Pivot From Spreadsheet Anarchy To The Preservation Of Electronic Records

Currently, managing data access control on file systems is a time-consuming process that is becoming more and more difficult due to the growth in the number of users, information, and tasks solved with the help of computing systems. For more flexible data control, virtual data rooms at virtual-dataroom.it are used. Here is more about it.

A virtual data room: from spreadsheet to electronic records

Computer information technologies are constantly moving civilization forward. Each novelty is designed to become an integral part of society. With the advent of digital data exchange systems over long distances, e-commerce appeared, without which today it would be impossible to carry out a huge number of financial transactions, in one way or another connected with individuals and legal entities around the globe.

At the present stage of development, information processing technologies often lead to the need to present data in the form of a spreadsheet.Spreadsheets allow you to store in tabular form a certain amount of source data, results, and relationships between them. Some spreadsheets serve as virtual data rooms (VDRs) that you can share with your team and investors after signing a term sheet.

Spreadsheets not only automate calculations but are also a good tool for modeling different options and situations.The main purpose of spreadsheets is to automate routine spreadsheets. They are widely used in accounting, financial analysis, planning, statistics, and many other areas where a large amount of computation is required. Modern spreadsheets allow not only to perform operations on numbers in columns and rows but also to build charts, perform complex financial and economic analysis, automate various areas of accounting and economic activities.

The main functions of the VDR spreadsheet are as follows:

  • data entry and editing, input automation (auto-fill, auto-replace, etc.);
  • formatting tabular data using standard tools, styles, templates;
  • performing calculations according to formulas;
  • analysis of tabular data (derivation of intermediate and general results, creation of summary tables, selection of parameters, forecasting solutions);
  • graphic representation of data (construction of graphs, charts; input of drawings);
  • work with lists (ordering and filtering records, searching data);
  • collaborative work with tables.

Virtual data room – a secure record-keeping system

Virtual data room is a cloud-based digital document warehouse that provides the ability to deal with the logical level of the data structure and the operations performed on the data as it is being processed. The purpose of such software is to use a convenient interface when working with data stored, as well as sharing files between multiple users and processes.

The concept of a data room file system includes:

  • the totality of all files on the disk;
  • a set of data structures used to manage files, such as file directories, file descriptors, free and used disk space allocation tables;
  • a set of system software tools that implement various operations on files, such as creating, deleting, reading, writing, naming, and searching files.

The list of the most important functions of the VDR solution includes:

  • accumulation and storage of both obsolete and newly created information.
  • creation of the most effective systems for searching for the necessary data on the smallest fragments of the entire object.
  • the maximum level of protection of all information available in the structure. Absolutely every copy of the document must have a list of persons who have the right to free access to it. 
  • creation of a powerful secure database, which is of strategic importance for the existence and development of the entire complex.