Modern business cannot do without virtual data rooms, which allow companies to automate and speed up the process of exchanging documents between organizations. One of the critical aspects of effective work with a data room is setting up interaction with counterparties. Here is more about it.
Secure data sharing: why is a data room better?
You can exchange documents via the Internet using e-mail, instant messengers, or cloud services. But only documents transmitted through the data room and signed with an electronic signature are recognized as legally significant on a par with paper ones.
Data exchange platforms such as Dropbox come initially from the private sector but now often offer a professional corporate version. Even if the thought of confidential documents is more considered there, it is better to set up a virtual data room for dedicated user groups, as the software is still not tailored to the particular requirements in the technical environment. Confidential document security must occur at various levels: both during data transmission and when files are logged. However, the most significant disadvantage of typical data exchange platforms is that they are not embedded in the company’s existing collaborative landscape. There is still a break between the system landscapes. Therefore, a cloud-based data room like iDeals is considered more reliable and secure for operations with sensitive information. The data room vendor guarantees unlimited storage on its servers. Thus, transitioning to such software provides organizations and individual entrepreneurs with significant cost savings.
According to iDeals data room review, the data room management solutions will help all company employees to increase efficiency by streamlining and automating routine, repetitive tasks. They will allow you to digitize documents and run the necessary working algorithm to securely send these documents to a company employee, application, or business process to solve problems.
Data room functionality for secure data sharing
The data room ensures the following advantages allowing users to digitize, securely store, and share much more business information:
- long-term, structured, reliable storage of documentation in an electronic archive with a quick search and without the risk of losing files;
- confidentiality of information, which is ensured by the data encryption system and file access control;
- increasing productivity and the level of labor discipline due to the ability to set specific tasks for employees and monitor their implementation;
- instant access to documents and the ability to work with them remotely due to the availability of mobile applications and web versions of the program;
- the convenience of generation and visual demonstration of reports;
- almost complete elimination of errors by filling out forms automatically;
- automating the entire “life cycle” of documents (from the creation of a project to write-off to the case and transfer to archival storage) and already contains the necessary functionality for this;
- automation of standard processes of execution and approval of documents; the ability to program the movement routes of documents and business processes (workflow).
These are just some essential features a document management software offers privately. When you use such software, you can rest assured that your documents are well protected and that you can access them whenever you need them.