storage solution you can even be assured that documents cannot be edited, while they are also secure from being hacked because of the decentralized nature of blockchain, making it an ideal option for document archiving.
3. Efficiency
With a cloud-based solution, finding your files is simple and straightforward because you can search for them digitally instead of physically hunting for a needle in a haystack. So there’s no more wasted time and no more redundant versions of files causing confusion because documents can be safely and securely stored and archived with cloud storage.
4. Natural disasters
Blockchain-based cloud storage also means that your important documents are no longer tied to a single physical location, protecting you from fire or floods. It also means that your documents are available remotely in the case of a disaster like a pandemic causing staff to no longer be able to access your offices physically.
Why cloud-based blockchain storage is the future
We’ve covered the issues with paper document storage in this guide and it’s clear that businesses need to move on from this out-dated form of storing important documents.
The risks and complications are simply too great with the impacts ranging from frustration to unnecessary expenses to potential disaster.
Blockchain-based cloud storage has to be the way forward. It is more safe, more secure, more efficient, helping your business be more streamlined, more resilient and ready to move into the future instead of being tied to the past.
To find out more about how Cert Trace will be a part of this ongoing revolution get in touch at info@tracert.digital.
