Data Room cloud solutions can provide both the private user and the company with the necessary set of tools and applications to optimize performance and reduce costs. Here is the list of the best free software options.
How does the Virtual Data Room work?
The topic of cloud computing has been very popular for some time as more and more companies are shifting their computing infrastructure and software to cloud computing solutions. Cloud computing is very profitable for small companies that have small resources. Using a cloud-based infrastructure is much cheaper than managing and maintaining your physical servers. The vendor’s prepaid license model provides lower costs than traditional software or at least divides that cost into several monthly payments. Such savings are important for small and medium-sized businesses. Thus, cloud-based Data Rooms are in great demand today.
A Virtual data room (VDR) enables several parties to use a few secure servers and encrypted web connections to work together with important details of a business.
Data Rooms are designed to provide the management of the company with information for analysis and making strategic decisions regarding the management of the company, as well as to create an infrastructure for exchanging data with both suppliers and consumers.
All data in the warehouse is protected using proven encryption technologies. The portal’s work processes follow internationally recognized industry standards for handling confidential information. The data centers employ exclusively selected staff and use physical security measures such as biometric access controls and surveillance cameras. And since access to the portal is controlled centrally by the company secretariat or specially authorized employees of the respective customer, access can be prevented if a device is lost or stolen.
What are the best alternatives to free Data Rooms?
There is a great variety of Data Room platforms in the marketplace according to your business needs. Which data room you choose ultimately depends on your requirements
The list of the best free Data Rooms comprises the following options:
- Intralinks
- DealRoom
- FirmRoom
- Box
- Merill
- SecureDocs
- iDeals
- Citrix
- Digify
- Safelink
- IdGard
- Ansarada
- ShareVault
- OneHub
What are the benefits?
The central feature of Data Rooms systems is a common database that supports many functions used by different business units. In practice, this means that employees from different departments – for example, accounting and sales – can rely on the same information for their specific needs.
The software has the following advantages:
- Accelerates work: an electronic document can be received on the day of its formation. It ensures the organization of work with remote users and user groups;
- Saves resources: you no longer need to create, store and process paper versions of documents. The software ensures the process of simultaneous work in the system of an unlimited number of users;
- Provides legal protection: documents are processed through the electronic document management system following the requirements of the law. Supervisory authorities accept electronic documents as originals;
- Reducing costs: the use of electronic documents allows you to save on printing, shipping, and storage. No need to go to the office of the counterparty, organize an archive and additionally hire employees;
- Increased control: the entire process of electronic document management can be easily traced in the personal account of the service. Analyze statuses, deadlines, errors. If you need to find a document, this can be done in a few clicks;
- The service builds up the basic capabilities of the electronic document management system using modularity and the presence of built-in tools.