Request List Management

Streamline Your Document Collection & Management Process


Your Challenge:

Dealing with the Unpleasant Processes of Document Collection & Management Associated with Client Engagements

Our Solution: Request List Management (RLM)

In preparation for audits, tax return preparations, loan applications, estate and exit planning, the process of putting together the required provided by client (PBC) documents often turns out to be messy and time-consuming.

In addition to an extremely tedious document collection process, a significant amount of time is lost due to inefficient communication between professionals and their clients.

Our Request List Management solution helps you streamline and automate the management of this frequently arduous procedure.

In short, RLM helps you focus your talents as a professional where you deliver value, not on the document collection effort.

Vault Rooms provides a service for businesses to safely share business-critical documents on the V-Rooms® platform which includes layers of bank-level security and has helped to innovate the virtual data room industry. Vault Rooms has flourished into a market leading virtual data room provider dedicated to offering innovative solutions to meet the needs of its clients.

Request List Management is just one of the many tools we offer to simplify and organize your business processes.

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Do You See the Red Flags?

News headlines for the past several years have detailed the arrests of email scammers and wire fraud cyber criminals.  One of the most well-known and oldest email scams was the “Nigerian prince” email scam.  Despite its infamy and longevity, these types of email scams appears no less potent.  

So why, after more than ten years, do people still fall for requests for personal information or money from unknown and unverifiable people, often written in prose filled with mistakes and typos?

Email Inbox Electronic Communication Graphics Concept

The Importance of Red Flags

For most people, emails containing any red flags (such as an unknown sender, requests for funds or personally identifiable information, a fantastic emotional appeal, non-idiomatic English) are either an automatic or manual rerouted to the spam folder. These people are well-protected, and safe from most threats.

However, there are some people, or at least enough to make the scheme profitable, for whom these red flags are not identified as such. And most of these people fall victim to social engineering.

What Is Social Engineering?

According to Social Engineer, Inc., a research-oriented security organization, social engineering is “a blend of science, psychology, and art,” paradoxically both simple and complex, and more specifically, “any act that influences a person to take an action that may or may not be in their best interest.”  

The Nigerian prince email scam has a very compelling blend of science, psychology, and art that is strikingly both simple and complex. The emails are often variations of the same narrative theme: due to an injustice, a prince has lost his fortune and needs help recovering it. If some just and caring person will give him full bank account information now, he will reward the individual with 20% of the fortune.

The science or technology of email and wire transfer allows the scammer to quickly, easily, and relatively anonymously receive money.  The psychological aspect of the operation, the promise of easy money and plea for help, appeals to the victim’s desire for money and willingness to help.  The art here is one of manipulation and deception.

Keep An Eye Out For Red Flags

The red flag is waving furiously, so don’t miss it.  Don’t open emails from suspicious senders with questionable subjects.  Don’t wire money to someone you don’t know. Don’t click on links in emails that appear to come from people you do know if the situation seems unfamiliar.  Pick up the phone and talk to the person first.

Choose Vault Rooms

If you’re looking to prevent your business-critical documents from ending up in the wrong hands, use one of our Virtual Data Rooms to securely share your sensitive information with multiple parties.

Looking for a Virtual Data Room that fits your needs perfectly?

Get started here:

What Makes Good Customer Service?

Almost any service-based company you come across boasts about their customer service as being entirely dedicated to providing you an amazing experience. But as we know all too well, this is rarely the case. 

What are some of the qualities that make one provider’s customer service superior to the rest? Listed below are some qualities that one might look for in determining a service provider that can work flexibly to support your organization’s needs.

Around-the-Clock Customer Service

It’s important to make sure your provider is available at all times of the day, even when it seems unlikely you’ll ever need to call them at the crack of dawn. Sometimes, hours run late, deadlines are pushed, and the workplace becomes a temporary homestead for weeks at a time. On these occasions, having access to 24/7 customer service can mitigate the risk of running across errors and losing the potential productivity of hours at a time.

Low Response Time

Even if you know that your service provider is available 24/7 for support needs, you need to look for their average response time and see how soon, or how long, it takes for user needs to be addressed. Around-the-clock service doesn’t mean much when it takes hours at a time for a single question to be answered. What makes a good service provider is the combination of 24/7 service with a low response time.

No Transfer Calls

We’ve all experienced the dreaded customer service transfer cycle when we set out to call one number only to wait 30 minutes and be forwarded to another number. Good customer service sets out to address your needs here and now. This means no information outsourcing, no in-house confusion, and no waiting in a handful of queues to have your problems solved.

Detailed Documentation

So you’ve found a service provider that is able to work with your schedule, respond quickly, and get the job done without hassle. Now it’s important to check for the provision of documentation, such as videos, tutorials, and FAQs. There’s not just one correct way to address the needs of a customer, and successful customer service programs will outline the majority of client needs in an easily accessible format online.

You can see that there’s a level of depth in choosing a superior customer service experience. Each of these components work together, and it would be altogether detrimental to the system if one were missing.

World Class Security and Customer Service

At Vault Rooms, we not only provide state-of-the-art virtual data rooms that help our clients keep their business-critical files safe, but we also provide the finest in customer support with around-the-clock customer care specialists trained to engage with thousands of clients.

Looking to learn more about how our virtual data rooms can help you improve your document collection and organization efficiencies? Get started here:

Why Task Workflow and Collaboration Matter?

It’s a fundamental truth that two brains work better than one, especially when it comes to task workflow and collaboration, where milestones and goals are set and need to be completed in a timely and efficient manner. This definitely applies to M&A and fundraising transactions, financial audits,  tax preparation and loan processing where many such tasks inherently require the participation of two or more parties.

So here’s the million dollar question: How can technology leverage the needs of multiple party collaboration in providing a thorough yet cohesive workflow and task management solution?

Issues with Traditional Collaboration

If you’re trying to complete an acquisition, not only are you working internally with colleagues, you’re also working with lawyers, accountants, and other 3rd parties. Files are often shared containing input forms for various pieces of information. And with multiple users emailing back and forth, it’s easy for various versions of this form to get lost in the barrage of communication.

The definitive way to fix this problem is to provide a collaboration service that allows for a singular, consistent copy of files to become accessible for all relevant users. This ensures that no one needs to worry about being up-to-date, providing redundant information or risking the security of the provided content. It’s all available via a safe and secure web server.


Task Collaboration and Privacy

Task collaboration, with the entirety of its benefits, can also raise a concern about privacy. If you’re emailing all of your information, how can you be sure that unwanted guests aren’t gaining critical access through a long list of malicious social engineering tactics?

Hosting online also allows for enhanced security options (such as printing and downloading controls, audit logs, and watermark options) that cannot be found within consumer-focused cloud storage platforms or email correspondence.

For firms that deal with multiple transactions on a regular basis, it’s of paramount importance to ensure that your proprietary information stays safe. A task collaboration platform can guarantee that in ways that other, limited mediums cannot.

Security is a top priority for us at Vault Rooms and our focus is to provide our clients with state-of-the-art features that allow them to exercise complete control over their data room. With so many new and different ways to use virtual data rooms, our clients’ security needs have also become more varied. At Vault Rooms, we work with our clients to customize the features used to perfectly fit their security, collaboration and workflow requirements.

To learn more about our virtual data rooms, get started here:

4 Ways Document Management Boosts Efficiency

If you deal with a large number of documents on a daily basis, it’s important to understand the document management options available to you. These tools can boost efficiency and allow your firm to operate with a mitigated security risk.

Advanced Search

Enhanced search options allow you to view and organize documents by keyword, upload data, metadata, and other criteria. Searching for these documents can yield results in a matter of seconds. If you have a meeting lined up with a serious prospect, one search will provide all relevant information in a clean format. Proper document management ensures that your files are easy to locate, retrieve, and receive.

Ease of Access

One of the major pain points in using traditional document storage is the restrictions on how you can access your files. If all your files are stored on a single hard drive, you’re also exposing yourself to an increased risk that your data might get damaged or lost. By using a cloud-hosted document management service, you can access your important documents anytime, anywhere.

Document Management Security

Document management services also host a range of relevant security options. Dynamic watermarking, audit logging, and print and download restrictions that serve as safety measures against any external threat that might appear. These tools also eliminate the potential for an internal threat: if a rogue user tries to download a document, or has been viewing it for a suspicious period of time, you will have the evidence to take action.

File Sharing

A cloud-based document management service also allows for freedom to collaborate. Users can share documents back and forth from any location. With detailed security options, administrators can set the rules and determine various access rights. And with the audit trail functionality, they get to know who has viewed or edited particular documents. This often proves to be a critical resource when maintaining liability in the transaction process.

For over a decade, Vault Rooms has been the SAFE, EASY-TO-USE and AFFORDABLE virtual data room provider of choice for investment bankers, accountants, private equity firms, M&A advisors, and many more!

We provide bank-level security with simplicity of use that allows you to take the hassle out of document management.

To learn more about our virtual data rooms, get started here:

How to Avoid Information Leaks

As popular news suggests, information leaks could easily lead to the compromise of extremely valuable data that was not meant to be viewed publicly.

Preventing this is a matter of paramount importance for any firm, regardless of its shape and size. It’s always important to be extra cautious when you’re exchanging business-critical documents and other files containing sensitive information with multiples parties.

One of the biggest user oversights in cybersecurity is the trust people place in large-scale email service providers to stay secure at all times. While many people rightfully trust email providers to deliver their emails at fast speeds, the same reliability cannot be spoken for as it relates to email security.


An Alternative to Email

For firms that need to circulate highly-sensitive information between multiple parties, virtual data rooms are a wise solution. The multitude of highly-customizable security settings and document management features that these virtual ‘fortresses’ provide make them much more immune to cyber threats.

Mitigating the Risk of Information Leaks

Every company has confidential information being transmitted and shared in one form or another. This information ranges from financial, HR and payroll records, customer lists, price lists, to transaction documents and highly-sensitive intellectual property.

Virtual data rooms can prevent the interception of these valuable documents, as well as restrict end-users from sharing the information with others. For firms that value a secure and collaborative environment, Virtual Data Rooms (or VDRs) are crucial in optimizing efficiency and mitigating risk.

Data rooms alleviate the email security risks of transferring sensitive information, keeping it out of the hands of unwanted recipients.  Data rooms are being used as a replacement to risky email transmissions in many fields and industries, including M&A, real estate, wealth management, board communications, and venture capital transactions.

Looking for a virtual data room to keep your business-critical files safe? We at Vault Rooms are here to help you find a solution that perfectly fits your needs.

Virtual Data Rooms & Their Key Role In Digital Leadership

In a brilliant article titled ‘10 skills for digital leadership’, Daniel Hood, the editor-in-chief of Accounting Today, emphasized that “Leadership is the common denominator of the [accounting] firms that have great technology and [is] the single most important differentiator between the leading firms and the rest of the pack.” Effective leadership skills have always played an essential role in the success of some of the top accounting firms. The philosophy of successful leadership, when boiled down to its very essence, is about making decisions that position a firm for success; and one decision which often plays a crucial role in the success of tops firms is the choice of a trusted virtual data room provider.

Choosing the right Virtual Data Room (VDR) enables you to boost the productivity of your firm, increase the speed and quality of your communications, improve the client experience, while also ensuring the overall safety of your business-critical documents. In short, VDRs play a significant role in the success of some of the top accounting firms because they firmly reinforce at least 5 of the 10 key digital leadership skills: Communication, Simplification, Innovation, Technical Leadership, and Vision. All of these are mentioned by Daniel Hood in his article.

So let’s take a closer look at how virtual data rooms help accounting firms in establishing their digital leadership.

Ensuring Effective Communication: Request List Management

As Daniel Hood emphasized in his article, maintaining efficient communication channels is one of the biggest challenges faced by all firms. IT leaders have come to the natural conclusion that email is NOT the solution. The reason for this? Huge amounts of lost time in unproductive email conversations. A statistic from Gartner recently declared that professionals spend as much as 50% of their time searching for and gathering documents. What’s even more disturbing is the fact that a major part of this time loss consists of repetitive conversations involving the circulation and location of important documents. So, is there a solution to this problem? The simple answer is YES, Request List Management.

Request List Management (RLM) is a set of features provided by Vault Rooms along with virtual data rooms which allow a firm to significantly improve the quality and the efficacy of a firm’s communication with its clients. The following is a list of the key benefits provided by RLM:

  • Improves document collection efficiency
  • Reduces a lot of the back and forth
  • Centralizes communication
  • Helps get rid of ALL email related issues (ex: documents getting lost in spam folders, document sizes being too big, repetitive emails for the same thing, having a weak email password which exposes the firm to additional threats…)

Simplifying Communication

Another important and often overlooked aspect of digital leadership involves getting rid of systems and processes that do not support the final outcome – the success of the firm. The task of automating and replacing processes that add little or no value is quite similar to how the dead wood is burnt in a forest fire – it’s a great way of clearing out the clutter and restoring the productivity of your firm. This is another huge benefit that Request List Management (RLM) brings to the table – it centralizes and simplifies communication by automating the collection of documents and helps to clean out the clutter of inefficient communication processes.  

Embracing Disruption & Innovation

Companies are often at their strongest when their IT leaders have the liberty to take advantage of the latest technologies that disrupt traditional systems and processes. To an IT leader, choosing a virtual data room is all about moving away from the traditional ways of communication and document management towards an innovative platform that disrupts and streamlines the collection, organization, sharing and tracking of business-critical documents.

Technical Leadership

As Daniel Hood mentioned in his article, leaders in an organization do not “always have to know how to build the watch,” but with a Vault Room, that’s not a problem. When it comes to VDRs, the ease-of-use along with the access to technical skills means that leaders do not need advanced technical knowledge to effectively manage and monitor their business-critical documents. Time wasted in catching up and learning new technologies is eliminated. In essence, choosing the right virtual data room is about allowing leaders to do what they do best – lead.


Finally, as Daniel Hood said, “it is difficult, if not impossible, to succeed with a defined vision, strategic plan, and an IT strategy to support the vision and plan.” Successful accounting firms are choosing to use virtual data rooms as part of their long-term IT Strategy. Not only do VDRs allow these top firms to eliminate document and collection inefficiencies while also securing their business-critical documents, but they also serve as an important foundational component to support their vision and their success.

Choose Vault Rooms

For over a decade, Vault Rooms has been the SAFE, EASY-TO-USE and AFFORDABLE virtual data room provider of choice for accountants, investment bankers, private equity firms, M&A advisors, and many more! We specialize in providing bank-level security with the simplicity of use that allows you to take the hassle out of document collection and management.

To learn more about our virtual data rooms, get started here:

Why You Need a Strong Password Policy

Newsflash! You are not as safe as you think.

Passwords can be cracked. It’s pretty much every month nowadays that we hear about a new large-scale data breach, the leaking of personal content, or the hacking of major company’s servers. What’s really surprising is that many of these infiltrations could have been entirely avoided by these ‘victims of attack’ if they had taken a few specific steps to generate unique and secure passwords.

According to a 2015 report by technology journalist Carly Okyle, 90% of employee passwords are crack-able within 6 hours. That’s right, 90%.

Why is this happening? Well, one of the biggest reasons is that 65% of people use the same password for all of their web accounts.

It might sound inconsequential at times, but such lack of foresight often comes with a hefty price. It typically costs $200,000 on average for a small business to fix issues post-breach. And this figure has gone up to an astounding $170M for a single company looking to recover from a large data breach.

Where Users Go Wrong

When you look at how many of the passwords are stored, it’s not too surprising to understand why these passwords are exposed. 47% of users surveyed by Okyle maintain a spreadsheet to store passwords. 32% rely on memory, 31% use another form of electronic storage, and 27% write their password on paper.

Taking into account the number of casualties caused by these simple lapses of judgement, don’t you think it’s important to understand what constitutes a strong password policy?

Creating a Strong Password

A strong password policy includes the following:

  • At least 8 characters
  • Should not contain personal information
  • Must be unique from previously used passwords
  • Should not contain any word spelled completely
  • One special character
  • One number
  • One upper case letter

While this policy will go a long way in ensuring that your password is secure, it’s important to note that nothing is ever impenetrable. Hackers use brute force tools that are trained to make acute password guesses based on common patterns and characters.


Leverage Multiple Security Factors

It’s important to combine the usefulness of a strong password with other security enhancements to maximize the confidentiality of your information. Other safety measures include the use of bio-metrics, two-factor authentication requiring a security question and answer or an authentication text or app code, and the ability to restrict excessive login attempts.

Security is a top priority for us at Vault Rooms and our focus is to provide our clients with state-of-the-art features that allow them to exercise complete control over their data room. With virtual data rooms being used in so many different and new ways, our clients’ security needs have also become more varied. We offer password management features within each account that allow an admin to establish password policies for optimal security protection. Whatever your security needs are, at Vault Rooms, we have a customized solution that perfectly fits your requirements.

To learn more about our virtual data rooms, get started here: