Rising shift toward cloud-based document management

For an organization to remain efficient and productive, it's crucial that information is readily accessible to the staff members who need it, regardless of their location. As more firms look to ensure this capability, many are turning to cloud-based document management systems, which enable users to retrieve critical records from any place and on any device.

The Connecticut Law Tribune reported that a recent in-house survey explored how the consumerization of tablets and smartphones has caused an infiltration of these devices into the corporate legal environment. An overwhelming 76 percent of respondents said that legal staff is able to bring in and use personal devices. However, the survey also revealed that lawyers are using these devices with no particular strategy, with a particular emphasis on messaging or simple document viewing, while more sophisticated capabilities are going untapped.

The study also found that law departments are increasingly embracing the cloud, with 63 percent of respondents using these services now, up from 50 percent in 2011. The news provider noted that while previously, the cloud came with many concerns regarding control, security and customization, legal departments have adopted these services with minimal regrets. In fact, 80 percent said the transition was mostly positive, with the remaining 20 percent stating it was somewhat positive. The survey also determined that the main uses for the cloud included eDiscovery, litigation support, billing, document management and storage.

Overcoming challenges
One of the ways in which cloud-based document management can greatly fuel efficiency is by allowing the firm to conquer data overload, according to Bank Systems & Technology. The news source noted that as more than 81 percent of adults in North America have at least one bank account at a financial institution, these companies have a lot of documents to manage for daily operations, including audit preparations and credit and loan files.

Smaller, regional banks in particular may struggle to gain control over these files due to limited resources and storage space. As a result, the news provider suggested that a cloud-based document management system could be crucial for success. These solutions empower organizations to manage records without the need for cumbersome file cabinets. And furthermore, employees no longer have to waste time looking for documents, allowing them to spend more time with customers. The source also pointed out that as external offices and branches have access to these files in the cloud, collaboration within the company greatly improves.

A cloud-based document management system can enable banks, law offices and a variety of other enterprises to streamline business processes and drive a considerable competitive edge.

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