Cloud Storage is Paving the Way for Multifamily Professionals to Simplify Data Management
The average multifamily professional processes hundreds, if not thousands, of pages of paperwork annually. That paper adds up in a big way in terms of cost and the labor spent handling it. On a national scale, it’s estimated that U.S. businesses spend anywhere from 25 to 35 billion-dollars filing, storing, and retrieving paper. If that isn’t enough to stop you dead in your tracks, an average of 4 weeks is lost each year, trying to locate misfiled, mislabeled, or lost files. Every lost file costs 125-dollars in lost productivity. With numbers like these, it’s no wonder that businesses are slowly moving towards paperless practices .
Cloud-based document storage is championed by companies across multiple industries, who are seeking increased convenience, infinite space, and security. Eighty-three percent of enterprise workloads will be in the cloud by next year, and many prominent brands have already jumped on the bandwagon. Digitized document storage is a tool that can help property owners and managers simplify filing processes and improve productivity. With the proper execution of cloud-based document storage, your property management team will run more efficiently, have seamless team access, and be able to create optimal safety measures.
One incentive that cloud-based storage offers, is an improved organizational structure within your company. If you’ve grown tired of haphazardly organized information and files, you’ll be grateful to learn that content uploaded to the cloud boasts several organizational features, like categorizable folders and labels with time and date stamps. Files can be backed up with each new version, so you’ll always have a full record of changes made. Additionally, permissions can be integrated to ensure that documents remain where they are supposed to be – securely in the hands of your professional management team and leasing agents.
This refined organizational structure is in due part to another positive factor of cloud storage: seamless team access. With cloud storage, multiple team members can access files concurrently, easily distribute them across multiple properties, and capitalize on the security of maintaining sensitive information. This offers the increased flexibility for both corporate and remote staff to exchange documents, allowing better collaboration, increased efficiently, and the ability to work from any platform. In fact, having increased document storage mobility is the leading reason why 55 percent of companies choose to adopt cloud technology into their work processes.
Cloud access also minimizes your operating costs with less equipment to purchase and maintain. The need to investing in hardware, facilities, utilities, or building out a large data center to store your documents are eliminated. You can relax and enjoy the expertise of your cloud provider’s staff. The scalability and flexibility of the cloud will contribute significantly to the cost savings, as you only pay for what you need. This is an essential differentiator that has been driving the cloud adoption for years.
Remember, your ability to manage a successful multifamily property is dependent upon your access to information. Thankfully, online document storage knows no physical bounds of time or place and grants your team unlimited access to the files that matter most, regardless of when or where access is needed. When all is said and done, a cloud-based document storage solution is just as valuable to teams within conventionally-structured office environments, as they are to remote workers and frequent travelers.
With data being the core of your operation, a private, cloud-hosted solution can transform the way you do business. Offering a smart way to manage documents, 365 Connect provides a centralized storage solution designed to improve data sharing and collaboration. From drop and drag bulk uploads to permissions-based access, our document management platform will keep your team organized and efficient. Get in touch to learn how our cloud hosted document storage platform will help you work smarter together.