An online service that allows individuals and companies to lease computer storage space for electronic documents. It's "offsite" in that the files are on the provider's storage network rather than on a company's system. For a monthly fee, you can store and access files via the Internet, 24/7, from any computer connected to the Net. (Some storage providers will also run automatic backup services, which can eliminate the need for in-house backups.) The downfall is that you are sending important documents over the Internet and putting them under the control of a third party; for many companies, that raises too many security issues.
NetLingo Classification: Online Business