Currently, virtual data rooms are becoming more and more important for most businesses across the world. If you are in an industry that deals with financial transactions, then you have probably heard about VDR. You may also encounter data room due diligence if you are in the process of selling your company.

Virtual data rooms are essential to every business that wants to enhance its security, streamline its operations, or facilitate due diligence processes. The market for virtual data rooms continues to increase as businesses in most industries look for innovative ways to survive and stand out from the competition.

But what exactly is VDR and how is it transforming the business landscape? Read on to learn how virtual data rooms can help transform your business. 

What is a Virtual Data Room?

A virtual data room, or due diligence data room, is an online data room that is used by companies and businesses to store sensitive and important documentation. Other than acting as a repository, VDRs also allow users to share with investors, potential clients, and employees in a controlled environment. 

A virtual data room is also useful for enhancing the due diligence processes of companies. These data rooms are useful for streamlining M&A transactions that involve disclosing and sharing sensitive information with third parties.

Some of the industries that use virtual data rooms include: 

• Legal firms
• Investment banking
• Technology
• Private equity and venture capital firms
• Life science

The Evolution of Data Rooms from Physical Data Room

Before the innovation of virtual data rooms, most businesses used physical data rooms to store and share business information that is necessary for due diligence. These were physical rooms where businesses and companies would store sensitive information and there were restrictions on who had access to the data room.

Although these data rooms were great advancement from the traditional storing methods like filing cabinets, they were still susceptible to data thieves. 

Because of the security concerns that come with physical data rooms, business owners worldwide are now investing in virtual data rooms. In virtual data rooms, folders and files are stored in a room that can be customized based on your needs. Plus, the data can be stored in various places and countries where the data room provider’s data centers are located. 

Benefits of Virtual Data Rooms

Here is why most entrepreneurs prefer VDRs.

1. Quick and Easy Navigation

Unlike physical data rooms, virtual data rooms have features such as filtering options and advanced search options that make navigation easy. The business admin can arrange information in folders to allow the user to navigate through without much difficulty. This is particularly useful where business transactions and processes require reviewing and sharing countless documents. 

Another great feature that ensures seamless navigation is the site map. This feature uses live links to list out the breakdown of the virtual data rooms.

2. Increased Control

A unique spec of virtual data rooms is the customizable permission setting that allows the administrator to control who can access certain documents in the data room. They can easily track the activity of the users in the data rooms and revoke access at any point during the transaction.

With the activity report, you will be in a better position to determine the level of interest of potential buyers during M&A transactions. Plus, you can configure different security measures like setting the expiration date.

Another important control feature is the drop-and-drag file. This tool allows you to make changes to an already uploaded file so you can have control over the information you have shared.

3. Utmost Security

With most people shifting from traditional platforms to digital platforms, improving the security of your business is important. When you invest in VDRs, you can be assured that your confidential information is well secured. 

VDRs are equipped with various security procedures that can protect your business data. This can, especially, be very beneficial for businesses that deal with sensitive information like financial institutions, law firms, and many more. 

4. Worldwide Access

A challenge with physical data rooms is that a lot of time is needed to access the files. On the contrary, VDRs are easy to access regardless of where you are. Besides, you can do transactions and share documents using your device anywhere you are. 

This also allows reviewers to access the files and folders in a quickly and efficiently. Consequently, transactions will be fast and seamless. 

5. Improved Data Management

For businesses that deal with large volumes of data, locating specific files can be quite overwhelming. A benefit of virtual data rooms for businesses is that they can filter files depending on the date or time.  This ensures better data management of your file history. 

6. Effective Communication

VDRs improve communication within an organization, which in turn improves efficiency and productivity. As more companies adopt remote working for their employees, a virtual data room can come in handy to help team members communicate effectively. Your team can also access and browse information from different locations, leading to workflow efficiency.

The Future of Virtual Data Rooms for Businesses

Despite all the benefits that virtual data rooms offer businesses, there is still more innovation and the transformation continues. It is believed that VDR companies generate massive revenue since virtual data rooms became popular in 2017. In 2016, nearly 240 VDR providers generated over $800 million in revenue. 

Businesses in nearly all sectors are increasingly investing in VDRs because of the technological data solution they offer. VDR has undoubtedly revolutionized how business data and deals are done and shared in the world of business.

Moreover, businesses are bound to continue shifting from physical data rooms to VDRs because of the security level they offer. VDR promises the safety and security of information, deals, transactions, and internal communication. 

It also provides a platform where bosses, potential clients, and workers can work together seamlessly, which is vital for the success of any business. An emerging trend is using virtual data rooms and blockchain technology to enhance security for business transactions. 

Ultimately, VDR is taking over the business world and is expected to continue for years to come. Although not all businesses have fully accepted this platform, it is clear that VDRs will not go away anytime soon. 

The COVID-19 pandemic sent shockwaves across economies and every sector of business around the world.  Small to medium companies everywhere have been on life support and many smaller companies have closed down over the past 12 months. The business world has taken a definite knock. Visual Capitalist agrees. The companies that have made it this far have had to actuate heavy budget cuts to stay afloat. Unfortunately, retrenchments were also inevitable despite being a last resort. Outsourcing, on the other hand, has seen an increase. This is due to the fact that technology now facilitates better collaboration regardless of distance. This is expected to increase in 2021 and the years to come.

What is outsourcing?

Outsourcing is the practice of sub-contracting or delegating projects, tasks, or business processes to external contractors. That essentially means that some of your business functions, tasks, or projects will now be handed over to a seasoned specialist contractor like a digital marketing agency. 

What is the difference between Outsourcing and Insourcing?

Let us say you are an ecommerce store, and you have a task that requires graphic design. You remember that Jane from accounts mentioned in her cv that she has experience with graphic design, so you call her in to help. That is insourcing. Outsourcing would have been looking externally for a specialist graphic designer.

3 main reasons why you should begin outsourcing specialists in 2021. 

1. Maximised efficiency

John owns and runs a furniture manufacturing company. He decides to expand his business by doubling production and exporting his handmade furniture to other countries. While some companies have the resources to keep the entire export process in-house, John does not. It would cost him far less to just outsource to an export specialist.

Benefit: As with every angle of business, there are laws and regulations you should abide by. Outsourcing to a specialist guarantees legal compliance for your business. You will not make losses based on lack of knowledge. Your chances of succeeding are much higher because you now have an expert at your disposal.  This allows you time to focus on the core aspects of your business, like production and business development.

2. Reduce hiring costs
   Hiring can be expensive and time-consuming. From the creation of the recruitment strategy, figuring out what special skills are required of the recruited, to spending money on job websites and conducting interviews, screening, and background checks. This entire process can take anywhere between 8 to 12 weeks, after which comes training. It could take them another 3 to 4 weeks of adjusting to become fully productive or ready to work according to your standards. You have invested so much time and money.
   

Benefit: Outsourcing takes all that effort away by being fast and efficient. All it normally takes is one or two conference calls or meetings to discuss the scope of work and your business objectives. They send you a quote. You pay. They begin. All this inside of a week. This is precisely why you should outsource to a recruitment agency. You tell them exactly what you want and in no time, they have the exact match for you. Save your money and time.

3. Get expert specialists the first time.
   While searching for the best-qualified digital marketing manager to join your team, you may find that you’re having trouble finding a candidate that actually has a full-stack digital marketing skillset. This is time-consuming because you must sieve through numerous candidates.  The same applies to when hiring a personal assistant. With government-ordered lockdowns in effect across the world, many office workers have had to work remotely. This has transcended the role of a personal or executive assistant. It has become important to outsource the very best personal or executive assistants who know how to work remotely and are tech-savvy. 
   

The advantage of technology also makes it possible for you to outsource assistants that closely match your selection criteria from all over the world. In fact, long before the COVID-19 pandemic, virtual outsourcing was already available but under-utilised. AVirtual for example, is a Cape Town based outsourcing company that connects specialist international virtual assistants with business leaders around the world and has been providing this cutting edge service for years.

Benefit:  Outsourcing makes it possible for you to hire the very best specialists without the time burden of recruitment and breaking the bank. The company you are outsourcing has already done all that HR work for you. When you call them, they simply assign an expert based on your requirements, you meet the assigned expert and if you like them the work can begin immediately.

The COVID-19 pandemic has stretched the range of limits in the way business is conducted. Remote working has redefined collaboration. Predicted business practises are leaning towards the increase in outsourcing for sustainable business.

If your job has meant you’ve had to work from home for the past year due to the pandemic, then you’ll be all too familiar with zoom calls, balancing home schooling and trying to find the best area to work from. There’s no denying that at times, it’s hard to maintain a good level of productivity when working from home, as you lack the social aspect of office life and there are more distractions around you.

For obvious reasons, the past year has been extremely difficult and we’ll have all faced periods where it’s hard to keep motivated. During these times it’s important that business leaders put the correct plans in place to ensure they have a productive workforce, and there are many ways in which this can be done.

FLG have launched a campaign which looks to provide business leaders with a range of ways in which they can boost productivity amongst their employees. After reading through their tips, we found them very helpful and because of this, we wanted to share some of them with you.

Provide the correct tools and equipment

There’s nothing more frustrating than when you have a lot of work to complete, but your laptop keeps freezing or you’re using software which is outdated. As a business leader, it should be a top priority to provide all of your workforce with high quality equipment and advise them on the best programs and software to use.

With many people still working from home and the possibility that this will be a new way of life going forward, it’s important that you still encourage your workforce to communicate, even if they’re not sitting next to each other. Software such as Zoom, Google Meet and Slack have all been hugely successful over the past year in terms of allowing colleagues to communicate effectively.

Be open to flexible working

If one thing has become clear over the past year, it’s that the typical 9-5 day doesn’t always mean maximum productivity. As many parents have had to balance their own work whilst helping to home school their children, it has meant that business leaders have had to be more flexible.

Knowing that you can be flexible with your hours can often increase productivity and lower stress levels, so it’s important business leaders take a more open-minded approach going forward. It’s unlikely that the standard 9-5 office hours will be brought into practice again, so make sure your employees are aware of this and help take some of the strain off of them.

In this post we wanted to highlight how simple it is for business leaders to promote high levels of productivity amongst their employees. Simple changes can go a long way and it’s important all businesses take note of this.

It would be great to hear if you have made any changes to the way your company works and if it has made your employees feel more productive. Share your ideas on social, using #AProductiveWorkforce.

Everyone knows the feeling of dreading their day job. Whether you’re bored of doing the same old tasks and want a new challenge, you are not getting along with your coworkers, or you need to change jobs because of relocating to a new town, you want to make sure you select a company that has a lot going for it.

But how do you find a great place to work? When we are all looking for something different, are there some standard practices we should be looking out for? What even makes a company an excellent choice? Read on to discover some of the things that you should think about when finding a great place to work.

Experience

We are not only suggesting you match your experience to the company – we think you should look into other employees’ experiences. Nowadays, it is relatively easy to find out what other employees have experienced at the company you are applying for. While online reviews should be taken with a pinch of salt, if the same issues keep being flagged up, they are worth considering. Similarly, if employees have an overwhelmingly positive experience of an aspect of the company, that is a big plus!

Flexibility

In the past 12 months, companies have had to be more flexible than ever in how their employees work, what hours they work, and from where. However, it is important to ensure that this flexibility extends outside of times of crisis. Working for a company that trusts you to get your job done without micromanaging your every move is invaluable. Asking questions about this at an interview is a fantastic way to get some insight into the company practices and culture.

Communication

The level of communication within a company should be apparent from your application onwards. If the company is not getting back to you within a specific time frame they have laid out, then this doesn’t bode well for their communication in other areas. If, however, they are transparent about their processes throughout your application and interview, it is a great indicator of things to come. Make sure that you are equally open in your communication to create a positive professional relationship right away.

Benefits

It might sound unbelievable, but not all companies have the same benefits. It is worth checking out what kind of package your potential company offers before you make any concrete decisions about taking a job. A great range of employee benefits (such as the employee benefits solutions offered by Zest) and schemes, promoting a strong company culture and showing gratitude to loyal staff, reveals a company that values its employees. This is much more likely to lead to staff who stay longer, become experienced, and provide you with much-needed support as you learn the ropes.

Have you ever dreamed of designing trending clothes, if yes then you have come to the right place. Having a good fashion sense is good, but to turn your passion into a career option you have to do something more. Same as other things, to master the art of fashion designing you have to practice it again and again. But with the best guidance and some secret tips, you can do it better and faster than the others. 

The fashion industry is expanding day by day and with it, the opportunities to being a fashion designer are also increasing. However, to be a fashion designer you have to do a bit of hard work and smart work together.

5 Tips to Master the Art of Fashion Deigning

A fashion designing career requires not only good expertise but also determination, focus, and curiosity. So here are some tips that you can follow to being a professional in fashion designing.

• Degree or certification: Day by day fashion designing is getting a high competition field, and certification is the best tool to prove you anywhere. Now companies are hiring their fashion designer either according to their education in fashion designing or experience. So to be the best among all the first thing you can do is to get all information about fashion designing.
• Never stop learning: Learning should be never stopped even when you get done with your studies. Stay at top of the knowledge game by continuing new things. Keep sharpening your skills with some new ones and stay cursive about other things.
• Learn Different Sewing Skills: If you know different types of sewing then you can easily turn your imaginations into reality to present them to others. By doing this you can easily get the true analysis of your designing clothes. You can use cheap sewing machines in starting like you can buy any cheap sewing machine for quilting, and for embroidering for practice.
• Stay Up To Date with Trends: In this new generation, trends keep changing but you have to be ahead of them as they shift constantly. Getting updated with new trends can give you the best ideas about what people really like and want currently. If you will able to keep an eye on the trends then it can be a table-turning point for your designs.
• Make a Portfolio: To get a job in the fashion industry you need to be able to prove yourself first. For a fashion designer, the best thing that can represent you is your fashion designing portfolio.

How can I be successful in fashion?

In order to get successful in fashion designing, you should know some main things first. As we already mentioned that now it is getting a highly competitive field. If you want to be a part of it you should be the best according to the needs of the company and new trends.

• Try to being on the front always: If you have something new and unique better than the others then never stop yourself to let people know. Don’t be afraid to stand out for your items and designs that can be a masterpiece for anyone.
• Good relationships: Some internships and apprenticeships can be all those coffee runs and photocopying services. It compels many newbies to leave this field as their future career. But if you survive, then it can be so good for new opportunities. With a good internship, you can get a good start in the fashion industry.
• Be open to advice and discussions: You can never grow if you always try to keep your designs to yourself. Share your work, portfolios, and designs with professors, instructors, and friends to get some improvement tips. It is hard to take criticism on something you have put in your hard work, but with that feedback try to overcome your weaknesses and mistakes.

Can I become a fashion designer if I can’t draw or sew?

Yes, you can become a good fashion designer without knowing fashion designing drawing,or sewing. The solution to this problem is different fashion design software. You can make professional-looking designs and sketches even if you can’t draw or sew properly. In fact, most clothing companies and famous fashion designers are used to make their designs with fashion design software. Due to this upgrading digitalization, most of the manufacturers demand to get their designs in clean digital format over hand-made drawings.

How to design clothes that sell easily?

In order to sell your designed clothes easily, you can do different things. First of all target your market in which you want to sell your designed clothes. Don’t design first and look for the customers, instead of it first look at the customers need and taste and then start designing. Choose your clothing line type and then start designing. Pick one category from dresses, pants, or skirts to do it in a good way.