The trend of business mobilization and globalization requires a new look at automation processes. The presence of mobile tools, providing the possibility of simple and convenient remote work via data room software, expands the boundaries of business deal management. This article will review the best data room vendors in the UK.
What is a virtual data room, and where to use it?
The success of a modern enterprise largely depends on the efficiency of solving certain tasks and the transparency of business processes. It applies to any activity of the company, including deal management. So, how to make the business deal management and collaboration with contractors more efficient?
A virtual data room is an automated multi-user system implemented at the enterprise, which allows organizing joint work of employees with various electronic documents related to certain business operations. Introducing the data room management software will create a single data repository, systematize, speed up and streamline the company’s office work.
The main tasks of data room systems are:
- registration of incoming information (filling in the necessary attributes of the document);
- organization of document storage (ensuring the storage of an arbitrary number of documents on various media);
- automation of operations with documents (viewing, creating, copying, destroying);
- organization of indexing and a quick search of documents (support for indexes of various types);
- ensuring the security of documents (controlling access to information);
- organization of collective work with information (reduction of the waiting time for the requested data);
- organization of distributed document storage.
Considering that the data room software is aimed at preparing work with documents and other information materials, the system’s tasks should include coordinating participants in communication links in the common information space of an organization and institution when solving business problems.
The best data room solutions in the UK
We suggest that you familiarize yourself with several options for information systems that perfectly cope with the task of automating the data room of any enterprise. The most widespread data room providers in the UK are:
- SecureDocs
- Digify
- Citrix
- Ansarada
- DealRoom
- Intralinks
- Merill
- iDeals
- SmartRoom
- Clinked
- Onehub
- Firmex.
How to choose a reliable data room vendor in the UK?
Several recommendations can be helpful when choosing a data room solution:
- Get help from experts. If the company’s staff does not have a responsible employee who can unambiguously say which program will be the best in your particular case, consult a specialist about this.
- Know all the offers, do not refuse one at once. And don’t limit yourself to functionality. Pay attention to scalability; then, the software tools can be expanded in the future.
- Pay attention to the quality of hardware solutions: the nature of the software support, the distribution of flows, the ease of integration into the already formed IT structure of the company, etc.
- See how an automated workflow system works in practice (if possible). The demo will be the most accurate first impression of the program. Moreover, most of the data room providers have the free trial version.
It also should be noted that you can first work with the basic software and then, if it suits you and proves its effectiveness, increase its capabilities to the maximum (at the moment, with good scalability, it will be possible to upgrade more than once in the future).