In companies that maintain digital repositories, the work capacity of employees increases several times. Those who do not systematize documents are not so willing to work. Still – one thought that the necessary information would have to be searched in piles of papers ultimately discourages the desire for business activity. Here is more about file indexing and structured Q&A in a virtual data room.
Digital data room: what are the primary functions
The data room automatically manages the route of the document, the status of internal documents, and user access rights. When the next stage of work occurs, the system automatically delivers a notification to the next participant in the work with the internal document. During automatic registration by the system, the document is assigned a number after the signing (approval) is completed.
The main functions of the software are often classified into the following:
- The indexing functions allow the user to record information, store it in a database, and let the same user perform attribute searches when needed.
- Depending on requirements, formatting features help format content with an editor that turns the document into HTML, PHP, and PDF files.
- Version control allows you to edit, change and update information anytime. It also keeps track of changes made to files.
- The publishing feature allows users to create, modify and use existing templates to publish information on the web.
A rather tricky problem is the organization of a quick search for documents. Document indexing in the data room is used to organize the search. The indexing system can be an attribute or full text.
Types of data room indexing
In the case of attributive indexing, a specific set of attributes is assigned to a document, represented by text, numeric or other fields, by which the search and access to the desired document are performed. Usually, it looks like a catalog card, where the author’s name, date, document type, keywords, and comments are stored. The search is conducted on one or several fields or the whole population. With full-text indexing, all the words that make up the document, except for prepositions and little words for search, are entered into the index. Then the search is possible on any incoming word or their combination. A combination of methods is possible, complicating the system but making it easier for the user to work with it.
Q&A functionality in a data room
With the new Questions & Answers function, the complex question and answer process for due diligence reviews and company acquisitions and sales can be handled in a structured and efficient manner. It means that time-consuming and unstructured e-mail communications, telephone calls, and faxes can be avoided during transactions. Questions can be forwarded to specified experts in the data room for quick answers. Detailed, individually definable access rights regulate the visibility of the questions and answers on the buyer and seller side. All questions and answers are logged and monitored directly in the data room. It enables secure, traceable, fast communication between all parties and facilitates more closed business deals.
The Q&A tool controls the communication between all proponents of a data room and the exchange of documents, images, and videos. This module allows buyers and sellers to post questions about the data space and content safely and efficiently. The data room users want to know more about all software user interfaces by clicking on the “Q and A” symbol. Some vendors may route questions straight to the appropriate operations team member. While asking and answering health mushrooms, the defender and the seller can access the document in question simply by clicking on the analog icon.
