DocSend Virtual Data Room Review

With the increase in remote working formats, there is also an increased need for digital tools that help companies arrange their content and collaborate seamlessly with others. This article will review the functionality of the DocSend data room as a perfect alternative for secure business collaboration. 

DocSend: where to use it?

Sales reps only spend about 34% of their time selling. Yet, shockingly, more than half of their time is spent on administrative tasks. However, these tasks, such as writing emails, entering data, scheduling appointments, or prospecting, can be easily automated using common and inexpensive sales software tools. That’s why modern companies are looking for innovative digital software tools to increase business deals productivity. 

In this case, DocSend is the right choice. It is a centralized content management software with tracking and presentation tools to help companies engage with customers and contractors more efficiently. The software enables project teams to choose the right time and way to start a conversation with the best prospects. The software ensures secure document sharing and tracking tools, making it easy for organizations to exchange business-critical information. It enables users to share mission-critical documents and easily create modern data rooms.

DocSend allows companies to share business-critical documents and get real-time, actionable feedback easily. Start-up founders, investors, executives, and business development professionals can create sustainable business partnerships thanks to the security and control of DocSend. Over 17,000 customers of all sizes use this data room provider today.

The principles of the software functionality

Let’s consider the stages of working with DocSend data room software when exchanging documents between counterparties:

  • An employee of one of the organizations forms a document.
  • Then the employee must sign it with his electronic signature and send it to the recipient through the data room system.
  • After reading the document, the employee of the addressee company affixes his ES, after which the first company will receive a notification. You can proceed with the actions described in the document: start shipping goods, transfer payments, etc. The recipient can also reject the document if it needs to be corrected.

One of the main advantages of the DocSend software solution is a significant reduction in printing costs (spending on paper, office equipment, and consumables for printers), postage, and storage of documents. You can completely abandon paper documents if this does not contradict the current legislation (there are certain types of documents that you must have in paper form). Using only digital documents will avoid duplication of information on different media, ensure reliable data storage, and prevent data leakage.

Equally important is saving time. If companies that exchange documents use DocSend data room, the document transfer process will take only a few minutes. And it does not matter where the documentation is sent – to a neighboring office or another city. The terms for creating, coordinating, and approving documents are reduced significantly, and in case of errors, it will also be possible to obtain a corrective document quickly and easily. In addition, introducing the data room allows you to use your employees’ time much more efficiently. There is no need for physical transfer of paper documents to company employees, and the processes of making decisions on documents and bringing these decisions to the organization’s employees will be accelerated many times over.