Datasite data room is a digital solution that allows companies to quickly and efficiently solve the problems of managing business data and content-oriented business processes in a modern organization. This article will analyze the benefits of using this software provider.
What is a Datasite virtual data room?
Data rooms are becoming increasingly important to businesses as the amount of information generated by today’s businesses is growing exponentially. All information about the company’s activities is now collected in one place, and searching for the desired document takes a few minutes. The introduction of the Datasite software made it possible to automate several business processes, such as the distribution of information by type of document, the storage of documentation in electronic form, the differentiation of access rights, quick and convenient search, and a high level of confidentiality.
The system’s functionality is based on the computing power of the centralized information environment. The main entity in the Datasite electronic storage in the system is a document that carries attribute information. Files are attached to the document, which can be organized according to the hierarchical folder-file principle. Electronic storage allows you to store and identify the contents of files by digital identification codes, i.e., by content.
The Datasite advantages include orderly and secure document storage for an unlimited time, successful interaction with other users in real time, and ensuring the document’s safety on paper.
The peculiarities of the Datasite functionality
Datasite data room solution can optimize the organization of data and deal management in the company with the help of the following key functions:
- Virtual collaboration and workflows
Good collaboration has two core functions: communication and information. The Datasite data room serves as the central data repository. Within seconds you can make documents available to everyone involved. A workflow stored in the software ensures that copies are forwarded and resubmitted. Processing times are shortened, and internal and external processes are standardized.
The software can also be used to work together on a document. Creating a revision leaves the original document unchanged. A new version of the document is created for each change, and the steps are documented. At the same time, you can work with the most recent version of the document. In addition to this function, user-specific views and rights can be assigned to the documents. In this way, productivity is improved, and business areas are automated.
- Data security and versioning at the push of a button
The storage of business-critical resources is relevant to business continuity and customer relationships. The Datasite data room guarantees audit-proof archiving and legally compliant handling of documents. The automatic versioning ensures that the history of the documents can be traced and that old versions can be accessed afterward. If you accidentally delete or overwrite a file, the Datasite can restore the documents or access previous versions with just a few clicks. If some documents, such as important contracts, are only intended for one company department, you can set employee access rights. These features help ensure that records are managed with the highest security standards.
- Automation of processes
Business processes are still closely intertwined with paper documents. An example of this is invoice processing. The receipt of a paper invoice is automated to the highest degree by manual scanning, while the Datasite takes care of the filing. The software is particularly helpful when it is integrated into other company processes. Efficient workflows and the value chain of projects are increased in this way. You can save valuable time and money by automating and digitizing business processes.