It does not matter how many electronic documents you receive or send when working with business partners. In any case, they will have to be stored somewhere securely. But how do you choose the right solution? And how much does it costs?
Ideals data room: how does it work?
Until the beginning of the 21st century, entrepreneurs could not dream of eliminating the need to collect, store, and share many documents for doing business. However, electronic document management is gaining more and more popularity. Electronic documents are easier and faster to generate, send and process. They speed up work processes and save resources. Therefore, business and regulatory authorities are actively switching to electronic document management.
Electronic documents are also easier to store because there is no need to maintain the premises and spend staff time sorting and searching. However, the storage of electronic documents also requires compliance with the rules and technical feasibility. The information must be properly formatted, and protected from system failures and external interference. For this purpose, modern companies are transferring their business operation into the virtual data room dataroomreviews.org. And iDeals data room is a leader in this software market.
It is a well-organized secure digital platform for storing business-critical data and efficient collaboration. The archive of documents is kept privately on a special server. With this method of storing electronic documents, the administrator can restrict access for users. The downside is the need to connect to the Internet. Without it, there will be no access to the archive.
iDeals offers a solution for your company’s electronic document management, which works based on SharePoint and solves the following tasks:
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improvement of business processes related to documents;
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introduction of template procedures and forms in document processing;
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simplification of data search and creation of an environment for processing company files;
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save time for creating and processing documents;
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improving the efficiency of employees.
How much does it cost?
The data room system should be chosen primarily based on the company’s needs. And secondly, the question of how much the software and its implementation cost should be considered. When choosing the data room, entrepreneurs often erroneously conclude that a high software price guarantees a quality program, and inexpensive systems will be worse. The price of the data room depends on many factors:
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functionality;
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promotion of the program;
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the kind of the project;
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the number of pages;
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the number of users.
Criteria for assessing the potential of iDeals data room
Every high-value product should have evaluation criteria by which it can be determined that it meets the standards. And iDeals is no exception. If we consider the data room without reference to the implementers and the specifics of the business, then three main criteria can be conditionally identified:
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Possibility of improvement. If the software does not imply the possibility of updating and refining for specific business processes, then the value of such a system in terms of functionality is no more expensive than an excel tab.
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Maximum system load. Be sure to indicate to the analyst of the integrator the amount of information that you plan to pass through the system: the number of transactions, the size of the client base, etc.
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Implementation timeline. There are more than a dozen factors behind this figure: the duration depends on the number of employees and departments that will work in the system, the complexity of business processes, and the size of the customer’s infrastructure.