The need for the introduction of a modern developed document management system at enterprises is obvious. Data Room is global and integrative because it covers the automation of the functions of almost all spheres at the enterprise.
Set up your document management with the Virtual Data Room
The electronic document management architecture is based on business processes (workflows), during which documents are created and moved. It is one of the most comprehensive, pervasive, and responsible subsystems in enterprise management, which forms, organizes, and maintains the entire process of enterprise operation. The degree of automation of the subsystem depends on the degree of order in accounting and management in general.
Historically, document management systems have been vertical applications designed for use by small groups of professionals working close to each other with overly structured documents.
New generation document management software serves as a tool for business because one of the main requirements for modern business is the ability to operate in a rapidly changing market. This ability can be provided only in enterprises with a process-oriented management structure and controlled (automated) business processes. Only Virtual Data Room solutions can support rapidly changing business processes.
This approach allows the use of Data Room as a methodology for enterprise automation. This approach to automation is both constructive and universal because it provides automation of document management and all business processes of the enterprise within a single concept and a single software tool. The document acts as a basic unit of information resources of the enterprise, managed within the framework of business processes focused on documents. By adopting the document as the basic unit of information, managers and users throughout the enterprise will be able to clearly understand the function of information management and become active participants in the information management process.
What are the advantages of Data Room?
At modern enterprises with a distributed structure information materials of high value for management are created daily. Therefore, today’s companies require a distributed architecture of the Digital Data Room system that meets the following requirements:
- Scalability, reliability, and manageability for economic corporate deployment. That means you can get started with the implementation of the system step by step, and then increase to the level of the enterprise and beyond as a corporate technology of document management.
- Automatic support for distributed management of various information materials during their life cycle – from author’s development, creation, reviewing, coordination, approval in an interactive mode to distribution and archiving.
- The flexibility of access control to the whole range of documents: text, formalized documents, document images, spreadsheets, audio, video data, Web documents, e-mail, discussion databases.
- Open, scalable architecture that allows for fast expand the platform of the document management system in response to the emergence of new business goals, as well as integrate the document management system with business applications ERP system, CRM-system, knowledge management system.
All stages of document processing should be automated in the Data Room: coordination, endorsement, approval, approval with remarks, the introduction of draft documents from electronic and paper carriers, their transfer by electronic communication channels, and placement on Web-pages.
So, the entire technological cycle of processing paper documents in the Online Data Room is implemented without human intervention. As a result, the speed of document processing increases, the system’s resistance to peak loads increases, operational risks are reduced by automatically checking the values of document details according to the relevant rules, operating costs are reduced, bank staff is fired for direct management and customer service.