Simplify deal management with the best data rooms

software features

Data room is a great solution for small businesses and online entrepreneurs who need built-in, versatile functionality. In this article, we will consider the best software options to automate your deal management.

Top data room systems: how they help a business and what they are for?

Business development is accompanied by the need to monitor interaction with customers: someone needs to be reminded of payment for services, for whom prices must be updated, and someone needs to be given a discount. Manual management of these processes not only takes a lot of time and energy, but also slows down the business, reducing its efficiency, and hence profitability.

Many small businesses try to track deals and their status with an Excel sheet. When multiple people make changes, it becomes cumbersome and inconsistent. Obtaining information and reports from the deal status also becomes a manual process. With virtual data room software deal management pipeline helps you get complete insights into your deals at different stages – you can quickly view the number of deals at each stage, sort and filter by the expected close date, and make smart decisions to guide actions and help move them up the trading ladder.

The main goal of implementing a data room system is to “manage customer relationships”. This means that you are creating a single ecosystem that will be responsible for:

  • the attraction of new clients;
  • development of existing ones;
  • turning neutral buyers into loyal ones;
  • formation of business partners from regular customers.

Such digital tools store the entire history of interaction with potential and existing customers – from the first visit to the website and activity on it to the exact time when the client decided to conclude a transaction.

In our rating of the best data rooms, we have chosen the most functional, but at the same time easy to learn and convenient, and therefore popular systems, including those that can be used for free. So, there are the following options:

  • Intralinks
  • Ansarada
  • Securedocs
  • Drooms
  • Smartroom
  • CapLinked
  • Sharefile

What is the value of using a deal management data room?

Data Room is a cloud-based SaaS platform containing marketing and sales management functions along with online productivity tools.

  • All requests from contact forms on the site will be collected in one place – this reduces the likelihood of losing an order or customer data.
  • Deal cards will contain all information related to the order – description, requirements, files. You can update them as you work.
  • You can track the status of deals by creating your stages of work and having complete freedom to change them.
  • Since all applications are collected in your account, there is no need to connect to third-party services, which are often paid.
  • Organizing deals in a data room will help you easily create periodic reports to predict future deals and evaluate the effectiveness of current marketing tactics.
  • The software will also allow you to keep track of your team’s work on ticket processing speed.

Submitting the contact form automatically creates a deal in the selected funnel as a card. You can add comments, a description, the amount of expected profit, tags, and a name to it. Deal cards can be moved between columns within the same funnel, thereby changing their status. All card activities will be displayed in the history, allowing you to track all interactions with the client.