Cloud storage stores your files online securely, making them accessible from any location via the internet. It eliminates the need to invest large amounts of money to buy space on third-party servers and manage them. Storing files on the cloud frees up space in a company�s office, largely reducing document storage costs. Cloud storage also frees up space on a company�s computer, making it available for other business operations. Cloud storage also allows version tracking for documents, which is mandatory for HIPAA compliance.