Most companies today prefer to archive their documents electronically rather than physically. However, everyone uses a different understanding of this concept. Some simply digitize their documents and keep them on disk, but they are of little use, and most of the work your employees still have to do manually. Others, on the other hand, use document management software that makes much of the work easier and more streamlined. In this article, we’ll look at how to store documents using a virtual data room.
What are virtual data rooms?
Virtual data rooms are cloud-based software that was created to securely store and share documents within a space. VDRs are deployed on a SaaS basis, and therefore provide easy and flexible access from any location and device. With advanced security and document management features, these programs are the ideal solution for electronic document archiving, but beyond that, they also help speed up various business operations and projects.
Previously, physical data warehouses performed all of these functions. Companies used to use separate buildings to store archives, with potential partners coming to that location for due diligence during a transaction. All documents were searched manually, and there was a great risk of data leakage. Now, thanks to modern technology, all processes can be done remotely, and artificial intelligence will make each participant’s job several times easier.
How to create an electronic archive in a virtual data room?
The document management features in virtual data rooms are pleasing because providers of quality products such as https://virtual-dataroom.it/ try to optimize as many processes as possible. So, to organize an electronic archive in the VDR you need to:
- Load the entire volume of existing documents inside the program – most VDRs offer unlimited storage and document weight. Also, they will either automatically format your documents into the format you want, or support any file type. In either case, you don’t have to spend extra time formatting your documents. Also, data rooms can offer document digitization features with a camera, which makes the process much easier. With drag-and-drop or bulk document uploads, all of your data can be moved with just one click
- Organize your documents within the space – Virtual Data Rooms lets you create an unlimited number of folders and subfolders so you can properly and conveniently categorize your data. VDRs automatically index all your documents so you don’t have to do it manually, and it also saves you valuable time. With document tagging, you, your employees, and guest users will find it easier to navigate the space. You can find any file in seconds with the smart search feature. It allows you to search for documents by their keywords
- Set document permissions – Once documents have been successfully uploaded and organized, it’s time to take care of their security. Virtual Data Rooms allow you to set detailed permissions for access and interaction with documents, both for company employees and invited users. This will greatly reduce the risk of human error, insider threat, and document leaks. You can deny document visibility (fully or partially), copying, forwarding, printing, uploading, or editing. Put watermarks on the most sensitive documents that provide additional visibility and assurance that your property rights are protected
You can also set document expiration dates, restrict access based on location, and use monitoring features to keep your data safe and secure.