http://dataroomnow.blog/enterprise-virtual-data-room-software-advantages

An enterprise electronic archive keeps all records, documents and communications in a space that is accessible digitally to authorized employees. These systems reduce expenses and boost productivity over pen-and-paper processes. Searchable archives permit employees to access information more quickly, which speeds up the workflow process. For instance accounting firms can find historical financial records quickly to improve data analysis. Digital archiving helps companies comply with regulations, and avoid costly litigation.

Certain industries, including finance, healthcare and government, have strict regulations that require compliance with data. Infractions could result in huge penalties, or even a damaged reputation. To ensure compliance, these industries need to archive their old and inactive data regularly to be prepared for audits or court proceedings. Many companies use cloud archives to meet their data retention requirements.

Using an electronic system to archives reduces the possibility of losing important documents by putting them in the hands of all authorized users. It also eliminates manual processes that can be time-consuming and prone to errors. It also saves space, which means that there is less necessity to buy additional storage cabinets.

Additionally, a cloud archive can also make it easier to conduct regular audits of data. For instance when an employee needs to check the terms of a contract prior renewing the contract, they can easily access the contract through the archive.