Negotiations are part of everyday life. We communicate with each other – negotiations; we talk with the seller in the store; negotiations, we speak with the customer – even more so. Two parties are involved in the negotiations: you and the opponent, each pursuing their own goals. Negotiations end when a favorable relationship is established.
Modern tools greatly simplify the process of negotiating deals. In this article, you will learn about software solutions for the negotiation process.
Contemporary Negotiations – Software and Tools
To date, a lot of different options for tools have been proposed that can be used for effective negotiations and subsequent transactions.
Services for online meetings
With the help of online conference programs, you can hold meetings and present your capabilities to an interested audience. However, this is the most primitive tool, which does not have many features and a low level of security.
Zoom
The service provides a chat for personal and group meetings. With it, you can hold all types of meetings – conferences, webinars, and presentations. Conferences can include up to 1000 participants.
Google Meet
Meetings for business up to 250 participants and large-scale conferences up to 100 thousand participants. Record subtitles, save the video to disk, and share files.
Microsoft Teams
Meetings of up to 300 participants, recordings, guest access, file sharing, calls, and collaboration.
Board portals
One might say this is an improved version of the program for online conferences. Here you can not only confer but also create negotiation resolutions, vote, make decisions, and certify them with your electronic signatures.
Services of this type include iBabs, Wrike, Govnr, Sherpany, and Process PA. However, usually, virtual board portals are combined with a different kind of software – a virtual data room.
Virtual data rooms
This is the pinnacle of creation, which has all the necessary tools inside for negotiation:
- The ability to conduct video calls with different participants in the process.
- Infinite storage for data.
- The maximum level of security (256 bits of encryption, double authentication, watermarks, different levels of access for employees, and so on).
- Additional tools for invited experts.
- Internal chats for secure communication between employees.
- The presence of a board where you can track progress on tasks and much more.
Such services are usually used at the stage of negotiations, then to prepare for a major transaction (due diligence data room), and then for mergers and acquisitions.
The largest virtual data room providers include iDeals, Diligent, The Boardvantage, BoardEffect, BoardBookit, Boardable, Azeus Convene, and others.
The advantage of this solution is that each business can find an option with the necessary set of functions in a given budget. All virtual data rooms have similar features (data security, basic functionality). Only additional features, capabilities, and costs differ.
Small businesses can opt for a virtual data room for up to $200 per month. A medium business most often chooses technology for $300-1000 per month. Large corporations can pay thousands of dollars monthly to conduct transactions in a virtual data room.