Virtual data room is designed to organize and automate the processes of interaction between employees and contractors. This article is a comparative review of two popular data room services – iDeals vs Box Secure file.
Why do businesses choose a digital data room?
Today, the efficiency of an enterprise depends on the speed of processing documents, the distribution of information between departments of the organizational structure and counterparties, and the reliability of the entire information component. There is a need to improve the document management system with the help of its automation. In this case, a virtual data room is a perfect alternative.
The software allows companies to store and create documents in electronic form, maintain databases of contracts and clients, manage the archive, schedule meetings, and gatherings.
The realization of data room software in corporate management structure will allow:
- increase the efficiency and quality of work with data, streamline the documents available in the organization, control their execution;
- automate the control over the movement of documents between departments of the company from the moment they are received or created until the completion of execution, sending or registration to the case, organize timely informing employees and managers about new documentation, eliminate the possibility of losing documents;
- reduce the time required for the passage of documents and activities on them.
- create centralized storage of electronic documentation, as well as provide the ability to logically link files related to one issue, and quickly search for the necessary information using the required details.
- unify media flows in electronic form between departments;
- ensure the possibility of using a single system of indexing (numbering) of documents for all organizations.
iDeals or Box Secure file: how to choose?
An increasing number of companies are joining the benefits of the digital data room. The greatest demand in the market are software solutions such as iDeals or Box Secure file. So, what is the difference?
- iDeals
It is a universal and adaptable data room solution that is used in most business spheres. A distinctive feature of the system is a rather “modest” basic functionality with the possibility of expansion depending on the needs of the company. The software has almost all the basic modules needed to operate a company of any scale.
The system includes a set of applications for collaboration, a module for finding information in documents, information systems, workflow management functionality, a module for creating forms of information input, as well as functionality for business analysis.
The software has an additional security measure – approval of documents for a common space where newly digitized documents fall. You can set it so that before a document becomes public, it must be approved by an administrator, to whom this document automatically comes (and, if you wish, approval can be subject to an electronic signature).
- Box
The Box is a secure data room, that offers a toolkit with a number of useful features for efficient business collaboration. Documents are stored centrally in a single database. The system has powerful document search tools (including full-text search).
Box data room offers a full suite of advanced security features including file encryption, custom data retention rules, and enterprise mobility management. Administrators can manage access and sharing policies within and outside their organizations. The software also offers customers the ability to use encryption keys that they can manage. It has integrated its storage with the Amazon CloudHSM service, which just provides a cloud key storage service.