5 Must-Have Features to Look For in VDR

In the modern world of high technologies, many people in business are trying to optimize and modernize their workflows. Large corporations engaged in the supply of goods and services have long been implementing virtual data rooms into their internal structure. So, what are the criteria for choosing software?

Data room software for better business productivity

The rapid exchange and collaborative editing of documents in the cloud are part of digitization. In highly regulated industries, security is a top priority. It is exactly what can be guaranteed with a virtual data room. The main goal of business process development in a data room is the magical transformation of chaotically woven chains of intercompany interactions into ordered, consistent and understandable algorithms.

The integration of the data room software into the corporate structure should solve the company’s problems: help automate reports or control the work of staff. Therefore, they first formulate goals to help solve these problems and then work to achieve them. Goals can be:

  • reactivation of the customer base;
  • increase in the conversion of the application to the sale;
  • automation of workflow and reports;
  • generating analytics and improving the sales funnel to shorten the deal cycle;
  • increase in repeat and cross-sales;
  • convenient analytics for the company’s projects.

What features should be considered?

The modern IT market offers a wide range of platform solutions with the ability to expand functionality and scale. Moreover, the data room management system on the platform is the basis for building business solutions. So, there are 5 must-have features for a reliable software that can help you to find a suitable provider for your business:

  • Ability to manage security. The program must guarantee the safety of data and its confidentiality. Each of the employees should have access only to the information that he needs to perform his tasks;
  • Support form. The purchasing software is only part of improving sales and marketing. Many people forget about the necessary costs of ongoing support. Two options are available: outsource the work to a third-party specialist or hire a person in the company. However, many vendors offering data room solutions provide the necessary support for their customers.
  • Availability of a mobile application. It is a solution that allows you to interact with customers and resolve other issues when working remotely outside the office. Such a program is also helpful for managers since it will enable you to control the workflow at any time, manage employees and solve other tasks remotely;
  • Document workflow automation. First of all, this applies to paperwork – such a routine as invoicing with manual entry of all the details can take a lot of time for employees.
  • Sales rationalization. The data room helps optimize the entire work cycle of a B2B company, which is aimed at creating a single sales stream. Because order processing and quote preparation are automated, sales teams can reduce production costs and increase revenue.

Thanks to introducing a single database, data room software turn out to relieve the staff. Such software can be the best solution to organize the sales department’s productive, well-coordinated work. The data room is suitable for small enterprises, companies, and businesses to adapt to the specifics of work and solve the problems of analytics, marketing, and business processes.