Virtual data room is a good solution for organizations seeking to organize effective work with corporate documents in real-time, both individual employees and the organization as a whole, to organize an electronic archive of documents of various types. This article is an overview of the Venue data room solution.
Venue (by DFIN) VDR: how does it work?
The market of data room solutions in recent years shows high growth dynamics. At the annual forums, exhibitions, conferences, many solutions from different developers are presented, offering both universal solutions and specialized products designed for specific business processes, which confirms the great interest in these systems, both from consumers and by developers and partners.
Virtual data room (VDR) is a document, knowledge, and business process management system and application solution for creating distributed archives, project management, and corporate office work in a distributed mode.
One of such solutions is a Venue (by DFIN) VDR. It is an Australian provider of a full-featured digital solution for M&A deals, real estate, due diligence, IPOs, etc. The use of Venue VDR, on the one hand, involves interaction within the sales team (e-mail, calendar, news, chat, etc.), and on the other hand, involves the customers themselves (discussion groups, joint projects, Q&A system). This is because any data room system is a specific set of interacting components. Often, some of them are already part of the existing information infrastructure of the enterprise, such as e-mail systems, relational databases.
Venue VDR performs the following functions:
- allows companies to easily route documents and monitor the execution of documents by time and date of execution;
- can integrate with other products that support automated input of input documents, document archiving, cryptographic protection of information, etc.;
- ensures data security, allowing access to documents only to certain users;
- a single database is created on the server, which allows you to securely store documents, organize them and quickly find the information you need. This implements the most important principle of the VDR: the document is stored in a single copy in a place well protected from unauthorized access;
- for quick search of documents, the repository is provided with a mechanism of end-to-end or, as it is also called, full-text search, which allows in a very short time to find the right document for the keywords contained in it.
Venue data room: what are the benefits?
Venue VDR is a corporate information system and an indispensable tool for doing business. In the data room, you can manage business processes: projects, clients, resources, finances, and accounts.
There are the following advantages of Venue data room:
- Company management tools in one program. Advanced data room allows you to manage all business components – projects, personnel, customer records, communications, finances, workflow, time, website, mailing lists, etc.
- All data in one place. The software can store all data on projects, clients, contacts in one place. All information is always at hand for each of the employees. Quick access to data allows you to quickly serve customers.
- Staff optimization. Working through the data room allows you to see which of the employees is doing what, what their workload is, and how effective each employee is. You can assign tasks to employees for today, tomorrow, and next week. The time tracker will calculate the time spent on projects down to the second.
- Sales analytics. Venue VDR allows you to automatically build sales funnels, graphs, and charts, helping you track the progress of sales in dynamics and notice in time those areas that need adjustments.