How E-Board Meetings Can Be More Effective and Collaborative than Traditional Board Meetings

It would seem that for a business meeting, the direct presence of all participants in one physical space is necessary. But thanks to modern virtual technologies, online board collaboration is possible. This article will investigate the benefits of e-board meetings under the traditional format.

Board software for online meeting-modern business opportunities

The shortage of working hours for managers is currently one of the important problems of management. Management activities at the enterprise under consideration are carried out using documents simultaneously the organization’s source and result. Traditional document management in paper form has several disadvantages and significantly takes working hours. Managerial activities firmly include new, modern technologies, including electronic documents. The organization of the enterprise is increasingly related to such phenomena as the database and data bank, server, site, and portal, with the need to combine the usual paper documents and documents obtained using computers.

On the other hand, during the period of the Locdowns associated with pandemia, the popularity of video communications was rapidly increasing. After an unscheduled distance is experienced, we look at work processes differently. Remote work, like any other, requires constant coordination of general planned and unscheduled discussions. An online board meeting is a type of management activity in which many participants use the Internet to discuss decision-making on proposed issues.

In such conditions, companies should implement innovative digital solutions to set up work processes competently. Board management software is one such innovation. It is a cloud-based platform that ensures vast capabilities for executive bodies in organizing their managerial activity. On the board portal, we communicate with the help of built-in chat tools, plan events on the calendar, and work with the tasks. When using any working tool, it is necessary to distinguish and comply with the rules that systematize and discipline communication in the team.

Why do e-board meeting are more effective?

The specialized functionality of the board software is the possibility of organizing and conducting various kinds of meetings at which the agenda of the meeting is underway, tasks are set based on the results of the meeting, and based on the results of the completion of the tasks, the responsible contractor submits a report on their implementation to the system. Moreover, the system has developed relevant reports to control the execution of the tasks assigned at the meeting.

So, according to https://nerdbot.com/2022/07/26/what-are-the-top-5-board-portals-in-the-market-2022/, the board meeting software automates all business operations during the board meeting life cycle by ensuring the following features:

  • systematization and standardization of document management of the company (processes and regulations of work laid down in the system are accepted, or procedures are refined following the regulations available in the organization);
  • the creation of a common information space and the implementation of all processes in a single system;
  • compliance with declared regulations for processing documents with the real state of affairs;
  • organization of legally significant electronic document management with counterparties;
  • ensuring automatic control over the timely execution of documents, instructions, and instructions of the management, operational receipt of information about the state of execution;
  • organization of quick search for documents on attributes or context. The possibility of searching for the situation;
  • development of the agenda, determination of participants, reservation of the premises, approval of the agenda, time and place of a meeting with participants, and sending out electronic letters with an invitation to participate in the meeting to employees of external organizations.

Best Data Rooms for Startups & Enterprises

The fact is that you will need to draw a thorough comparison of data rooms before deciding on one VDR or another. What criteria to check when looking for a reliable supplier? Let us decipher the whole VDR problem and show you how to protect your data with the best data rooms for startups.

Why Do Virtual Data Rooms Used for Startups?

Over the past years, virtual data rooms for startups and enterprises have undergone a remarkable evolution in terms of applications and features. Such services are used for corporate transactions (for example, mergers and acquisitions), auditing, confidential business communications, etc.

If a company generates data, it can be integrated and used to provide real-time insights that are useful to the business. An organization operating in multiple regions can get a single view of all operations to understand what is working and what is not. A single view of the business makes it easier to understand cause and effect, allowing organizations to make real-time course corrections and minimize risk.

Virtual data rooms are increasingly being used by financial, marketing, legal, and HR organizations to store documents or critical business information. The advent of blockchain gives companies the opportunity to improve security, as well as access to:

  • Polls.
  • Branding.
  • Preparation and post-processing of meetings.
  • Reports.
  • Record.
  • Notifications.
  • Registration for events.
  • Data import and integration.
  • Videoconferencing.

You can think of any virtual data room – what we often call a VDR – as an online data bank. With it, you can forget about storing papers in your office with several employees responsible for their safety and availability at any time. We can say that a virtual data room is a kind of extranet, so it is not public and does not only work within your company, like an intranet. The great difference here is information security and general digital security, encryption, and protection with a full audit trail.

The best data room for startups makes it possible to move large files, which is not allowed at all by other exchangers, e-mail. Any documents so that external mech links are checked by the antivirus plan. You will have a single intuitive interface on all devices. Also, to start using the development, first of all, you do not need an additional era, funds, or effort.

A List of the Best Data Rooms for Startups and Enterprises

1. SecureDocs.

SecreDocs provides electronic document management solutions to small, medium, and large companies in many vertical industries. The goal is to reduce costs by automating tasks and increasing productivity.

2. Intralinks.

There is support for “trusted processes,” which allows you to back up files, scan them for viruses, and the like in a protected state. Access to the program settings requires entering a master password.

3. CapLinked Inc.

Caplinked provides full document management capabilities, including version control and file history, metadata, scanning, workflow, search, and more.

4. Citrix.

Citrix allows you to store all your files electronically in one place. The system has many features that make it very easy to get any file inside the system (in particular, client files)

5. EthosData.

It has developed the solution to make working with documents as safe as possible and protected from all types of leaks, including those provoked by employees through a photo of the screen and/or printing of documents.

8 Must-Have Features of the Best Data Room Software & Service Providers

Do you know about brand-new technologies? Might you want to make changes that will animate every functioning daily practice? Assuming the response is positive, you need to follow this data that we have arranged for you about virtual data room, data room, business management software, and software highlights. Is it true or not that you are prepared to make your most memorable activities?

What is a data room?

Quite possibly, the most adaptable and adequate tool that can be appropriate for each enterprise is virtual data room software. One of the most safeguarded spots can be utilized in each agreement that representatives will use during their daily practice. Virtual data room software    https://dataroom-providers.org/due-diligence-virtual-data-room/ helps remote work as it needs a steady web association and the readiness to work.

Three fundamental objectives for utilizing VDR:

  • functional – functional admittance to data over contact with the client in the deals and administration process.
  • logical – an audit of information that working together portrays the activities of the client and the organization, getting new information, ends, and proposals.
  • cooperation – the client is straightforwardly engaged with the organization’s activities and impacts item improvement, creation, and administration cycles.

The usefulness of VDR covers showcasing, deals, and administration, which compares to the phases of drawing in a client, the actual demonstration of making an exchange, and all resources where an undertaking communicates with a client.

Must-have data room highlights

Data room highlights are the fundamental qualities with which you guarantee the security of your business. They include:

  1. Bargain organization of the course of agreements and related reports and practical work with them (search, examination, altering, and so on). Completed exchanges can likewise be observed in the data room. 
  2. Meeting management. Association of arrangement and holding of board gatherings; development and dissemination of the convention; observing the execution of the choices of the gathering.
  3. Client relationship management. Keeping a brought-together data set of associations and contact people; keeping a background marked by gatherings and correspondence with clients; investigating deals viability and promoting influences. 
  4. Straightforward coordinated effort. Work in the data room is organized to guarantee straightforward communication with every client at all stages. This element enormously works with examining and anticipating client needs in the present and future.
  5. Readiness of business offers. In present-day data room suppliers, the capability of making business offers as fast as conceivable in light of different formats is executed. 
  6. Faculty management. The product permits you to control crafted by representatives and record supervisors who can stretch their exercises without much of a stretch.
  7. Development of revealing archives. Any data room software permits you to create and investigate different exercises. Because of the examination capability, in light of the got records, an arrangement is drawn up for the further work of the organization.
  8. The inquiry answer segment further develops client connection and permits you to find a speedy solution to your inquiry. VDR managers can tweak the permeability of inquiries for different clients as well as produce a FAQ area

Virtual data room software will not be difficult to have and sort out collaboration. Chiefs need to make extra room, set authorizations, transfer all records, check if everything works, and just welcome all members. A digital data room is a solid advanced platform where practically all basic information of business tasks is put away and handled.

5 Tips on How to Leverage the Data room technology in mergers and acquisitions

In recent years, the market has experienced a significant decline in the volume of mergers and acquisitions (M&A). The number of transactions has decreased by 37% since 2013, and their total value – 6%. This is explained not only by the internal problems in the CIS market, but also by the existing organization. Every step of an M&A agreement: finding a seller / buyer, valuing the company’s assets, finding financing and entering into a master agreement is costly.

M&A Problems

1. Time and money

Although wasting time is a problem through the M&A process, it has the greatest impact on the process.Small businesses have to bear particularly large expenses. According to a study by Firmex, 23% of respondents consider the search for buyers as the most valuable investment service. Thus, the company needs external assistance already in the first phase of the transaction.

The due diligence process is complicated by the stages associated with company assessment.Due Diligence is a procedure for drawing the most complete picture of an investment object, including an assessment of investment risk, a comprehensive assessment of the company’s activities, a comprehensive check of its financial condition and market position.

Companies now often make mistakes in their analysis of the counterparty’s results, as there is a significant possibility of fraudulent reporting or misinterpretation by auditors. In this case, the agreement can be entered into with large losses for one of the parties. To reduce such risks, the company spends huge amounts of money on the due diligence process, using the best process. However, their services are costly to the company. More than 50 million dollars (which is more than 60 million kroner) is distributed over 6 percent. That is, with an increase in the size of the company, these amounts can reach millions of dollars.

Due to the lack of automation, the stage of completing a transaction is also inefficient. It takes a lot of time to prepare a contract, check its terms and conditions.

Access to Foreign Companies

A characteristic feature of the market is its proximity to information. Most transactions in the CIS countries in the last 5 years have been domestic Small and medium-sized agreements are not carried out publicly, and the media receive information about a small share of the market volume. This means that market participants do not know either the name of the buyer or the transaction amount. Financing of transactions is often carried out by friendly banks, therefore it is not market-based.

Instability

The CIS market is not attractive for investment due to economic and political instability. Every year, foreign capital is less and less involved in mergers and acquisitions. In 2017, the volume of transactions for the acquisition of companies by foreign companies fell by 15% compared to 2016 and amounted to $ 15 billion.

Security

Companies’ reporting documents are now stored in electronic format, but there is still a significant threat of falsification and falsification of information. Attorneys, on behalf of the buyer, are required to perform additional checks to ensure the accuracy and completeness of the information provided. This can increase the cost of their services several times over. In addition, during the transaction, there is a threat to transfer control of confidential data to third parties. Companies are forced to pay significant sums to intermediaries to maintain non-public information.

Basic Problem Solving

We propose to create a blockchain-based platform that will connect buyers and sellers in the M&A market with organizations that finance these transactions. Potential counterparties are verified on the platform using multifactor authentication. It provides high reliability of the system and allows companies to communicate directly with each other. Thus, the platform gives them the opportunity to avoid high costs for the services of financial institutions, including investment banks, which are now engaged in connecting buyers and sellers in M&A transactions. Instead, when they register on the site, companies will pay a small fee to access the platform. It will vary depending on the type of agent: more for buyers and investors and less for sellers. This will reduce the burden on startups and small companies that typically come with a sales quote.

The blockchain-based platform solves not only the financing problem, but also time costs, since the list of published proposals in the system is sorted. Thanks to this, agents can choose industry, capitalization and other financial indicators for companies they are interested in. Participants have access to market analysis (growth, changes in nature and number of transactions) in a visualized form. This quickly increases the search for offers.

Another advantage of the platform is the ability for foreign agents who want to complete an M&A transaction to view the database of companies, which will allow them to store the financial performance of a potential partner and provide access to them. This significantly increases the agents’ trust in each other. The platform will increase the attractiveness of the market for foreign investment by reducing the influence of political factors on financial mechanisms.

To work with the data warehouse, it is proposed to introduce “virtual data rooms” (VDR) that operate on the blockchain at the due diligence stage. When you create such a save, all information will be synchronized on a series of blockchain blocks, making it impossible to modify files unilaterally. In order to make significant changes to the documents, it is necessary to agree with all network participants. VDRs record all the actions of their users. When using VDR, you can restrict access to certain documents that are only to be disclosed in the second stage of due diligence. Thus, we retain all the benefits of traditional DataRoom. At the same time, the maximum security of the data is achieved in VDR, which is a key aspect for successful due diligence.

In the final phase of the M&A transaction, companies form the terms of the main agreement, which specifies the amount required for financing. Incorporating a common ledger platform in the transaction process increases the possibility for buyers who need borrowed funds to take out short-term loans. When using equity and mixed financing, companies must have accurate data on the vdr pricing of their own shares. Since not all securities traded on the stock exchange can be evaluated correctly by an external observer, the parties need the help of a qualified player. This information provider may be NSD using Oracle technology.

At the sta sige signing an agreement on the transaction, an important advantage of the platform is the ability of the parties to enter into a smart contract. Thanks to full automation, electronic signatures and private keys, such a contract is more reliable than a traditional one. Despite the fact that the conclusion requires a large investment (from $ 7,000), this price pays off over time. A smart contract simplifies all procedures for signing and amending an agreement and reduces the time for the parties involved in an M&A transaction.

But blockchain technology is not a universal cure for all existing problems. In addition to the obvious benefits, there are also obstacles to implementation:

1. High project costs

Designers, programmers, managers are required to create a full-fledged platform.

2. Non-proliferation of technology

Despite the fact that large companies already work with blockchain technology, small startups practically do not use it. For the platform to work effectively, it is necessary to increase the popularity of the technology, to train business management, which requires additional investment.

3. Lack of legal regulation

In the world, there is still no blockchain regulation at the law level. The bills “On digital financial assets”, “On attracting investment through the use of investment platforms” and “On digital rights”, which are currently being considered, contain concepts that are not used in world practice, and the proposed approach does not match the details. of the blockchain. The lack of law enforcement practice in the near future calls into question their effectiveness.

Difference Between Horizontal and Vertical Merger

In modern business, it is not uncommon to meet the practice when two companies merge into one to use each other’s resources and thereby increase their productivity. When the merger takes place, the companies become one, sharing their employees, assets, trade secrets, and much more. But there are two types of mergers, vertical and horizontal, and although they both involve combining two companies into one, they have their differences, and in this article, we will outline them.

What is a horizontal merger?

A horizontal merger is a type of merger where companies in the same industry merge for no financial gain, this transaction has almost nothing to do with money directly. It is done to increase its competitiveness on the market, expanding its customer base and increasing its market share.

There are a lot of examples of horizontal mergers in the history of business, and to better understand how horizontal mergers work, we can consider an example. In the early 2000s, two banks – JP Morgan and Chase Manhattan Bank – merged their operations, after which they became one of the six largest banking organizations.

What is a vertical merger?

A vertical merger implies the integration of two companies that, although they operate in the same industry, but are involved in different services or products in the supply chain to eventually market their final product. This type of merger, as a rule, is carried out to improve the efficiency of the company and increase the profit of the buying company.

Such a transaction does not directly increase the competitiveness of the company but increases its importance and influence, which may later lead to a decrease in competitiveness.  

An example of a vertical merger could be a company in the automotive industry or any other industry. If an automobile manufacturing company could merge with the companies that provide individual parts for automobiles, it would be able to control the price that other companies set for this or that product. Thus, the creation of each car would bring him increased profits. In a vertical merger, the more companies an entrepreneur can join, the better.

The main difference between the horizontal and vertical merger

Below we outline the main difference between horizontal and vertical mergers based on the following criteria:

  • Value

A horizontal merger implies the merger of two or more companies that are involved in the same activity, and maybe earlier were even competitors.

A vertical merger is the integration of companies that work in the same field but provide different services in the supply chain, after the merger they complement each other and each has an advantage

  • The nature of the companies involved

In the case of a horizontal merger, all the companies must work in the same field and provide the same services, so that after the merger, there is an expansion of the company which entails the merger of two market shares of these companies into one

In the second case, the companies must necessarily provide different services and products, but must nonetheless operate in the same industry.

  • Purposes

Horizontal mergers occur when companies want to increase their credibility in the market and expand their customer base

The purpose of a vertical merger is to increase profits, reduce costs, and improve company performance

  • Benefits

In a horizontal merger the synergies occur, the resources of the company are merged into one and as a result, the companies have the opportunity to innovate, scale the business together and expand the customer base.

The advantage of the vertical merger is an increase in quality of the production and considerable economy on expenses.

Password Protect Csv File Creating Guide

The type of files separated by the .csv symbol usually contains a large amount of confidential company data, such as customer contact information or financial data. That is why such files require special attention and proper protection. You can secure your .csv files using either a password or a more secure method of encryption, and in this article, we will describe how to do both successfully.

How to protect .csv files manually?

Below, we will outline the detailed instructions on how to set a password on .csv files manually. So, to do this, you need to:

  • Find a particular CSV file that you want to protect with a password. It is usually saved in a folder on your Windows PC
  • Click on the file you wish to protect with the right mouse button
  • Among all the options that will open in front of you choose “send” and then select the form in which the file will be sent, namely “compressed folder”
  • The file will be compressed, wait a while until the process is complete
  • Then double-click on the already compressed file
  • In the menu of your PC, select the option “file”
  • After that, click on “add a password”
  • Then you will instantly get a new window with a line where you can type in the password you want for the file
  • Then you have to enter the password again to confirm it and click “ok”

How to protect the .csv file with the program?

If you do not know and do not want to understand everything yourself, certain programs can help you with this. To install a password protect CSV file using a program, you will first need to determine what kind of program it is. We would recommend you use Spotmau PowerSuite.

  • Download and install Spotmau PowerSuite on your computer
  • Open the program and find the “Privacy Kit” tab, which is on the left side of the column
  • In the new window you will see an option to “add a file”, click on it and select the .csv file that you want to password protect
  • You will still need to think up and enter a password, and then confirm it by typing again
  • Name the .csv file you want to save it under or leave it as is
  • Confirm all the changes by pressing the “ok” button.

How to encrypt .csv files?

While a password is already a definite security measure, for some of your files you may need something much more, especially if you plan to share those files, and encryption can provide that.

However, you should know that there is no way to encrypt a .csv file directly because they are simple text and you cannot just apply functions to them. So, to encrypt .csv files, you need:

Compress the file into a zip archive. Once you have zipped the file you can click on it and select the option “additionally” and then select the checkbox. With this checkbox, it becomes possible to encrypt the content and add a password to it. This applies to Windows users.

On the Mac operating system, things are a little more complicated with this. You have to use the Terminal to do this. It is not as complicated as it may seem at first glance, you just have to open up the program and type in the following:

  • cd (the folder in which you want to save your file)
  • zip -er (file name, including the “.zip” extension)
  • Type in a password of your choice

Box Virtual Data Room: Pros & Cons

Virtual Data Rooms is a handy program that provides a secure space to store and share documents which also provides additional features to optimize your business processes, but still, all vendors have their characteristics and directions according to which they select their target audience. In this article, we will talk about Box Virtual Data Room and the features it provides. We will highlight the main features, as well as the pros and cons.

Box Virtual Data Room – Overview

Box used to provide features for the general public on the Internet, allowing you to store and share your data in your space, so now when we use it, we can see some similarities to Google Drive or any other cloud space. But as it has evolved and improved, Box has evolved into what we now call a virtual data room.

Though it’s not focused solely on VDR services, it provides such an option on its list of services. The company was formed as we know it now back in 2005, and now provides features to simplify the company’s work and cooperation. Clients who have found Box VDR to be their ideal solution come from a variety of industries: non-profit, financial services, government agencies, health care.

The main features of Box Virtual Data Room

The main purpose of box virtual data room is to streamline and simplify collaboration between companies around the world, erasing the boundaries of the distance between them and improving communication and collaboration, even remotely. The provider is also open to innovations and is happy to provide them to its customers, and with 20 service centers worldwide, the company is ready to provide immediate and efficient support service. So, the main features of Box VDR are:

  • Constant backups – your data will always be intact, even if any threat or problem occurs, you can always restore the latest copy of your data
  • Audit Trail – provides the VDR administrator with a report on all the activities that take place within the space
  • Remote access and management – The flexibility of the space has no time, location, or device restrictions. You can do your work at home, on the road, or anywhere else where there is internet access
  • Encryption – The data room uses state-of-the-art 256-bit encryption to protect your data from leaks, both during communications and at rest
  • Communications – discuss important issues regarding your transactions in a secure environment
  • Task management – you can assign tasks to your employees right in the space, create separate rooms for projects and monitor the progress of the tasks
  • Document editing-edit a document in the space and it automatically syncs with its version on your desktop or elsewhere
  • Document conversion -when you upload and organize your documents, you don’t need to waste time formatting documents into the type that suits the space, it does it for you
  • Logo settings -the program interface offers you a customizable display that you can customize to match your company’s branding and logo

Pros and cons of BOX VDR

Like all software, Box provider has its pros and cons and now we will highlight the main ones.

Pros:

  • Ability to learn how to use, webinars
  • It is supported by mobile applications of any mobile OS
  • There is a desktop version for Mac and Windows
  • Support is available at any time of the day and night
  • Attractive price and 14-day free trial
  • Tools to create watermarks

Cons:

  • Linux OS is not supported
  • Does not provide the ability to control all users of the space
  • Has file size limitations, depending on your plan