The introduction of secure data sharing strategies like data rooms has simplified the work of the investment industry. All confidential documents can be signed with an electronic signature and immediately sent to the counterparty in a united secure workspace. Here is more about it.
New tendencies in data sharing for the investment industry
Today, security is more than ever a challenge. Trends such as mobility, bring-your-own-device work, and cloud computing mean an unprecedented increase in the number of people accessing sensitive business data and the places and ways it is accessed. The challenge for IT departments of investment companies is to protect this information from loss, theft, and increasingly sophisticated threats while adhering to privacy, regulatory compliance, and risk management practices. Therefore, the robust security document sharing strategies should include tight enforcement and rigorous monitoring/reporting and give people the level of access to business resources to get the job done and be more productive.
For investment market participants, legally effective electronic document management and data storage have long been a natural daily process. Investors to work with projects use many services at once: mail, all kinds of trackers, DropBox, Excel, etc. Often all these processes (pipeline, analytics, working with reports) are not synchronized in a single workspace – fund employees have to switch from one program to another. The innovative data room software meets the personal requirements of the business and provides the following benefits:
- reduction of risks associated with violation of the deadlines for the provision and processing of documents;
- introduction of automated document processing systems;
- minimization of operational risks associated with the need to ensure the non-repudiation of sending, receiving, and reading an electronic document (ED) with fixing the corresponding points in time;
- confidentiality, integrity, authorship, and legal force of ED;
- reducing the cost of information interaction.
Virtual data room – the best solution for the investment industry
Data room software ensures the following valuable features for secure operations of the investment companies:
- Control of access rights to information
Many questions arise about a single place for storing sensitive investing data – often, managers are concerned about their apparent availability. Flexible differentiation of access rights in the system ensures the complete security of corporate information. A single storage location allows you to have only one document version, avoiding duplicating documents with different edits. The data room provides the ability to additionally use an electronic signature (ES), which creates the prerequisites for implementing legally effective electronic document management in an organization.
- A quick search across the entire database of enterprise documents
Unlike a paper document, an electronic document can be found quickly and easily. This feature is especially important for those whose work involves the use of a large number of documents.
- Using templates to create documents, approval lists, or familiarization
When working with documents, some operations are often repeated. It can be regular reporting, sending a contract for approval along a given route, sending out instructions for familiarization, etc. Data room allows you to create a template for a document or routine action – using it will help save time and avoid errors when filling out.
- Generation of analytics on the work of the fund
All data on the work of the fund is processed in the system. Users can visually study financial analytics, analytics of working with the incoming stream, the dynamics of transactions, and more.
- Investment analytics
The data room has prepared another tool – Investment Analytics, with which investors can “look around”: and check which areas and projects attract the most attention and funds from venture investors worldwide.