Virtual Data Room helps speed up business processes and provides managers with a holistic picture of the company’s work to make both operational and strategic decisions.
How to manage your business data flow?
In the conditions of globalization and informatization of society, a large flow of information fell on state enterprises, institutions, and private organizations. In the process of document management today it is impossible to ignore the growing flow of documents, electronic document management. This forces to introduce work with new sources of information, to improve new forms of document circulation, to develop processes of document circulation automation.
Document flow, by which we mean the life cycle/movement of a document, from the beginning of its creation, the processes of movement to destruction, is an indispensable structural element of both government and commercial institutions. And it does not depend on the scale of an organization. The existence of any enterprise is impossible without document flow, which operates in the form of flows.
Document automation refers to the possibility of using information from the database, reducing the input of information manually, which gives again in time and in reducing the number. Documents and other corporate information are of great value, as are material resources. To be competitive, modern approaches to document processing are needed, and it is important to pay sufficient attention to information security issues. This is where Virtual Data Rooms can help.
Consider the general structure of office work in the Data Room. Typically, these are three large blocks:
- creation of the document and its registration;
- actual document flow (transmission, shipment, performance control, etc.);
- creation and maintenance of the archive (entry, search, systematization, etc.)
Document automation in the Data Room requires a streamlined document cataloging system. Directories are created according to various criteria of classification of documents and should be convenient and easy to use that will facilitate the search of the necessary documents in case of need. The basis of directories is a database of documentation.
DealRoom for your business needs
DealRoom is a cloud-based solution that is easily customized for your company’s business processes, which allows you to control huge data sets and information flows. A high level of data security is guaranteed by modern means of information protection and technological features
DealRoom leverages machine learning to eliminate the need to manually respond to duplicate requests by automatically suggesting previous responses and related documents. The progress of due diligence can be tracked over time, and any requirements that are flagged as high priority or high risk can be monitored.
The solution uses machine learning to identify duplicate requests and automatically retrieves any existing answers or documents. With DealRoom, users can mark high-risk or prioritized requests. The solution also helps users predict buyer concerns by analyzing document activity such as the number of views.
In addition, it offers a mobile-friendly interface with which users can view documents on tablets or phones. Services are offered on a monthly subscription basis, including support via email, phone, and live chat.
DealRoom advantages
The software provides the following advantages:
- increasing the efficiency of interaction with external contractors through the automation of electronic document management;
- data security – the entire information field of documents is stored in the corporate electronic archive and does not allow access to them by persons who do not have the appropriate rights to view or edit these documents;
- storing all the information in a single electronic document management system allows you to quickly find the desired document, note, resolution, contract, etc;
- optimization of office costs, postal items, necessary copies, transportation, storage of documents.