Sooner or later, almost every business owner is faced with a situation when daily operations need to be automated. Today it can be done with the help of an innovative solution for productive business management – a virtual data room. In this article, we will define the basic criterion for choosing a software provider following review sites.

What is a virtual data room?

For several years now, the business has been aiming to create a completely paperless office. As the popularity of cloud-based file-sharing systems grows, this dream is slowly becoming a reality. But in many companies, folders are still actively used, in which old and new documents are stored on paper. In addition, many office managers simply do not know how to store even well-marked electronic documents and do not know how to organize joint work on them.

All these problems are easily solved by special software for deal management like digital data room. This suite of software combines scanning, storing, organizing, and searching for files with functionality for collaborative work on them, forming a complete system that meets all possible document management needs of a company.

Virtual data room is a corporate system aimed at automating business transactions and increasing sales, reducing costs, and profitability by accumulating customer data, improving processes and interaction between them, and gathering the entire information base of the company. It is more than a program for accounting and transactions. It is a constant source of analysis, inspiration, and business insights.

How to find the right data room solution?

Most data room solutions on the market are universal, but they are not suitable for everyone. In addition to automation features, there are several other criteria by which you should choose a VDR. All of them are related to the business processes and usability of the program. Following, they are as follows:

  • Integration with other applications. As a rule, even in a small business, processes are associated with the use of some services – for advertising, sending letters, communicating with customers, controlling accounts. It is convenient when VDR can integrate with these services – so programs can exchange data. For example, VDR will be able to send emails by itself, there is no need to spend time on additional settings.
  • Security. The system should be not only convenient but also flexible in terms of security. Well, if it has several types of users. For example, it is better to leave full access to the customer base only to the manager.
  • Simple interface. Choose a VDR that doesn’t require multi-day training sessions. Ideally, if you can understand the system using internal instructions.
  • Improvements and customization flexibility. Often, already at the stage of preparation for implementation, there is a need to change the logic of processes, or simply new tasks appear. It is better to find out in advance the possibility and conditions of improvements so that you do not have to change the data room soon.
  • Technical support. If the implementation and configuration of VDR are usually provided by the developer or the contractor who sold the product, then in the process of work, questions may arise that only technical support for the service or even developers can answer. Ideally, if technical support is available 24/7, however, there are very few systems on the market with such conditions.