Client portals are virtual spaces a business shares with clients. Within a portal’s virtual walls, digital files can be stored, organized, and shared as needed between a business and their clients. This not only makes it easier to share important information but for a business to provide services to their clients.

Though client portals are becoming more popular, not every business puts enough thought into their client portal design. Just as you would put resources into the design of any physical space within your business, virtual spaces like portals deserve the same approach. Here’s how to design a client portal that will impress.

The Science Behind Client Portal Design 

Branding your business is important. While marketing experts will tell you that branding is more about the customer experience, don’t make the mistake of assuming a company’s visual representation no longer matters. Making sure that online spaces, including client portals, are visually branded is important to both your reputation and bottom line.

Research shows that when it comes to online spaces, visitors form an impression of your brand in just 0.05 seconds. Anything less than a great first impression could push clients to explore similar services offered by your competition.

A great custom client portal design can help you impress and retain clients. There are several elements you should take into consideration when designing your virtual space, including:

Logo 

Your client portal should always display your logo. Logos are the most recognized piece of your visual brand and can help clients feel comfortable using a portal, especially if they believe certain client portal myths. A portal without visual branding elements can feel like a cold and separate space while a branded portal simply feels like an extension of a company’s physical space. 

Colors

If you’re not sure where to start when it comes to client portal design, focus on your branding colors. Using a signature brand color can increase brand recognition by 80%.

Font 

Does your portal allow you to customize its font? If so, make sure you’re using one that matches your business. A fun and whimsical font may be appropriate for a children’s photographer but could come off as unprofessional for an accountant.

Voice 

The voice used in your content is a part of your brand. Every business should have its own, dependent on its industry, products/services, and target audience. Just make sure that the voice used in your portal’s content matches what clients are already used to from your website, newsletter, and social media. 

When it comes to strong client portal design, remember that consistent presentation of a brand can increase a company’s revenue by 33%. In other words, it’s certainly worth taking the time to appropriately design your portal based on client needs and brand expectations.

How Onehub Can Help 

Onehub offers a variety of business solutions, including client portals. We also offer the ability to customize workspaces and portals. Here are a few options you’ll come across when designing your company portal.

Logos and colors 

Onehub allows you to perfectly match colors to create a visually seamless experience. Your logo is the most recognizable visual of your brand. Let it serve as a welcoming symbol in your portal.

Branded emails

Automatic communication is a favored feature in portals. Inform clients of updates with branded emails that are professional and trustworthy.

White label 

We’ll help you create a custom portal but we don’t need to take any credit for it. With our white label feature, you can remove all Onehub markings and let your brand be the star of your virtual space.

Custom domain 

Phishing scams are on the rise and clients may be wary to input personal information into a page that looks different than those on your website. A custom domain will assure them all is well.

Dashboards 

Over 60% of consumers stop purchasing from a brand if they feel their experience isn’t personalized. Our portals include dashboards that allow you to put up welcoming messages that start the user experience off on the right foot. With a personalized experience, you can boost business in several ways. 

Ready to Design the Perfect Portal?

A recent user experience survey found that by 2020, user experience will have overtaken price and product as key brand differentiators. The time to create a flawless user experience is now.

With a visually appealing client portal, you can quickly build trust with clients as you create an experience that puts you a step above the competition.

Reach out to Onehub to set up a free trial and see how we can help you create a winning client portal design.

We’re excited to announce the launch of the new Onehub iOS app! We’ve spent most of the year rebuilding the app from the ground up to make it look, feel, and work even better than before. The new Onehub for iOS is faster, easier-to-use, completely redesigned, and packed with new features.

With the redesigned Onehub app you can be as productive on-the-go as you would be in the office. The new app offers the essential features you require and expect from Onehub. Now you can easily preview files directly on your devices, upload files directly to Onehub from other installed apps, open files in other installed apps, and so much more! Here’s what else the new app can do for you:

• Data Room indexing and reordering
• View and access your secure Workspaces
• Invite new users to your Workspaces, folders, and files
• Send secure links to your folders & files
• View user activity
• Wirelessly print files

The new Onehub app now also supports the newest iOS features and devices, for a beautiful and seamless experience. These new features include:

• Face ID & Touch ID for enhanced security of your files
• High resolution thumbnails
• Dark Mode

We hope these changes and updates help you be unbelievably productive anytime, anywhere. For questions or help with the new app, reach out to our support team support@onehub.com.

Download the new app today from the App Store!

Working from home has become the “new normal” for many business owners and their employees during the COVID-19 pandemic. Yet businesses have found new ways to share work without slowing down productivity through file sharing services. 

While cloud based file sharing services provide easy and convenient access to work-related documents for employees anytime and anywhere, that’s not to say there isn’t a level of risk that comes along with the practice.

Finding a secure file sharing service doesn’t always happen on the first try. But having one central place to share, edit, manage, and complete projects is crucial for small and large businesses alike, especially those with no return-date to the office just yet. If you’re looking for a secure file sharing service, consider the following five important criteria to look for.

1. Security requirements 

A 2020 Data Risk and Security Report revealed that organizations named data security as their top IT priority in 2020. And for good reason. America experiences a hacker attack every 39 seconds.

Security should be one of the top criterion to research when shopping for a file sharing service. You should be greeted with transparency and plenty of security features, including but not limited to:

• Role-based permissions (not every team member needs to access every document)
• Custom session timeouts (prevent curious passersby from accessing company data)
• Revoke access (prevent employees with ill-intent from doing irreparable harm by revoking their document privileges)

2. Collaboration 

Collaborating easily and efficiently is key to the day-to-day operations of your business. Difficult collaboration will only add to the frustrations your employees may be feeling when working from home, especially if they’re simultaneously caring for their family. In addition, research shows that improving collaboration can help raise productivity as much as 25 percent.

Look for services that not only offer plenty of collaborative features but are always developing new ways for teams to work together, whether they’re in the same office or in different countries. 

When searching for a secure file sharing service, the following collaborative features are a must:

• Comments (share thoughts in any file or folder without having to leave the platform)
• Workflow tasks (make sure everyone knows the next step without the back and forth)
• Notifications (know exactly when a task has been completed and avoid “checking-in burnout”)

3. Mobile functionality 

It is not worth having a file sharing service available to your employees if they cannot access it on different operating platforms or mobile devices. Keep in mind that in a work from home setup, employees might not be sitting at a desk for a certain number of hours as they would in a traditional office setting.

Your employees will appreciate the ability to edit and share their company files on mobile devices – at a minimum, Apple, Android, iOS, and Windows Phone. Before choosing a provider, see if they offer an app for better mobile access.

But working on mobile devices, especially if they’re using several different networks, comes with risk. Providers that offer secure links and high levels of encryption to keep your company data safe are always worth consideration. 

4. Synchronization 

What makes file sharing so convenient is having the ability to move files between a file-sharing environment and local resources, such as a mobile device or desktop, in a matter of seconds. 

As long as security measures are in place, a great file sharing service should allow multiple team members, multiple devices, and countless documents the ability to synchronize in real time.

Nearly half of 1,000 surveyed full-time U.S. workers admitted they have difficulty finding documents when they need them. By finding a file sharing service that makes it easy to move, organize, and search for documents, you can remain confident that a team working from home can get just as much, if not more, done in a day.

5. Auditing abilities 

While you want to make sure your team is remaining productive, you don’t want to spend a substantial amount of your day checking up on which documents were downloaded or uploaded, who commented on a file, or who updated a list of tasks.

A secure file sharing service with auditing abilities will help you check in without being invasive or inconvenienced. Audit trails will also help you protect client data by confirming only permitted employees are privy to confidential information.

What are the signs of the wrong service?

Maybe you’re already using a file sharing service. Does it tick off all the boxes or is it lacking in several features?

There are many signs to look out for, all which point to using the wrong file sharing service. If you’re worried about loss of control over your data, continuously experiencing glitches, or spending a large portion of your day calming down frustrated employees, you’re likely with a less than superior provider. 

Your file sharing service should give you the ability to communicate with your employees, your clients, and all members of your professional circle securely and seamlessly. If it does not, it’s time to shop.  

Whether you’re looking for a secure file sharing for the first time or have come to terms that it’s time to find a new provider, keep your team informed that you’re looking for a new service and, above all, maintain transparency with your clients. It may take a little effort to train your employees and adjust to the new system, but in the end it will secure your company’s work and client base.

Reach out to Onehub to learn more about their features and what makes them a secure file sharing option.

In light of current events, working from home has become the new norm for many businesses. This reality comes with new challenges, including how to help employees collaborate with their co-workers in the same ways that they were comfortable with in a traditional work environment. 

Even though work trends are changing, there is still opportunity for remote team collaboration and unity amongst co-workers. It’s important that this opportunity not go to waste.

On average, 39% of workers think their team members at work do not collaborate enough and 97% of failed work-place projects can be traced back to a lack of collaboration, making the art of connecting with team members more essential than ever. 

Unfortunately, with the new reality of working from home, collaboration may feel like more of a challenge than ever. That’s why we put together 5 unique remote team collaboration ideas to help you bridge the gap between employees and avoid a decrease in production levels.

1. Video Conferencing Platforms

Even though this seems like the classic response for how to stay in touch during work from home, there is still opportunity to connect with co-workers at the next level on these platforms. 

Holding meetings and discussing projects via video conferencing is a great way to keep productivity and accountability in check. But don’t be afraid to have a little fun.

Hold a video lunch hour where employees can just catch up. Host theme days, like Crazy Hat Day or Bring Your Pet to Work Day (all virtual of course). Working from home can be isolating and taking the time to put a bit more excitement into typically mundane video calls can make all the difference.

2. Progress Check Points

This remote team collaboration idea might not work for every industry. But if you have team members working towards similar goals, consider adding check points with rewards. 

For example, if you have a team working towards putting together a new marketing campaign, set up milestones ahead of time. As the team completes them, surprise them with small rewards. Send out ice cream coupons or, if you’re on schedule, give them the next sunny afternoon off. 

Working from home can cause employees to lose motivation. Simple rewards boost motivation and make team members feel appreciated, especially when they’re juggling additional home responsibilities with work.

3. Handwritten Letters 

It may sound a bit old fashioned, but handwritten letters can go a long way when team members are working from home. As an employer, you can simply send out thoughts of well wishes to your team members for a mental boost, along with a working agenda for the next week or so.

Or, if your team is oversized, consider starting an optional pen pal program. This may be especially beneficial to team workers who live alone and are looking for an additional outlet to connect with others. 

Even though writing letters or sending cards can be a time consuming task, a deeper connection can be made, whether you’re discussing work-related topics or not.

4. Start a Facebook Group 

Chances are, you’re letting your team work on individual schedules best suited for their unique situations. For example, if you have employees who are suddenly working from home while also having to homeschool several children, asking them to stay on a traditional schedule may be next to impossible. 

A great way to share information that employees can access on their own time is through social media. There are a few options to consider but starting a Facebook Group will likely give you the options you’re looking for while connecting as many team members as possible (not everyone uses social media, despite its popularity – avoid making it a requirement). 

Share updates in the group (send out in email form as well) and get the conversation going. Let employees have a little more fun in a relaxed virtual environment without losing focus of company policies and project goals.

5. Make Decisions Together

The decisions you make as a business owner will affect employees more than ever if they’re working from home. Without the comforts, both physical and mental, a traditional office provides, employees can quickly lose their connection with their fellow employees and career path.

Now, more than ever, involve your employees in decision making, whether it’s what video conferencing tool to choose from, what types of rewards they would love to earn, or how they want to share files safely while working on their own devices.

Many of us found ourselves working from home with little time to prepare. Let your employees know you want to navigate these uncharted waters together.

Remote Team Collaboration for the Win

Working from home presents new challenges to workers, as some may struggle from feeling disconnected from both their career and their co-workers. 

Even though collaborating virtually presents new challenges, there are many ways to establish rapport with team-members in unique and engaging ways, including remote team collaboration. Whether it is a handwritten note or a pajama-themed morning video conference, finding ways to stay connected is the best way to keep productivity and morale in check.

Need a way to safely share files when working from home? Schedule a free trial with Onehub to see how you can boost your productivity in minutes.

Chances are, you’re an expert at conducting business deals for your company. After all, those deals are what keep your business going.

But do you know how to conduct a business deal from home?

Knowing how to bring in new clients and revenue from deals finalized in places other than your office is important. The first half of 2020 has shown us we can find ourselves working from our dining room tables with little warning.

Luckily, a virtual data room can make it all possible. 

For those more comfortable in physical data rooms, you should know there are several benefits to using a virtual space instead. Making the switch to a virtual data room can help your company:

• Reduce overhead as you convert paper documents to digital format. You can also skip the chaos and often high costs that come along with coordinating meetings in physical data rooms.
• Gain better control over data through heightened security measures like audit trails, role-based permissions, and custom session timeouts.
• Improve customer service by allowing customers to access documents, including proposals and project updates, on their time and from nearly any device.

Essentially, virtual data rooms can help you and your team complete business deals in a more efficient and comfortable manner for all parties, without sacrificing professionality. 

Read through this step-by-step guide to securing business deals in a virtual data room to help you make the switch.

Step 1: Choose a provider based on your unique needs

You’ll find there are plenty of options when it comes to finding a virtual data room provider. As you browse through your choices, know that features and cost structures can vary greatly.

However, don’t assume that the most expensive software is the best or that the least expensive won’t be able to keep up with your needs. The best way to choose a provider is to first write down the exact features you’re looking for and what you have to work with as far as a budget.

How much storage does your company need? 

What collaboration features will your clients expect? 

Are there any other types of software you need to integrate with? 

Knowing exactly what you need a virtual data room to do for you is the first step in completing a successful business deal within one.

Step 2: Set up your virtual data room

Now that you’ve chosen your provider, it’s time to set up your data room. Just as you would make sure you have everything you need to present, discuss, tweak, and finalize a business deal in a physical data room, you’ll want to make sure you’re set up for success in your virtual space as well.

It’s impossible to give step-by-step directions as every setup is a bit different but you can start by adding any files you need and organizing them as desired. These may include:

• Proposals
• Contracts
• Client-specific documents
• Legal documents

Next, add permissions and security features for files, keeping in mind that not every employee or team member of a customer requires access to sensitive data. 

Finally, invite your customers to join the data room. Make sure your customer understands how to collaborate and communicate through the virtual space so they can enjoy the full benefits of working within one.

Step 3: Complete the business deal

Now’s your time to shine! You may be surprised as to just how similar completing a business deal in a virtual data room is to completing one in person. 

You may also find that your customers enjoy the process more. They can explore and review the terms of the deal on their time, feel free to discuss as a team without any outside pressure, and prepare and produce a counteroffer if needed. 

Virtual data rooms make it easier for all parties to let their guard down a bit while still feeling like they have control.

Look Out for Potential Pitfalls

Not all virtual data rooms are created equal. Here are a few potential pitfalls to look out for when making the switch.

• Poor security – Virtual data rooms are designed to be secure. But not all have the same level of security. When choosing a provider, take the time to explore the security features they offer, along with what they do on their end to keep your stored data safe. For example, Onehub secures data with bank-level encryption both in transit and at rest.
• Minimal features – Your virtual data room should be an extension of your business, not an awkward outside tool. A great virtual data room provider will allow you to customize with logos and colors, brand emails and sign in pages, and use custom domains that make customers feel secure.  
• No free trial – If you’re using a virtual data room for the first time, you may want to try a few out before committing. Free trials will allow you to get your feet wet without the commitment. You can try Onehub’s free trial here. 

Ready to Tackle a Virtual Business Deal?

Now that you understand the benefits, initial steps, and potential pitfalls to look out for, you’re all set to conduct your next business deal in a virtual data room.

Whether it’s out of convenience or necessity, having this ability in your professional wheelhouse is sure to serve both you and your customers.

Client portals are a secure method for communicating and collaborating with clients. But despite the many benefits that come along with using client portal software, many business owners are hesitant to make the switch.

Unfortunately, there are many myths surrounding client portals, cloud storage, and online file sharing. Whether you’ve been considering making client portal software part of your process for a while now or are just starting to wonder if its an option for your company, these myths can make it difficult to decipher between fact and fiction.

Luckily, we’ve done the hard work for you and busted some of the top myths surrounding client portals. Here’s what we found.

Myth #1: Client portals only benefit a few industries.

We hear this myth quite often.

My business won’t benefit from client portals.

We won’t say that client portals are for every business or that every business is ready to add them to their process. Instead, we like to point out the following benefits of cloud storage and customer portal software. 

• Client portals save resources – Client portals can save your business time and money. Instead of printing invoices, placing and sealing them in envelopes, and mailing them out, you can simply upload them to a customer’s online portal. The same can be said for any document. 
• Your data is secure within a client portal – We hear you. Can’t we just email invoices, contracts, and other documents to save time and money? You could. But email leaves your data vulnerable. When you share documents via a portal, you can rest assured that only the intended party will be able to view them (check out our security features, including role-based permissions and two-factor authentication).
• Productivity increases with client portals – In some industries, we’ve watched the implementation of client portals free up several hours in their work days. The ability to do more in less time can give your company a competitive edge. You can focus more on marketing, adding to your product line, or improving your customer service. 

So if your company would like to save resources, secure its data, and increase productivity, customer portals can help you accomplish all of these goals in record time, no matter the industry you’re in.

Myth #2: Customers will reject client portals or won’t understand how to use them.

My customers are too busy.

My customers are too old.

My customers are fine with how things are.

We don’t like to think of customers as excuses. Instead, we like to think of them as the inspiration behind switching to client portals.

My customers deserve faster access to their documents.

My customers deserve a great customer experience with a portal that’s user-friendly.

My customers will appreciate a company that utilizes technology for faster and better results.

It may surprise you to know that 77% of consumers have used a self-service portal in the past while only 12% of Americans say they haven’t been able to find the information they need in self-service portals.

The truth is that not only are your customers ready for client portals, they may even expect them.

Myth #3: Client portals take too much time to set up and build into an existing process.

We can’t speak for all client portals but when it comes to Onehub, you have the ability to create a secure client portal with the exact features you want without reinventing the wheel.

In other words, it’s easier than you think and takes less time than you can imagine.

Once you’ve set up for your free Onehub trial, it only takes a few clicks to get a portal started. 

From there, you can upload multiple files at once, all using a simple drag-and-drop method.

After your files have been uploaded, you can organize them according to your current processes, making it easy for employees and customers alike to navigate.

To keep your files secure, you can assign permissions as needed and then track who’s accessed certain files using our activity tracking feature.

You can then customize each portal by adding your company’s logo and brand colors.

If you get started today, your portals could be ready for client use by tomorrow.

Myth #4: Client portals are a security risk. 

Imagine a room with a single lock. Within this room are different stacks of papers. Each stack belongs to one client. And when a client needs to access their documents, they can enter the room using a universal key. 

If you’re currently sharing documents through email or other outdated methods, this is an analogy for your current security level. You may trust each client to stick with their own stack of papers, but once enough universal keys get out, it becomes easier for those keys to get into the wrong hands.

Now imagine a room lined with lockers. Each client has an assigned locker with a unique lock combination and the room itself is guarded by 24/7 security detail. This setup is a great representation of client portals. Not only is each clients’ documents secure from each other, they’re also more secure from hackers.

When choosing a client portal service, look into their security measures. Not all are equal. At Onehub, our portals include bank-level encryption in transit and at rest so that only those with permission can access your data.

Client Portal Software Myths…Busted!

Have these client portal myths been holding you back from implementing portals into your process? The truth is that client portal software boosts security, is simple to set up, can be used with ease by customers, and can help nearly any business.
If you’re ready to learn more, reach out to one of our team members for a free demo of our client portal services.

Data security has always been a concern for most businesses, both in house and when working remotely. But with more employees working from home than ever before, secure online file sharing and storage is non-negotiable.

How is your business currently sharing consumer, employee, and private data? While there are many basic tools you can use, not all come with the same level of security. Using consumer-level file sharing tools can not only be dangerous to your business (e.g. data leaks), it can also slow down production (e.g. misplaced files).

Even if you already have a business-grade file sharing system, are employees working with or around the system? According to a report by Shred-It, nearly half of business leaders reported human error as the main cause of data breaches. If you’re serious about keeping your private, client, and employee data safe, compliance with online file sharing and storage is crucial.

In these uncertain times, we’d like to introduce you to a file sharing system that can keep your team working as normal and without the risks of consumer-level systems. Onehub is a business focused file-sharing system that allows remote teams to upload, customize, secure, and share business data and files with confidence. Take a look at our five top tips and best practices for using an integrated system like Onehub.

1. Never mix business and pleasure

Unless you have the budget and opportunity to send your workers home with “work-only” devices, they’re likely using their own phones, tablets, laptops, and computers to work remotely. Even if they are using company devices, they’re on their own wi-fi networks. 

Instruct employees to follow specific work-from-home protocol, which should involve only working on secured networks, rather than an open network at the local coffee shop. And if it’s been suggested that employees access company servers via a VPN (Virtual Private Network), you should be aware of potential pitfalls with this practice.

For example, having employees login through a VPN can leave several holes in your security. VPNs can also be slow and may not be able to handle a heavy volume of logins at once. Having employees work within the cloud through a secure and protected network offers improved security without compromising productivity.

Employees should also be instructed to store business documents away from personal documents on their device. A great way to ensure sensitive documents never end up in the wrong folder is to create, edit, and save them in the cloud via Onehub.

2. Document structure and enforce it

Making sure that your users use the system is a very important aspect of overall security. Outline how files should be named, how many file layers should be used, how to classify information, etc. Make this outline available to all and enforce it regularly, or it will become meaningless. Regularly clean data and check in with changes in use. If you overcomplicated this system, users are more likely to find workarounds that are not secure for you.

3. Integrate all systems

You may think you could just use a system that allows for file sharing, but it is important to have a system that integrates all communication, such as email, and keeps it safe. Onehub integrates with Microsoft Office Online and Google Drive.

4. Train your users

Make sure all users not only know that they need to use the secure system, but also why. Knowing which files are sensitive and why will help keep users from making a mistake and sharing a file to an outside party. If you’re going to pay to have an integrated system, it is important that your employees know to use it consistently. Often when traveling, a user will need to work from his or her phone. This could be a risk for data security, but with Onehub, employees will be able to access data from their phones. They can also share a “preview” with customers or potential customers.

5. Aim for ease of use

Implementing a new system, or cleaning up an existing workflow, can take time. But ultimately, it leads to an easier experience for everyone. Aim to make the process as easy an intuitive as possible. Onehub was voted the #1 online file sharing service in 2020 and was praised for its intuitive feel. 

Conclusion

Email is the most common form of business communication, but many files will need to be referenced often and need organization, and others will be too large to share via email. It is important to pick a system that complements your current forms of communication and does not overcomplicate them. Onehub integrates with Microsoft Office Online, or Google Drive. 

Using documented systems to organize and locate files is a must as well. Keeping them enforced will make sure that they remain useful. Employees will be much less likely to find a workaround if they understand the organizational system easily. Onehub uses color customization to make navigation easy, and to provide the customer with the best possible, and branded, cloud sharing experience.

In the past two years, the professional marketplace has experienced a marked increase in mergers and acquisitions, or the consolidation of companies or assets through a financial transaction.

In fact, over $2 trillion was spent in just the first few months of 2018 on mergers and acquisitions (M&A). However, whether an M&A is successful or not depends on a variety of factors.

Why Do M&As Fall Through?

According to Forbes, the biggest cause of most M&A failures is a lack of execution. This includes pre-contract dealings involving negotiations and due diligence, legal proceedings, and integration. 

Failed deals happen because of poor communication, shoddy research, and lack of transparency between parties. But with adequate preparation and the right tools, these obstacles are avoidable.

One growing trend is the use of digital tools to streamline the M&A process. Deloitte’s 2020 Mergers & Acquisitions Trends report reveals that survey respondents felt “the use of digital tools and accelerators” was the #1 solution for speeding up their due diligence processes. 

Respondents believe that digital tools help to provide additional insights, minimized risks and uncertainties through additional analysis, assisted in planning for post-close operations, and increased overall speed to close.

Virtual data rooms are the perfect example of a digital tool that can offer these advantages and more in M&As.

How Virtual Data Rooms Streamline the M&A Process

Most, if not all, tasks that formerly would have taken place in a physical board room or office space can now take place in virtual data rooms, including document sharing, signing, and auditing. Here are five specific benefits virtual data rooms bring to the M&A process.

1. Improved document organization

As discovered through Deloitte’s report, the most highly valued benefit of digital tools by surveyed executives was access to more, and better, information. 

Traditional M&A transactions involve encyclopedia-sized binders of information being exchanged between parties. In a virtual data room, this information is organized and indexed, making it easily accessible and shareable. In addition, virtual data room systems such as Onehub offer a search feature, saving hours of time when looking for a particular keyword or document.

2. Increased user security

Almost equally valued by surveyed executives was the decreased risk and uncertainty offered by digital tools. Virtual data rooms promote confidence with their security features. 

For example, users require special authorization to be able to view, download, print, or share certain documents, depending on what level of access they have been granted, and in some systems, document interaction history can be tracked. As a special feature, companies can even require a user to virtually sign a non-disclosure agreement (NDA) before even viewing a document.

3. Safer document storage

Virtual data rooms reduce or eliminate many points of risk where document security might otherwise be compromised. No locked file cabinets are necessary, with keys to keep track of or codes to remember. No need to make backups of hard copies to store offsite in case of fire or flood. 

In conventional file sharing, a fax or an email might be read by the wrong person. Certified mail can be lost, and documents can be misplaced. These scenarios are much less likely in a virtual data room system.

4. Integration

Executives also value the way digital tools help plan for integration. Virtual data rooms should be compatible with common types of programs used by companies, such as collaborative document composition and video conferencing. This assists in every state of an M&A, from initial discussions to after the merge has taken place.

5. Efficiency

Digital tools tend to increase the speed at which a deal closes. Conventional models require long in-person meetings, certified documents mailed, signed, and returned, and executives traveling to meet with each other. 

Virtual data rooms eliminate most – and in some cases, all – need for these things. And of course, by eliminating the need for in-person meetings, virtual data rooms enable international M&A deals to close with few to no travel expenses.

Onehub and M&As

Onehub offers the features and benefits executives are looking for when it comes to finding the best virtual data room for mergers and acquisitions. 

To see just how simple M&A deals can be with the right virtual data room, schedule a free Onehub trial. After exploring the solutions the platform offers, you’re sure to see how virtual data rooms can create a smooth and seamless transaction while simultaneously improving security for any M&A.