Today, most large and even small businesses are comfortable working with digital documents and using tools with storage and management capabilities. Online data room is one such tool. So, what are the best cheap software providers for small businesses?
Why is a virtual data room the best choice for a small business?
We operate in a digital world, which means that, as business owners, we must keep up with the technological changes that are affecting our industry. Thus, the document management system is one such development. When creating and maintaining business-critical documentation, virtual data room software is the most suitable variant.
Medium and small businesses rarely have the necessary funds and resources to purchase or implement automation systems. In addition, entrepreneurs today rarely take a long-term perspective, and most plans and goals are set a maximum of one year in advance. Under such conditions, it is impossible to evaluate and calculate the real benefit from optimization since it is rather difficult to estimate the same payback for implementing a solution. In addition, in small companies, the manager often combines several functions, so there is no time to delve into the principles of implementing automation and staff training solutions. Thus, you can set up a data room software that offers several plans and choose the most suitable for your company.
Electronic data rooms have several advantages, including the possibility of a single registration of an electronic document, the parallel execution of the necessary operations with tracking of the person responsible for their execution, and the availability of an effectively organized document search in a developed reporting system. In addition, it is a cloud-based platform that enables a well-structured data repository and productive, secure collaborative tools.
The best data room options for small businesses
The data room should support the entire life cycle of documents, including the preparation, approval, and endorsement of their projects, the publication of electronic documents, and the organization of archival storage of documents with access to electronic archives. Today, any office work system and archiving presuppose the existence of both electronic and paper documents. At the same time, even the same document at different periods of its life cycle can exist in electronic and paper forms. Therefore, the data room should provide electronic and paper document management.
The IT market offers many alternatives to organizing secure collaboration in small companies. They are:
- ShareFile
- Intralinks
- SecureDocs
- DocSend
- ShareVault
- Ansarada
- Clinked
- Onehub
- Firmex.
At the same time, automation is often the first experience for small companies, while internal processes are not formalized and fixated on specific people who personally control everything that happens in the office. Each user has a particular role in the project implementation process that requires detailed data. In the digital data room, you define roles and assign your access rights for each task area. It ensures the reliability of the process and simplifies users’ work: everyone sees only those files that are relevant to his work. Assigned individual tasks can be performed in a predefined sequence.