Stick to local hard drives and paper.
Sooooooo lets see, stick to local hard drives and paper and nothing else and then what happens when a fire/earthquake rolls through town??? x.x
Or do what most good IT depts do and HARNESS the cloud: beefy local storage for real time transactions on the local side, real time remote journaling 2x remote sites for disaster recovery (banks do 3x or more) and electronic vaulting for all that crap that we don't need to access on a regular basis at some underground data warehousing facility in the middle of nevada.
iCloud aint "the" cloud. It's a wonky platform that has it's share of problems. REAL cloud vendors/app devs are making strides in this space every day. BMC, ADP, SAP, Oracle etc