Automation of business processes is an important condition for the success of an organization. In this article, we will consider the functionality of Virtual Data Room vendors and the secret of their operational resilience.
The functionality of Virtual Data Room
Business process automation is the transfer of typical business tasks and standard operations under the control of a software and hardware complex. As a result, resources are freed up, which makes it possible to increase labor productivity and the effectiveness of strategic management. To optimize the workflow of business transactions, most companies use Virtual data Roo systems for modeling and optimizing the execution of business processes.
The introduction of the Data Room software into corporate information system performs the following tasks:
- acceleration of information processing, simplification of solving repetitive tasks;
- automation of manual labor;
- increasing business transparency;
- increasing the consistency of employees’ work, improving the quality of work;
- controlling large amounts of information;
- reducing the number of errors, increasing control accuracy, the ability to perform multiple tasks in parallel;
- prompt decision-making in typical situations.
Choosing data room software as a complex integrated deal-management system allows increasing the transparency of the business transactions, promptly influencing the processes occurring in the organization, better understanding the key factors of business success for management, and ensuring more effective delegation of authority. Thus, there is a development of the management system, its alignment with a strategic orientation.
The best Data Room options
Following dataroom-providers.org among the commonly used Data Room providers in the global market, there are:
- iDeals
- Firmex
- Intralinks
- Box
- Citrix
- Ansarada
- VaultRoom
- Drooms
- Netflies
- Securedocs
The Data Room vendors provide the functions of input and conversion of documents, management of joint work, long-term storage of documents, and ensuring their integrity, information delivery. The basic functionality is provided through a web server, for medium-sized businesses with a connection of 50 to 200 users, a cloud solution has been developed. The customer can determine the composition of the system.The client base is stored on the developer’s servers, he also provides all the necessary technical support and service 24/7. The license is provided by subscription, usually annually.
What makes Data Room vendors resilient?
In recent years, the emphasis has noticeably shifted. If earlier the customer got an idea of the company based on its product, now he builds his attitude towards the company as a whole – as a partner with whom he interacts through various channels – from a phone call to the Internet. At the same time, consumer requests have become much more differentiated, and the forms of interaction have become personalized.
There are some features that ensure Data Room vendors long-term operational resilience:
- Remote access
All users of the system work with a single data set, regardless of their location and geographical distance. Client-server architecture and special replication technologies provide this capability.
- Security
A high degree of information security in the system is provided by a multi-level access control system and unique data encryption tools. Including – when exchanging information with remote servers and users on distributed networks.
- Unified interface
Regardless of the structure of the Data Room system, the functional features of individual modules, and data format, users work with a single intuitive and friendly interface.
- Scalability
Data Room solutions have an open architecture and the ability to quickly adapt to the special requirements of specific enterprises. This ensures the minimum deployment time of the system and the minimum cost of its implementation.