Data Room Software Market Growth Is Expected To Be Driven By Remote Employees

Nowadays, remote work is a tendency that does not lose its relevance and potentially affects the transformation of the business environment in the world. This article will consider how to organize remote work with the help of data room software and analyze the software market growth.

Virtual data room – a new trend in the remote workflow

The global coronavirus pandemic is adjusting the work of many companies, so employers have urgently started relocating their employees into the online format. This format is one of the trends that has affected almost all business areas. In June 2020, 42% of American employees were completely transferred to remote work. According to a survey by the European Business Association, during this period, 60% of small businesses considered the possibility of full or partial transition to remote mode. 

To work effectively outside the office, the manager must provide employees with tools for remote work. For example, the development of the virtual data room today allows companies to provide limited access to their employees’ corporate data – just as much as is necessary to perform their work. As a result, it reduces the risk of leaking confidential information through the company’s employees, which is especially important for the financial sector, IT, and anyone involved in innovation or preparing for important marketing decisions.

The undoubted advantage of a virtual workspace is the absence of any attachment to equipment or a stationary desktop. The client of such a service only needs to provide himself with a computer, smartphone, or tablet with which he will connect to the workstation.

In addition, the software stores data in case of any failure or disconnection from the system, the risk of breakage, loss, or removal of equipment is no longer a threat because, in this case, such equipment is a computer, tablet, or smartphone, which only serves as tool access to information, not its storage. A lost or deleted computer or gadget can be quickly replaced and resumed with your data. The data itself can be stored in your own IT infrastructure or the cloud of a reputable provider.

You can organize your remote team with the help of the best data room vendors They are:

  • iDeals

  • Intralinks

  • Merill

  • Firmex

  • Datasite

  • Box

  • Securedocs

  • Onehub

  • Digify

  • Brainloop.

What data room benefits can remote employees get?

The use of the data room software significantly increases the performance discipline. It reduces project implementation time and the number of disruptions, ensuring management effectiveness and remote collaboration control.  In addition, the automated system provides the reduction of labor-intensive operations and makes the workflow more efficient thanks to the following advantages:

  • You can create standard organizational and administrative documents using templates. It greatly simplifies the process of creating a document.

  • The data room allows you to assign tasks to employees for any documents and files. Thus, you can easily assign tasks to specific documents and control their execution.

  • The software offers a simple, transparent, and effective mechanism for monitoring the performance of employees’ tasks and allows you to monitor the status of certain tasks or business processes in real-time.

  • All data about documents form a single register. The system has created journals for each type of document. To reduce the time to search for the required document or obtain selective information in the journal, filtering was introduced according to the selected criterion: counterparty, date, status, etc.


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