A document repository is often termed a knowledge repositories or a knowledge base. A document repostiory is a tool employed to capture, organize and store codifiable knowledge and is an important component of knowledge management initiatives in organizations.
Projects of any size can generate a lot of documents. Some large projects will last several years and generate hundreds of documents. In addition, almost every project is worked on by more than one person (not all of whom are necessarily located in the same office), and the documents that make up the project often need to be shared with stakeholders both inside and outside the organization. Simply emailing files back and forth prohibits real-time collaboration and is typically too unwieldy a process anyway, so knowledge workers often rely on a document repository of one sort or another. A document repository can be managed with software tools, simply placed on a shared directory using a folder and file structure, or replaced with a virtual data room (an online document repository).
A document repository is an important part of an organization's information and knowledge initiatives. In today's world of global competition, it is essential that a company gets its information management strategy right. Smart companies use a document repository to store and distribute employees' knowledge, such as best practices or research results, across firms. This has the benefit of enabling employees to reuse information already acquired by co-workers, rather than engaging in expensive, inefficient, and duplicative efforts to reacquire the knowledge on their own. A document repository can therefore provide companies with a valuable source of competitive advantage, especially in knowledge-intensive industries such as information technology, consulting, and biotech or life sciences.
One of the biggest mistakes companies make regarding their information strategy is the fact that all too often, companies formulate their document repository based on the assumption that structured data represents the majority of the data that will be housed there. In fact, the general rule of thumb is that structured data comprises less than one third of a company's total data. The overwhelming majority of a company's data is found in unstructured documents such as proposals, purchase orders, invoices, employee reviews, and reports. Since all of these different types of documents are usually stored in many different document repositories, including customer relationship management systems, enterprise resource planning systems and different folders on employees' hard drives. If the document repository does not have a robust search capability, the ability of information workers to locate a document and incorporate his or her organization's knowledge base into daily work will be severely hampered.
Virtual data rooms provide an excellent document repository platform for for storing, retrieving, and using document-based data within the enterprise. Virtual data rooms have features that enable companies to store documents in an organized way, using the same encryption technology used in online banking, and to search for and retrieve these documents by searching, sorting, and filtering. Documents stored in a virtual data room can be accessed over the Internet 24 hours a day, 7 days a week, and access to documents, folders, or libraries within a virtual data room, as well as access to the virtual data room itself, can be controlled on a per-user basis.
The technology behind virtual data rooms initially appeared in the mid-1990s, as web browsers and the use of email became first widespread. Virtual data room document repositories have been used to make corporate finance transactions more efficient and more secure for years, but adoption outside of financial services was slower, mainly because information management staffs were not very familiar with them. Interestingly, the slowing economy has led to an increase in the use of document repositories, as managers search for new ways to increase efficiency and reduce costs.
A virtual data room document repository enables enterprises to easily manage files, documents, and images. Virtual data rooms can be configured in a number of different ways; room administrators are able to create multiple rooms, libraries, folders, etc. In addition, virtual data rooms feature robust search capabilities that enable users to perform Boolean searches for words or concepts either within a given document or across an entire library. Documents uploaded to a virtual data room are immediately available to any authorized party with access to the Internet. In this way, virtual data rooms serve as an excellent document repositoriy that enable companies to capture, organize and store their codifiable knowledge.
Step 1 - Setup your V-Rooms™ group account within hours.
Step 2 - Rapid upload of hundreds of folders, files and usernames
Step 3 - Begin working, while tracking all activity.
Proprietary document repositories often feature all-or-nothing security - that is, a user either has permission to access the entire document repository, and all of its contents, or none of it. At best, a user may be granted access permissions on the directory level. Virtual data rooms provide multi-tier file access permission levels, enabling administrators to control access at the individual file level, if desired. In addition, secure document sharing permission can be granted to view, but not print files, or to upload files, but not delete them.
Another important security-related feature of a document repository is the ability to enable access by outside parties. Document repositories are collaborative by definition. So it is not uncommon for external stakeholders to require access to a company's internal knowledge base. Understandably, IT staffs are generally reluctant to grant permission to non-employees to access their servers, and as a result, document repositories are sometimes stored outside a company's firewall. Virtual data rooms provide high levels of security while enabling easy access by any authorized party, which facilitates easy collaboration on projects, communication between multiple stakeholders, etc.
Document repositories are important elements in an enterprise's information strategy. They serve as central locations for employees' knowledge, increase efficiency and represent a source of competitive advantage, especially in knowledge-intensive fields. The features of a virtual data room, such as increased organization, convenience and security make them excellent platforms for an enterprise level online document repository.
To see a sample V-Rooms™ Online Document Repository, use the button provided below and enter the matching username and password.