Setting Up a Data Room – Manual for Beginners

Virtual data room enables the electronic exchange of legally significant documents with counterparties for maximum user convenience and economic benefit for the company. In this article, we will consider the common aspects of setting up a data room.

Digital data room – functional solution for business tasks

Virtual data room is a corporate electronic document management and interaction management system aimed at improving the efficiency of employees of the organization in various areas of their collaborative activities.

Data room solution consists of several modules:

  • Document management. The software supports a full range of work with electronic documents: creation and editing in various application formats, structured storage; access control, protection against changes through encryption and ES; attribute and full-text searches; logging of work with documents.
  • Customer relationship management was created to work with databases of organizations and contact persons: the history of meetings, calls, correspondence, support of the sales process, planning of marketing events, analysis of the effectiveness of sales and marketing impacts.
  • Business process management automates the processes of approval and processing of electronic documents (doc flow); provides issuance of electronic tasks and control of their execution (workflow).
  • Contract management automates the processes of approval, approval, and registration of incoming and outgoing contracts, ensures the confidentiality of information, makes it possible to assign a person responsible for registration and serves for centralized storage of information on contracts.
  • Management of meetings is intended for the preparation and conduct of meetings: discussion of the composition of participants, agenda, place and time, formation and distribution of minutes, control over the implementation of decisions.
  • Management of performance indicators is designed to automate work with quantitative assessments of certain processes of the organization. The module allows you to develop algorithms for obtaining estimates, accumulating statistics, and visually displaying values in the form of tables, graphs, and diagrams.

How to organize document accessibility in the data room?

Processing of incoming letters, contracts, primary accounting documents, minutes of meetings, and personal documents with the help of data room intelligent services reduces the complexity of the process in routine operations. Documents are captured from a scanner or e-mail, divided into sets, and classified by type. The system will compare the versions of the document and highlight the changes. The text extracted from the content allows you to automatically register documents and applications with filling out the card, the responsible specialist only needs to check the correctness of filling and completeness of the set.

Intuitive scenarios of interaction with the solution, built-in hints, and a concise interface help you quickly master the capabilities of a virtual data room. The system analyzes user actions and suggests the necessary functions, flexibly calculates the timing of tasks. Documents are easily generated from company-configured templates, and collaborative document reviews speed up approval.

By default, predefined folders are configured for each user:

  • The Inbox receives tasks that the employee needs to complete;
  • The Outbox contains the tasks assigned to them;
  • Favorite is the user’s personal folder;
  • The public folder is an electronic archive of the entire organization.

When creating a document using the system, templates are often used that determine the initial content of the document. Also, the user can add to the data room already ready documents from any operating system file system, from a scanner, or an email thanks to integration with Microsoft Outlook.

The document designer allows you to create standard documents based on already prepared layouts. Layouts provide for the user to fill in individual fragments or change sections of documents depending on the initial value entered.

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