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Business Software: Essential Types of Software Every Business Needs

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Data room software for all sensitive information

Conducting the main and additional activities of the company needs to be accompanied by the process of processing confidential documents, which in turn requires not only the use of accounting systems or complex ERP systems. This task is best handled by electronic data room management systems. Here is more about it

Digital data room – secure warehouse for sensitive business data

The activity of a huge number of organizations is associated with the processing of large information flows formed by masses of documents or their electronic prototypes. In such conditions, automation of office work and the organization of workflow becomes one of the main and priority tasks of the enterprise. This work is important both for a step-by-step movement towards the creation of a fully functional document management system, and for achieving an early effect in other areas of the enterprise’s activities related to the organization of management accounting, control, and systematic analysis of production indicators.

The development of the digital data room software is aimed at solving this class of tasks, designed to automate the basic procedures of modern office work and organize workflow. Consequently, the automation of file-sharing and the organization of workflow becomes not an end in itself, but an effective means of solving problems related to the production or deal management activities of the company.

Virtual data room (VDR) is a system for storing documents in electronic form, ensuring the reliability of storage, confidentiality, and access control, tracking the history of changes, convenience, and speed of search. According to ddraum.de, a data room that satisfies these requirements should have the following main functions:

  • reliable storage of all versions of documents involved in processing processes;
  • convenient systematization of the archive of documents following the requirements of the enterprise;
  • determination of the circle of persons involved in the business processes of processing documents, setting the level of their rights and functional powers in the system;
  • protection of information from distortion and unauthorized access;

The main data room benefits

Using VDR solutions in the corporate information structure ensures many advantages. They are:

  • Terms of processing and safety of documents. When transferring the company’s office work to an electronic format, the probability of untimely processing and transmission of important documents is minimized. The probability of damage or loss of incoming and outgoing documentation is practically excluded.
  • Cost reduction. The transition to an electronic data room helps to reduce the cost of stationery and office equipment, shipping by postal and courier services, and storage of paper documents. There is a possibility of a complete rejection of paper documentation.
  • Reliability. When using digital documents, the likelihood of duplicating information is reduced, reliable storage of documents is ensured, and information leakage is prevented.
  • Fast data exchange. The process of exchanging electronic documents takes several minutes. As a result, time savings are evident. Terms of creation, coordination, approval are minimal. If errors are identified, corrective documents can be quickly obtained. With the data room, signing, sending, and receiving documents can take place at any time of the day or night from any device with an electronic signature.
  • Electronic archive with a quick search. VDR provides the convenience of information storage. There is no need to organize and maintain an archive of paper documents. All data is stored in a secure electronic archive indefinitely.
  • Working time optimization. The introduction and use of VDR increase the efficiency of using the working time of employees, accelerate decision-making processes on documents and bring them to the staff.

Best board portal practices for board minutes & decisions recording

Hosting a board meeting is half the battle. It is also necessary to record the decisions taken in the form of minutes of the meeting, as well as to inform everyone about the results of the meeting. This can be done using the board portal, which not only records the meeting but can also help with the formation of the protocol. To your attention are some of the most successful examples of the program and a detailed explanation of how protocols are drawn up.

How are protocols drawn up?

Any protocol, regardless of the type of event, consists of three parts:

  1. Header.
  2. Basic.
  3. Decorating.

The key components of the header should be located in the upper right corner of the center of the sheet. It usually describes which company is holding the meeting, who is attending, when, and where it happens.

In the title of the future protocol, it is imperative to indicate which body is responsible for the production of this protocol. After all, not only the board of the company but also the chief managers of the enterprise, expert commissions can participate in the meeting.

Protocols are of two types: full and short. Such a division depends on the completeness of the coverage of the issues considered at the meeting. At the same time, the main part of the full protocol is also divided into two parts: introductory and main. The introductory part contains information about:

  • The chairman (or presiding) of the meeting is the head of the body holding the meeting.
  • Secretary of the meeting – the employee who draws up the protocol; the names of those present at the meeting (meeting); invited persons (if any).
  • Agenda – issues under consideration.

In this case, if a large number of people attended the meeting and it is inconvenient to indicate the names of each, their number and a link to the list of those present should be noted. Each issue on the agenda is indicated in the prepositional case, numbered in Arabic numerals. You must also add the speaker’s last name and initials.

Best Meeting Minutes Software

Among the most popular and popular programs for holding virtual meetings of the board and the formation of protocols are:

  • BoardMaps. This software allows not only to hold meetings and form minutes after them, but also to store and edit documents, sign them, and helps in decision-making. BoardMaps saves a lot of time for managers.
  • iDeals. With this software, it is convenient to keep each member of the board up to date on the most important decisions made in the company. On the platform, you can confer and record the results of meetings in the form of minutes.
  • Boardvantage. A powerful professional tool developed by Nasdaq. There are a lot of tools for working with documents, holding meetings, and logging the latter.
  • OnBoard Passageways. Reputable software has been on the market since 2003. It is ideal for financial, non-profit, and healthcare organizations. An extensive arsenal of tools is offered for holding meetings and creating minutes, transferring authority in connection with the decisions made.

You can learn more about the benefits of special software for managers on the pages of the website https://boardroommind.com/selection-guide/. There are not only useful articles about the choice but also ratings and reviews of the most popular Board Portal.

Data room for due diligence and its unique features

Have you ever thought about changes that can change your business? Are you ready to implement only valuable technologies into the working routine? Today we will share something dissimilar about data room for due diligence, virtual data room, software as a service, and online data privacy. Let’s develop your knowledge about modern and valuable tools.  

To begin with, data room for due diligence is the most convenient solution as it will store all sensitive documents that are crucial during various business deals. Besides, data room for due diligence analyzes the readiness level for business transactions and how employees prepare for this. This room saves time and resources as it is a possible use for various parties during an urgent business meeting. Directors will set permissions, add a document, and all participants can share with different files without any difficulties. Every process will be under control. Furthermore, this tool can be used in multiple areas in due diligence., for example, financial, technology, management, etc.

Very helpful technology is the virtual data room.

One of the principal aims in the usage of this room is the storage of all types of files. Besides, virtual data rooms provide such opportunities as secure exchange with documents and protected collaborative work. However, directors have to make profound analyzes before they will implement this virtual data room into the business. Firstly, they have to be aware of all features that each room has. Secondly, it should be made in-depth analyzes on companies weak and strong sides. Thirdly, directors need to compare all reviews about virtual data rooms. These are the main steps that will lead to making the best decision.

Software as a service is an additional tool for helping to be prolific for business. With this service, it will be easier to share only valuable products via the Internet and be more accessible for customers. Software as a service shares such advantages as improved access, easy customization, and saves money. Besides, it will be possible to monitor how many customers use this service and what they see and how they use it. Knowing this information will give extra possibilities to change something and become the most profitable company for clients.

Besides, it is crucial to be cautious about online data privacy. As the Internet becomes an integral part of business life, and it is one of the central sources to get information, companies and their directors have to control online data privacy. So, all sensitive and private information will be unavailable for users. With this tool, all teams will be sure about the high level of protection, and it will be a slight possibility to hack the company. 

In all honestly, we highly recommend considering this information and remember that with innovative technologies you have also tools to protect your business, employees, and customers that work and use the services of your company.

 

Best KPI dashboard for business

KPI is a measurable metric that demonstrates how effectively a company achieves key business goals. So, this article will investigate the examples of top-rated KPI dashboards.

System of KPI as a guarantee of effective business process management

The modern business environment is quite changeable and is characterized by increasing competition. Significant influence of internal and external factors, increasing the cost of resources, new technological solutions – all these factors push the owners of companies to look for new methods of business process management to maintain a competitive position in the market and achieve the highest financial results.

Given the basic principles of management, the improvement of the process, in general, should begin with the stage of assessing the current state of development of the company. The analysis is of remarkable importance in business process management through opportunities to identify gaps, shortcomings, imperfect mechanisms. The most popular modern method of business evaluation is the KPI system or key performance indicators, which are used by most large global companies. The main performance indicators are the company’s measured goals are usually related to strategy disclosed through performance management tools such as balanced scorecard.

KPIs are important tools for corporate success. Here are just some of the benefits of implementing KPI management software:

  • A platform for creating, managing, and analyzing KPIs has been set up.
  • Ability to use a highly specialized system instead of traditional methods (such as spreadsheets) that are prone to errors.
  • The software visualizes data in an accessible form using graphs and tables.
  • A powerful tool for real-time performance monitoring and cause detection

What is KPI dashboard?

As KPI dashboards become more common in today’s fast-paced organizations such as SaaS and cloud companies, they are usually a consumer format in which a person can view their data in real-time, while reports typically represent a specific snapshot at a time. One of the most common cases of using the KPI toolbar is startups, which share their key performance indicators of the organization to achieve consistency with all employees.

Each indicator panel is designed to perform three sets of functional tasks, such as:

  • Tracking critical business processes and activities using indicators efficiency
  • Identify the causes of problems through analysis of relevant and relevant information
  • Manage people and processes so that find optimal solutions, maximize the effect, and lead the organization in the direction of achieving goals.

There are three types of dashboards: 

  • Software solution for process management in business. The analytical panel collects information from various divisions of the company. The manager can track the dynamics of sales and profit figures, the accountant can monitor the movement of funds.
  • Campaign monitoring. As examples, we give again Yandex. Metrics and Google Analytics. These services allow you to monitor and evaluate the effectiveness of marketing campaigns.
  • Condition tracking. An analytical system that monitors the state of any process becomes a real business assistant.

The best alternatives of  KPI dashboard for business

Today the dashboard is the best tool for monitoring and analyzing information about the effectiveness of business processes. Depending on the set enterprise management tasks can use operational, tactical, and strategic types of indicator panels.

The list of the commonly-used dashboards comprises the following services:

  1. Klipfolio
  2. Zoho CRM
  3. Tableau
  4. Click
  5. Domo
  6. Klipfolio
  7.  Actions
  8. Idashboards
  9. LinkedIn 
  10. Zendesk

Connected Business Reviews 2021

ERP-system in modern business – a whim or a necessity? In this article, we will consider the main aspects of the company’s work, which may be affected by the implementation of such a system; and discuss the functionality of Connected Business.

What is an ERP system and why is it needed?

Over time, each system evolves, small businesses grow into large ones, and new needs emerge. The company is expanding, so it is necessary to automate processes to ensure an efficient process of managing enterprise resources. These problems are solved by the Enterprise Resource Planning System (ERP) that is a corporate information system (CIS), designed to automate accounting and enterprise management. All ERP systems are built on a modular principle, which allows you to create only the functionality that is required for particular department enterprises.

These integrated solutions improve the quality of decision-making, productivity, and profitability. ERP systems allow you to effectively plan the commercial and production activities of the enterprise. Features of application of modern ERP-systems include:

  • automation of various methods of planning and management of business processes from the system of orders to mass production with the possibility of their rational combination and adjustment to the specifics of a particular enterprise; integrated use of subsystems of accounting, analysis, and planning of sales, production, supply, and financing;
  • implementation of modern budgeting technology and ensuring the dynamic coordination of the necessary resources across the spectrum of business processes based on management cost accounting;
  • planning and management of orders and projects, taking into account possible risks due to some changes or resource constraints of the enterprise.

Besides, the development and implementation of an ERP system is quite expensive, so it can be allowed

only entrepreneurs of medium and high level of business.

A typical ERP system includes the following subsystems:

  • production;
  • supply and marketing;
  • inventory management;
  • after-sales service of manufactured products;
  • staff;
  • research and development;

Advantages

The benefits of implementing ERP systems are

  • reducing costs by increasing productivity;
  • reducing the time of the entry of goods and services into the market;
  • reducing the number of production operations;
  • increasing management awareness;
  • improving the quality of forecasting and planning;
  • formalization of business processes of the company;

The best ERP platforms review

  • System21 – a system that widely uses ERP and SCM. For 20 years, System21 has been operating in more than 2,000 companies worldwide and is a leader among ERP systems based on the iSeries platform (AS / 400) in the medium business segment.
  • Microsoft Dynamics AX is an ERP solution for medium and large companies, which helps to expand their capabilities and gain new competitive advantages.
  • Microsoft Axapta covers all areas of business, including production and distribution, supply chain and project management, financial management and business analysis tools, customer relationship management, and personnel management.
  • Connected Business has the following advantages: it is a system that allows you to do business exactly as the customer sees fit; improves interaction with customers, business partners, and employees; provides powerful, comprehensive functionality in a single integrated system; provides opportunities for rapid business growth and development.
  • Microsoft XAL is an integrated automated system with a universal set of functions for managing the financial and economic activities of medium and large businesses.

How to game share on PS4?

In this article, we will find out how to buy games for PlayStation 4. You will also learn how to share your library of games purchased on PSN with a friend and how to deactivate PS4.

Why people choose PS4?

Even those who are far from the video game industry and have never held a joystick in their hands have no doubt heard of a gaming console like the Sony PlayStation.

Pros of PS4:

  • A game designed for several players. There are many social games on the PS4, such as Just Dance or games from the PlayLink line.
  • Easy HDD replacement. To do this, remove the special cover and unscrew one screw – and you can put a larger drive or change it with an SSD.
  • Easy to use and presentative and interface. Even if you are running the console for the first time, a few minutes will be enough to understand.
  • Small size. You also do not need to install any drivers or operating systems.
  • A computer that “pulls” the same games as the PS4 will cost many times more.

In general, there are two obvious ways to get games for PS4 – digital distribution and physical media with the help of Blu-ray discs.

Why do you need a subscription?

After you have purchased and connected your console, you need to register in the system and subscribe to the company’s online service. Unfortunately, without this, you will not be able to access online and online games, and their “local” capabilities are very limited.

In addition, with a Playstation Plus subscription you will have access to:

  • Monthly free games package;
  • Various bonuses and game avatars;
  • Automatic download of updates and patches;
  • Beta version of new games,
  • Cloud storage for your user data,
  • And also to discounts which during holidays and sales appear considerable enough.

If you do not have a subscription, you can only play some MMO games, indie, and free-to-play projects.

How to share games?

Today you can share your favorite game on PlayStation 4. It is not at all necessary that a friend has the same game, Sony allowed to play in co-op with one copy. Of course, this is due to certain restrictions, but rather soft ones that do not interfere with a comfortable game.

Game Share (also called Share Play) is a function that allows you to play over a local network with your PSN friends. The main advantage of the service is that the second participant does not have to buy a copy of the game. With the help of technology, other users can watch the broadcast of the game or become a participant in it. All the listed benefits are available after clicking on the “Share” button.

What are the limitations of Game Share technology?

Basic requirements for session participants:

  • To transfer the controller, you need a PlayStation Plus membership. To play together, the paid service must be active for both gamers.
  • The game must be available in the store at the current time.
  • The host and the second participant must be PSN friends.
  • The maximum number of participants is 2.
  • You cannot use the PlayStation camera in this mode.
  • The parental control level, as well as the age limit, must allow the game to run.

What is a Virtual Data Room?

This article will investigate the question of what is a Virtual Data Room and designate the basic features of such a service.

Guiding principles which help you to choose a Data Room

In today’s business environment, the one thing that all firms have in common is the need for quality data. We have compiled a list of parameters that you must pay attention to when choosing a cloud data center:

  • Reliability and fault tolerance

The storage and protection of your data directly depend on these characteristics. It is better for the cloud operator to place its equipment in several data centers, one of which is located abroad. All of them must be built in accordance with the standards not lower than the TIER III level, which means mandatory duplication of all systems, 24/7 security, and physical security.

  • Technical resources

The virtual data center should be built on the latest generation of A-brand equipment, using the latest productive processors and SZD, several virtualization platforms, such as VMware and OpenStack, which will solve a variety of complex tasks. The operation and fault tolerance of this platform depends on the quality of the equipment.

  • Test period

You need to clearly define when the cloud operator begins the test period – before or after the transfer of customer data. It is also important to find out how long the test period lasts and whether it is free. During testing, you will be able to determine the exact amount of resources needed, and if the load increases, you can buy them instantly.

  • Support

Operator technical support fulfills the mission of system administrators: they support the cloud. Find out how technical support professionals work, in what language they respond to inquiries and whether their services are free.

  • Billing system

There are several billing options: in the form of fixed monthly payment for the allocated amount of resources (Allocated) or a monthly payment for the actual consumption of resources by virtual service.

Examples of  available Data Room tools on the market today

Some of the famous providers of Virtual Data Room include:

  • SecureDocs offers unlimited storage and users with a flat monthly fee. You can take advantage of various features such as watermarking, permission-based user roles, audit reporting, embedded electronic signature, and more. However, as with other traditional VDRs, SecureDocs lacks diligence control capabilities.
  • Merrill offers a secure platform for reaching organizations’ strategic goals. It just takes 15 minutes to deploy an out-of-the-box solution. You can easily upload documents using drag and drop and manage intuitive document rights. Keep in mind that Merrill’s pricing structure has limitations for admins, users, data, and projects.
  • Intralinks is designed to use mergers and acquisitions for global banking, transactions, and capital market transactions. It provides robust data protection, information rights management, and an updated user interface to secure your transactions.

Regardless of the industry, it is important that companies look for the type of VDR supplier that best suits their unique needs. After careful assessment, many find that these needs change over time. Typically, companies look for vendors with specific feature sets, pricing, security implementations, and usability that they can test during a free trial offered by most vendors in the industry.