Small and large enterprises are gradually switching to the electronic collaborative environment. Here is more about Virtual Data Room as a secure workspace.

What is Virtual Data Room?

Over the past three years, cloud technologies have become increasingly popular among modern businesses. Cloud computing involves remote processing and storage of data.

The Saas market is very large, the most striking example being e-mail. Today, it is difficult to imagine a modern business that does not enjoy the benefits of electronic correspondence or electronic communication. However, in reality, cloud technologies are evolving very rapidly, the market is becoming narrower, application software developers in the pursuit of earnings are getting deeper and deeper into the processes, creating more and more new programs designed to optimize costs, simplify and automate current business processes. Modern business must be fast, to make quick and correct management decisions. One of such innovations is online Data Room software.

platform is the basis for electronic document management – the creation of a document and business process management system and includes only the basic elements intended for storing information, accessing it, as well as providing the user with a familiar and convenient interface.

Besides, organizational methods of information protection in the Data Room include measures and actions that officials must take in the process of creating and operating the system to ensure a given level of information security.

Data Room advantages

Data Room document management is a unified mechanism for the movement of documents created using computer tools, as a rule, signed with an electronic digital signature, as well as a way of processing these documents using various electronic media. It can be applied in any organization: both in a small enterprise and a huge corporation or holding company with an extensive network of branches. It has some advantages:

  • transparency of business processes. Control over the execution, receipt, creation, and, in general, the existence of documents in the electronic system is faster and easier, which allows management and line managers to monitor business processes.
  • increasing the executive function. According to statistics, a fairly large percentage of orders are not carried out by employees. In the electronic document management system, the manager can control all work processes, the speed and quality of execution, and, most importantly, the result of the work.
  • reducing time. Data Room provides faster creation, search, processing, and distribution of documents, as well as the automatic compilation of summaries, reports, and registers, which allows you to quickly and efficiently perform work and, ultimately, optimize business processes.
  • increasing confidentiality. Each participant receives exactly the degree of access to company documents that correspond to his authority: reading, editing a document, or full rights. All actions are logged in the computer system, so at any time you can see who worked with the data, made changes to them.
  • cost savings. While the upfront Data Room pricing might seem high, it is important to weigh out how that cost can be leveraged over time. The peace of mind that knowing your documents are secure does not have a dollar sign attached to it. However, potential business trips to and from a client or investor to present documents and get signatures can add up fast.

The main advantages of Data Rooms are ease of implementation, adaptability to special requirements, and reliable operation. The services are developed taking into account the peculiarities and specifics of domestic office work, the development of technical means, and the level of preparedness of potential users.