An enterprise electronic archive (EIA) is an electronic repository that keeps a company’s documents in a central location. It consolidates all company information in one place that can help lower costs and increase productivity. It allows employees to access the information quickly and speed dataroomnow.blog/enterprise-virtual-data-room-software-advantages/ up processes.

Traditionally, businesses use paper stacks to store its documents, but this isn’t just expensive but also unsustainable for the environment. Paper isn’t as secure and safe as digital files. Thankfully, the rise of cloud storage and EIA has helped resolve many issues related to compliance and documentation storage.

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A well-designed EIA can help businesses to comply with regulatory guidelines imposed on them by various data regulations that pertain to digital files, communications and Personal Identifiable Information. It also helps reduce the risk of lawsuits coming from vendors, clients, suppliers and other businesses.

A good EIA solution should also provide various deployment options that are customized to the specific needs of an organization. Larger companies might prefer an on-premise solution, while smaller and medium-sized businesses may choose a solution which is hosted. This can be scaled up as the business expands. It should also offer the flexibility to control access for various types of users, including regular employees the legal and compliance team and IT personnel. It should also provide the ability to design and modify roles for users, and the permissions that are tied to the roles.