The data room is designed to organize the distributed work of users with contracts, automate the negotiation of the terms of business deals, and operational work with them. This article is a comprehensive review of Firmex data room.
Firmex data room in the IT market
Modern competitive conditions require most companies to use information technology to improve the manageability of business processes. The creation of an automated system for accounting and managing contracts makes it possible to systematize a single database of company contracts, quickly track the terms of contract execution, closing, and prolongation of contracts. In this case, the Firmex data room is a perfect variant for a secure digital repository and well-organized collaboration.
In terms of document flow, all processes of working with contracts are systematized and simplified: preparation of contracts, approval, execution, and storage. Advanced analytics and tracking of key processes allow you to control and analyze contractual activities in all their aspects, avoiding the costs associated with non-systematic work with contracts, disparate storage of documents, and lack of up-to-date information. Firmex makes it possible to plan, control and analyze contractual activities in an interconnected manner, records all changes in the statuses and parameters of contracts, provides complete, up-to-date, and structured information.
The Firmex VDR consists of several functional blocks, each of which solves a certain range of tasks:
- Storing and viewing contracts. The system of navigation through the repository of contracts is organized in such a way that you can instantly find the desired contract or group of contracts and get the necessary information on them.
- Preparation and approval of contracts. Convenient tools for optimizing the preparation of contracts: directories, templates, default property settings.
- Event Tracking Schedule of required contractual actions using event management tools. Reporting Information on current indicators of contractual and financial activities. Evaluation of performance.
- Formalization of business processes for the processing and execution of documents, the formation of standard technological schemes for the implementation of these processes.
- Document status control. VDR allows you to easily control the status of the document (delivered, signed, refusal to sign).
The functionality of the software allows companies to organize the creation, signing of an EDS, storage, and exchange of primary documents with counterparties in electronic form. At the same time, documents are supported in a structured form and an arbitrary unstructured format.
Firmex VDR solution has many benefits in comparison to other digital solutions:
- Automation of all processes of work with contracts. Firmex data room, unlike other accounting and management systems, provides not only for the registration and storage of contracts but also for managing the processes of their preparation, approval, and execution.
- Comfort while working with contracts is ensured by a convenient user interface. All data is divided into logical groups. Finding the right contract, its properties, or economic indicator is not difficult. Each user receives only the information they need.
- Ease of use. To work with the system, you do not need to obtain specific knowledge, it is enough to have the skills to work with a personal computer and read the user manual. The help system of the program is written in a simple and understandable language.
- The program can be used both in small and large enterprises without any restrictions on industry specifics. The customer organization, depending on its needs and size, has the opportunity to choose the appropriate version of the program, which will provide optimal cost and functionality of the program.
- Service support. Firmex is constantly improving its product to expand the range of tasks solved with it, to ensure the highest reliability and comfort.