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A document repository is a central filing system. It allows you to keep all your files accessible and well-organized. A centralized system protects your files from loss and makes it simple for team members to find the information they require. Document storage facilities are more secure than files located locally on personal computers. They have security measures and safeguards implemented, including password protection, automated back-ups and secure file transfers, the ability to control version, etc.

A central repository for documents is also more reliable than data stored on personal computer systems or network drives, which are susceptible to loss of data due to unreliable or inadequate backup procedures or worst case natural disasters. Many cloud-based document repositories can encrypt the information to safeguard your business from hackers and protect your data in the event of a disaster.

Additionally, a central document repository can facilitate collaboration by making it easier to work on projects and documents together. For example, document repositories usually have built-in tools for commenting and annotation and can be incorporated with other applications that your company already has. This boosts productivity and allows you to create a seamless https://electricdataroom.org/using-an-online-document-repository-why-and-how/ workflow.

Schedule an ContractWorks demo to find out how a document repository could help your business save time and money. We’ll demonstrate how our CLM software can help you store the files, share them and organize your files, and e-sign them. Our free plan includes e-Signatures along with uploads, payments and e-Signatures (for a maximum of 5 PDFs). Request an estimate for a business solution.