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Importance of Online File StorageData loss and unauthorized access can bring about unprecedented events and literally make yourcompany go out of business. Data loss is a contributing factor to declining profits, significant downtimeand in the worst case scenario complete shutdown of business. So always make sure that you have acompetent online file storage system onboard to make your business documents. Before delving furtherinto the subject here are a few facts regarding how data loss can affect your business: 60% companies that have lost their data close all operations within 6 months 6% of all PCs will suffer an episode of data loss in any given year. Given the number of PCs used in US businesses in 1998, that translates to approximately 4.6 million data loss episodes. At a conservative estimate, data loss cost US businesses $11.8 billion in 1998. (The Cost Of Lost Data, David M. Smith) Companies unable to resume operations within 10 days of a disaster are unlikely to survive. (Strategic Research Institute)These are some shocking facts indicating what happens when we do not take preventive measures toprotect our data. Traditionally data backup was taken in CDs and DVDs but they were also susceptible todamage. The emergence of online document storage and sharing applications played a key role in dataprotection.With online file storage systems one doesn’t have to think about data security as all documents arestored in remote off-site servers. So even if something happens to the office the documents remainsafe. As a user all you have to do is scan all physical documents and upload them with your onlinedocument management application. It is easy, safe and a better alternative than handling physicaldocuments.Online document management systems are not only safe and easy they are also cost effective and canhelp your business significantly cut down on paper related costs. As with document storage onlineapplications you can control all information flow in and out of the organization you do not have to bearany cost of mailing documents, postage fees or the cost of filing and indexing official records. You canmail files right away from the application itself.If you consider using online document management software then make sure it is HIPPA compliant.HIPAA stands for the Health Insurance Portability and Accountability Act of 1996 and it was created as aset of rules for protection of health related information. Vendors of document management systems
who become HIPPA compliant ensure that all their client’s data and information stored within theirservers are protected and enjoys ultimate privacy.