Data room software for managing workplaces in a safer and more efficient way

Digital transformation is changing work and the nature of the working environment. Work is becoming increasingly optimized, interconnected, and network-oriented. In this article, we will analyze in what way can data room be used for creating a secure workspace.

How to organize a secure workspace with a virtual data room?

Managing and extracting knowledge from incredibly fast-growing volumes of information is one of the most challenging tasks facing modern organizations. At the same time, structured information management is a more developed field of activity and is considered a critical process for business operation. For this purpose, companies today prefer using digital data rooms for a well-organized working process.

Virtual data room (VDR) is a toolkit of useful technologies that include processes that allow you to efficiently receive, organize, store and provide the necessary information to your employees, stakeholders, and customers. With this software solution, companies can optimize the information lifecycle and automate business transactions.

Following, VDRs ensures a centralized cloud-based platform where sensitive data can be stored and distributed securely and in accordance with regulatory requirements. Full-featured data management systems include features such as content layout (providing the necessary structure for information), document logging and other workflow controls, and security mechanisms.

In the software market for organizing electronic document management, many solutions have proven their effectiveness. Among them are:

  • iDeals
  • Intralinks
  • SecureDocs
  • Firmex

VDR enables the expansion of the possibilities of office work and the increase in its efficiency, which is achieved with the introduction of an electronic document management system. So, the software allows several employees to work with the same document at the same time.

What are the VDR benefits?

Numerous advantages of electronic data rooms have made them popular and provided them with a wide distribution in various business areas. So, let`s analyze the most important software benefits to understand why they are so required.

There are the other data room software capabilities that can simplify business collaboration:

  • Each document, unlike a file, contains a “card” – metadata describing its content, belonging to certain categories, a history of its “life cycle” statuses, labels, and other information that greatly increases the efficiency of working with it in an organization;
  • Versioning of documents is supported, for example, within one document, all editions of a certain agreement with a certain partner are available to you in the form of files that were in effect in different periods;
  • You can set up business processes for working with documents, for example, contract work processes from the moment a draft contract is created to the moment it is signed by all parties, saving the scanned image of the signed document in the archive, and then executing and closing this contract;
  • All information is securely protected through support for most common authentication and authorization mechanisms, centralized data backup and recovery tools;
  • All the necessary information is collected in one place – on the internal working workplace;
  • The information on the portal is automatically updated from external systems, as well as the data entered on the portal automatically enters the corresponding external systems;
  • Data room is available 24×7 from anywhere on the Internet, including on smartphones and tablets, incl. for your partners (according to the granted access).

The experience of many companies suggests that the result of the introduction of an electronic data room archive is an increase in the speed of making managerial decisions, ensuring accurate control of the business process, and, as a result, an increase in the overall labor discipline of the staff.