Best data rooms for File Sharing Project Management and Invoicing

Electronic document management systems like Digital Data Room can help create a new organizational culture in corporations by making it easier and more productive for employees to work with documents.

Digital Data Room as an effective tool for managing corporate information

When organizing documents, corporate executives often make organizational decisions about implementing efficient file placement schemes on the server so that documents can be found and used efficiently. Really, today companies are required to provide their paper documents in digital form due to digitization of the most business processes.

Information technology today contributes to the transformation of management itself. Their main content is not a set of technical innovations, but a set of global management experience and solutions embodied in the relevant tools using modern methods of processing and storing information. One of such useful tools is Virtual Data Room. 

Virtual Data Room (VDR) is a standard solution designed for automation of document management and record-keeping in both state and non-state enterprises of any size, form of ownership, and type of activity. The system allows automating traditional office work, organizing the electronic archive of documents, setting up processes of work with incoming/outgoing correspondence, supporting internal documentation at the enterprise, work with citizens’ appeals, and perform other tasks. 

Data Room includes the creation of documents, their processing, transmission, storage, the output of information circulating in the corporation, based on the use of computer networks.VDRs like iDeals provide the process of creating, managing, accessing, and distributing a large number of documents on computer networks, as well as control over the flow of documents in the corporation. Often these documents are stored in special repositories or in a file structure hierarchy. 

Safe digital circulation of documents in VDR

The Virtual Room, combined with DRM technology, eliminates all risks of enterprise information leakage, and provides the following capabilities:

  • Ability to control documents after they are sent – you can see who, when and from what devices downloaded the file, what changes were made, you can also cancel or restrict access to the document remotely after sending;
  • Data exchange is based on the E2E encryption principle, which protects files from MITM attacks;
  • Ability to work on Windows, macOS, and Linux platforms, as well as Android and iOS mobile devices;
  • Ease of implementation and use.

The VDR has implemented reliable means of delimitation of powers and control over access to documents. For the most part, they define the following types of access:

  • Full control over the document;
  • The right to edit but not destroy the document;
  • The right to create new versions of the document, but not to edit it;
  • The right to annotate the document, but not to edit it and not to create new versions;
  • Complete absence of access rights to the document (during work with VDR each action of the user is recorded, and, therefore, all history of its work with documents can be easily controlled).

The best options for VDRS

There are many companies worldwide that provide Data Room service, the largest are concentrated in the States as Intralinks, AND Merill Datasite, Firmex or V-Rooms in Australia, Imprima virtual data room italia, Drooms from Germany, etc. 

In addition to due diligence, virtual data rooms are attracting great interest from companies today and are also used outside of mergers, company takeovers, and real estate transactions for secure, cross-location, and cross-company, data exchange and online collaboration.