It should be noted that the use of virtual data rooms is a very convenient mechanism for business in general. This is definitely a step forward in the development of corporate digitalization.
Reliable Access Rights Management and Administration System with the VDR
The COVID-19 pandemic has created an urgent need to ensure the well-being as well as the physical, mental, and financial security of workers. Due to the pandemic and remote work hours, the length of the working day has increased, leading to exhaustion and emotional burnout. At the same time, the level of stress among staff increased due to the need to balance professional and personal needs, care for children and care for family members. In addition, many employees have faced the problem of emotional burnout, which has made the issue of employee well-being a priority for organizations when developing a recovery plan.
Authorization, user authentication, access control, granular management of access rights to documents and confidential information, document version control, user action audit, system event log, real-time user action monitoring can be achieved by using the virtual data room. The list of basic methods of crisis management with the virtual data room includes optimization of organizational structure; monitoring of risk identifiers; formation of stability potential; competitive intelligence; strengthening market advantages and optimizing market positioning. At the same time, the use of the latest technologies aimed at increasing the efficiency of work creates new risks.
Take a look at some advantages of using the virtual data room:
- Archive and powerful document and content search system with 24/7 availability.
- Archiving of documents according to the set parameters according to routes of the passing of documents.
- Instant search of the document card by the scanned barcode or context search will allow finding the operatively necessary document or fragment of record among hundreds of thousands of documents registered in the system.
- Grant access rights to the archive and content only to authorized users.
The Main Steps to Begin Using the Virtual Data Room
Here are five steps you can take to begin using your virtual data room management system:
- firstly, to develop and implement a special document at the enterprise – instructions on electronic documents and electronic records management. It is obligatory to record the names of electronic documents, electronic accounting documents, archival electronic documents;
- secondly, it is necessary to obtain a qualified electronic signature, which gives legal force to electronic documents;
- thirdly, choose and implement a virtual data management service. Conduct staff training;
- fourthly, to inform contractors and partners about the transition to data room document management, to conclude agreements with them on the agreement on electronic contracts and other documents and the use of electronic signatures;
- and, fifthly, to consolidate the transition to electronic document management by order of the company from a certain date.
Contractual relations with contractors using the virtual data room should, if possible, be based on standard, understandable to all conditions. Adherence to this rule will allow the company’s managers to work with customers as efficiently as possible. After all, contractual schemes known to both parties will be used to resolve specific disputes. The block of contractual documentation consists, as a rule, of a set of standard agreements which adapt to features of the commercial activity of the company. This set also includes documents that formalize specific transactions – invoices, acts of work performed, the detection of defects in the goods, claims templates, and more.