Any company sooner or later thinks about optimizing and increasing the efficiency of business processes, which can be coordinated with the help of virtual data room management systems. In this article, we will consider the top 5 best data room vendors.
Basic data room features
Virtual data rooms enable solutions for automating work with documents of enterprises of various sizes and fields of activity, including geographically distributed ones. Software systems of this class ensure the organization of a legally significant document flow of the company, maintaining an archive of documents, automating the work of the office (registration of incoming and outgoing correspondence, scanning documents, and bringing them to the executors in electronic form), control of performance discipline, harmonization of contracts and payments, coordination and control of the execution of organizational – administrative documents, processing and storage of primary accounting documentation, as well as automation of processes specialized for various business areas. In addition, a feature of most modern data rooms is support for mobile devices and the ability to integrate with existing enterprise information platforms.
Data room benefits
The software provides many advantages and possibilities for organizing an efficient business workflow. They are as follows:
- Speed of access to information. The highly organized automated structure of the archive makes it possible to reduce the time of searching for information to a minute.
- Storage of electronic files is not limited in time. The integrity of the archive is fully preserved, which cannot be said about paper documents. The high degree of security of the electronic archive makes it easier to protect against unauthorized access.
- The possibility of simultaneous access to the archive and a specific document by several employees at once.
- Unified database of contracts. The system guarantees the legal significance and information protection of the signed document: flexible access settings, the use of an electronic digital signature (EDS).
- A single procedure for working with contracts in compliance with corporate standards.
The top 5 data room solutions
There are a huge number of data room document management systems in the global IT market, and to make it easier for companies to make a choice, we have compiled a selection of the best ones:
- Intralinks is a flexible automation solution that provides electronic document management, order execution control, project management, client interaction, collaboration, video conferencing, information displays on the calendar, and statistics panels.
- Firmex is a software platform designed to create solutions in the field of automation of administrative workflow and office work, as well as solving other tasks in managing unstructured content and organizing teamwork. The system takes into account the features of the SharePoint platform and provides unique opportunities for managing access rights.
- Securedocs is a data room system that has long gone beyond the boundaries of the office. The modular architecture makes it easy to add new functionality without affecting the stable kernel. Open interfaces allow developers to create additional extensions.
- iDeals is a complex of systems that automate office work, workflow, and business processes. The ability to differentiate the right of access to information based on the employee's job duties ensures the security of workflow from unauthorized access, thereby eliminating the possibility of information leakage.
- Digify is a ready-made centralized expandable solution for automating the workflow and archive of a geographically distributed organization. It ensures the ability to support a single standard for working with electronic documents in the system ensures the unification, formalization, and strict regulation of office technologies, workflow, and business processes.