Sending Documents Into Transaction Room – 5 Things to Avoid


How to ensure control of documents at any point: at the counterparty, manager, or in the accounting department, is it possible to increase the speed of receipt of documents by the manager or stakeholders without automation, are there document flow rules? Read the answers to these and other questions below.

What is transaction room?

Automation of the enterprise nowadays is a priority for organizations that seek to optimize their activities with minimal financial and labor costs. An important role in the process of automation, and the daily activities of modern enterprises, is played by automated data exchange between different subsystems.

Document flow is the movement of documents within an organization and beyond. If you want documents to go through the shortest path as soon as possible without losing control, take care of creating a secure centralized platform, for example, Virtual Data Room or transaction room. The entire path of the document should be thought out in it, the rules for document circulation should be spelled out – from reception to registration and dispatch.

Transaction room opens up the possibility of centrally storing and managing strictly confidential company data. Automated data exchange in the software significantly simplifies the work of users with information, eliminates double data entry, saves time when sending documents into the transaction room.

Common mistakes you should avoid

Over the past few years, the Virtual Data Room market has become one of the most actively developing segments of the IT industry, including through government initiatives. However, there are still factors inhibiting the transition to fully electronic interaction between companies, and employees of enterprises.

So, there are 5 things you should avoid when sending documents into the transaction room:

  • Do not give access to electronic signature

An electronic signature cannot be forged, it has too reliable protection. But you can fake documents to get a signature sample or steal existing documents. Therefore, access to electronic signatures should be limited as much as possible. Do not pass it on to accountants, deputy and other employees of the organization, if it is not necessary.

  • Do not push access to programs to third-party users

Limit access to confidential information. First of all, this will help to avoid information leakage due to the fault of your employees. To do this, you need to make sure that each employee has access only to the information that is needed for work.

  • Don’t cheat on the reservation function

It is important to make constant backups. It is impossible to predict when a computer will fail, a short circuit will occur, or an employee mistakenly deletes an important file. Set up your backup in advance. Organize data storage accounting and put in charge. This way you can track who and when accessed sensitive information.

  • Online translation of all types of documents at once

Trying to convert all existing documents into electronic format is an extremely risky path. If it fails, all processes will suffer. It is better to start with one type of documents – for example, with acts of completion. It’s worth moving on to the next type only after analyzing what happened, but not, taking into account the errors that have arisen.

  • Do not miss updates

Transferring the system to permanent operation is the most difficult part of the project. In the process of electronic document management, the customer constantly has various nuances that the supplier has to fend off “on the fly” with constant updates.