Compare data room providers: proper software functioning, technical support, and excellent protection

software features

At the present stage of the development of information technologies, documentation support in organizations is unthinkable without the introduction of virtual data rooms. This article will compare the best data room providers.

Virtual data room as a way to optimize business processes

The accumulation, processing, and use of knowledge are constantly accelerating. In this regard, there is a need to use automated tools that allow you to store, process, and distribute the accumulated data. It is required to involve more and more intensively modern computer equipment and software in this process, which will speed up information processing, increase efficiency and adequacy, and reduce errors. At the same time, for the effective use of such systems, it is necessary to use modern computer technology and innovative specialized software.

Based on the modern requirements for the quality of work of any enterprise, it should be noted that its effective functioning depends entirely on the automation of the central business processes and transactions and equipping the company with information tools, in particular, virtual data room management systems.

Data room is a new trend in document management systems, associated with the understanding of the volatility of market conditions in the modern world and the need to have “only the most necessary” for fast movement. Such systems do not include the concept of hierarchy in the organization and 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.

The best data room vendors in the marketplace to compare

There are many approaches to choosing a digital data room management system. As a rule, products are evaluated by market indicators of supplier companies or by the functionality of the systems themselves. Essential points to compare providers include:

  • The data room allows companies to manage relationships with customers and suppliers centrally. For example, just one click is enough to bring up all the necessary documents that contain requirements related to various types of relationships between the organization and external entities.
  • Product technical support. Professional support is critical at all stages of implementation and operation. There are several signs of quality technical support: online support service or phone; technical support forum; demonstration and training videos or schematic master classes; demo version.
  • Excellent protection. The central database allows you to make backup copies of documents, thereby reducing the risk of accidental or intentional loss of files. Besides, the software will enable managers to monitor the document’s status throughout all stages of its approval and approval. You can also instantly and quickly call up the requested file and a full report on who created it, who had access to it, and who edited it.

Thus, adequately organized workflow processes will help manage information and document flow at all levels and stages of their existence. That is why the choice of virtual data room should be approached with special responsibility, considering the peculiarities of internal and external processes that documents must go through.

There are many data room systems on the market, each with its advantages and disadvantages. However, according to the points considered above, the most preferred systems are iDeals, Intralinks, and Firmex.