Top VDR providers that offers advanced features
Data Room set of features allows you to implement a full cycle of business processes, starting with the creation of a virtual platform for automation of the management system.
Virtual Data Room – a new trend in a business environment
The modern enterprise has a developed network infrastructure in which the corporate information systems provide support of all business processes of the organization`s work. The main source of business information in such network infrastructures is repositories and databases, which store internal operational and financial information, personal data of employees, information about customers and clients, intellectual property, market research and analysis of competitors, payment information. Thus, special software for sensitive data protection and automatization business operations plays a vital role here.
The efficient tool for organizing business transactions in the most secure manner is Virtual Data Room (VDR). It is a corporate information system designed to automate accounting and management processes in the company.
Data Room is a collaboration-oriented system. It is a new trend in the field of workflow systems associated with understanding the volatility of market conditions in the modern world. Such systems, in contrast to the previous ones, do not include the concept of hierarchy in the organization, do not care about any formalization of the workflow. Their task is to ensure that people in the organization work together, even if they are geographically separated, and to preserve the results of this work. Usually implemented in the concept of “portals”. They provide services for storing and publishing documents on the intranet, searching for information, discussing, means of making appointments. Such systems find customers among rapidly growing commercial companies, workgroups in large firms, and government agencies.
The top 10 Data Rooms in the marketplace
The Data Room services market is a flexible service offering for private users and the business sector. The point is to provide better conditions for the storage, systematization, and dissemination of information through a remote data warehouse with personal computing capabilities.
Among the highly-evaluated there are the following options:
- iDeals
- Intralinks
- SecureDocs
- Firmex
- Merill
- DealRoom
- Datasite
- Digify
- Ansarada
- Firmex
What are the Data Room advanced features?
Benefits of switching to the Data Room management system comprising:
- Saving working time. Firstly, only one person can work with one copy of a paper medium, which means that the work of another employee who needs this document stops working. There is no such problem with electronic documents. Secondly, if earlier the approval required the “movement” of the document through the instances, now it will be proceeding at a much greater speed. Moreover, the coordination of documents between the two cities will require only a few minutes instead of days and weeks.
- Reducing costs. A significant advantage of the best Data Room is the cost savings on paper and document printing. Even in small organizations, the system pays for itself in less than 2 years – and this is taking into account the rather high cost of software, configuration, and support of the system.
- Data encryption allows you to completely suppress attempts of unauthorized access to information. In addition, the system allows you to avoid mistakes and the “human factor”.
- Orderliness and transparent structure. With the Data Room solution, employees will understand at what stage of approval the document is, with which ones they still have to work, and which papers have already been sent to the necessary departments. No paperwork or confusion will now slow down the company.