Data room software: Know how to create the best conditions for your company; The best data rooms offer various tools and options, so newcomers experience difficulties setting them up. Check out our brief but informative guide below!
Newbie guide to setting up a data room for the first time
Modern companies are increasingly organizing their workspace on the Internet. It is a very reasonable solution, which virtual data rooms will help implement! Of course, you can manage paper workflow, but it is long and inconvenient. A paper archive takes up space, many documents are lost, and it isn’t easy to find them. VDR speeds up and simplifies the transfer of information to customers, suppliers, government agencies, and within the company, allowing you to control mutual settlements between your partners or remote departments. All documents are created and stored virtually, signed with an e-signature, and have legal force. Now it remains to settle up the online data room software correctly!
Virtual data room: What do beginners need for successful settling up?
The introduction of data room services in any company occurs in stages. First, you have to take turns transferring different categories of documents to the virtual repository. In general, the experience of introducing data room software in companies of any level has one common scenario for all. To begin with, define goals and objectives for building a more efficient workflow system, reducing costs, unloading some departments, and so on. During this analysis, you will evaluate:
- what documents are in circulation of the company now;
- what office procedures your company has adopted;
- on what routes the documentation moves;
- guidelines for the creation, approval, and signing of important documents within the virtual data room;
- rules for registration of incoming and outgoing documents;
- the procedure for archiving and destruction of documents;
- the degree of protection required for each category of documents and folders.
Based on this, you will be able to determine which services and data room software tools you need to optimize the entire document flow.
Customization, implementation of the software & employees’ familiarization
After subscribing to the chosen data room software provider, you can finalize and make your settings. To do this, you will receive qualified assistance from a specialist provider. We advise you to choose reliable and proven VDRs – SmartRoom VDR, Intralinks, ForData, Merrill, Brainloop, EthosData, OneHub, etc. Also, some large companies order original services that are developed specifically for a particular enterprise.
When installing online data room software, the company must prepare virtual workplaces – creating user accounts, and settling and configuring the necessary software on a PC. It is also essential to establish communication between users and form access levels. In addition, if VDR software supports integration with other software, it is crucial to streamline their joint work. So, the moment has come when you can introduce your employees to the software. You can use a pre-prepared presentation and invite a specialist from the provider who can answer all your questions. Also, you can develop instructions and memos with the procedure for working with documents and the rules for using the electronic data room tools.
Why do you need VDR & how does this software work?
The main functions of the VDR are the digitization of office work. Besides, we can talk about the acceleration and simplification of the document exchange within the company and with external partners. Virtual data rooms help:
- store, sort, and edit documents in one place;
- protect confidential data using data encryption and different levels of access to documents for company employees;
- monitor the performance of their duties by employees;
- coordinate and deliver documentation – transfer documents through the online data room software much faster and safer;
- quickly search for documents in the electronic archive by keywords or fragments;
- save on courier services, office equipment, stationery, and consumables;
- unload the working time of the accounting, legal, and personnel departments.
- So, the virtual data room performs accounting, registration, and control over organizational and administrative activities.
As VDR develops, the set of their functions expands, they become more convenient and allow solving many issues. For example, modern data room software is equipped with separate functions for working with various document formats, allowing them to be marked and protected from leaks. Unfortunately, many companies and small organizations often do not have well-developed office work. As a result, most of the working moments are solved without paperwork. A well-designed and convenient electronic data room for employees will help cope with this.
So, for help setting up the online data room software, you should contact the specialists of the operator company. They will set up business processes for document management in your company, train employees, and help you deal with tools to protect folders and files. It is worth noting that virtual data rooms assume the presence of templates for companies from different areas, be sure to use them, as they will help you avoid using additional settings.
