Online Document Storage for your Fund Management Software System

Your team is bound to amass a library of documents during both the fundraising and due diligence processes. Storing these documents in an organized manner is critical to efficiency and there are now a variety of services available to help you store these documents in the cloud rather than on a local shared drive.

With shared drives, not only are documents usually only available locally, but there are often issues related to not having a standardized folder naming convention resulting in lost time searching for documents. So storing your documents online just makes sense–if your fund management software is in the cloud and accessible from anywhere, your document storage system should be as well.

The trick with document storage is to store the documents in a way so that everyone on your team knows where to find things and the amount of time they have to spend looking for documents or asking someone else where they are is kept to a minimum. Ideally you are able to store documents so that they are related to specific records in your database and some solutions solve that problem better than others. The right online document storage system for your firm will depend on variables such as your budget, the size of your team, and the amount of documents you need to store.