For most enterprises, an expedient solution to the problem of organizing secure work with large volumes of confidential documents is the creation of an electronic data repository. In this article, we will analyze virtual data room as a good alternative, and consider the best software options in 2022.
What is a virtual data room?
Each enterprise has to solve the problems of ordering documents during business operations: they are stored into volumes and folders; the filing systems are introduced. But even if there is an organized system for storing documents, neither their safety nor the more rapid search and prompt access to the required document is guaranteed.
Thus, virtual data rooms become the necessary conditions for effective information support for the work of an enterprise in the 21st century. Data room is a cloud-based system for automating business processes and optimizing workflow for companies of all types and sizes. The system effectively solves problems both within a small structure, such as an office, department, department, or local organization as a whole, and within a geographically distributed organization with a complex scheme of information flows.
The functionality of the system allows you to solve all the typical tasks of office work:
- automate the registration of documents and tasks;
- ensure effective interaction of employees in the framework of work on documents;
- to carry out an instant search for information;
- control the execution of work initiated by documents and tasks;
- monitor the status of ongoing processes and analyze the workload of personnel by generating various logs and reports;
- organize long-term storage of documents of the organization;
- to provide differentiation of rights of access of employees to information.
How to choose a data room vendor?
Many of the data rooms presented on the IT market allow you to work with electronic documents and close most of the tasks of automating the deal workflow. Many systems have similar functionality and interface, so choosing from a variety of services is very difficult. The main selection criteria should be based on the following points:
- simplicity and convenience of the user interface, which allows employees of the organization to quickly master the system;
- technologies used;
- platform flexibility;
- mobility;
- development opportunities.
Also, modern data rooms already go beyond the classical workflow (organizational and administrative workflow, office, contracts). Many allow you to solve other interesting tasks: managing tender documents, technical documentation, projects, service desks, etc. Using the built-in tools in the system, you can customize your business processes that are specific to the company.
The top of data rooms in 2022
Today, the market for electronic data rooms is growing at an extremely fast pace. This is largely because both government agencies and commercial companies want to get a real return on years of investment in their information infrastructure. The use of the data room deal management system can significantly increase the efficiency of important management procedures at minimal financial and time costs. Therefore, more and more customers are moving to the widespread industrial implementation of data room solutions.
There are many data room vendors with different sets of characteristics, therefore, the choice depends directly on the needs of the organization and the personal preferences of the user. So, we have gathered the list of the most-preferred software solutions among customers in 2022. They are:
- Datasite
- iDeals
- Digify
- Firmex
- Securedocs
- Imprima
- Dealroom
- Ansarada.
So, a couple of years ago, corporate customers mainly solved the tasks of organizing document management in central offices. Today, the priority is to build systems that cover geographically distributed structures.