Virtual data room helps solicitors

The move towards paperless offices has taken a step forward, with the availability of a virtual dataroom for corporate finance solicitors.The service from virtual deal-room solution provider PeopleDoc and corporate information management specialists Williams Lea works on a project basis.Documents are scanned into a computer and then arranged into a room allocated for that particular deal.

Restrictions can be placed on who can amend each document.Royce Murphy, chief executive of PeopleDoc, said the service has three aims: It has a combination of document management and project management capabilities.

But it also has a workflow element, guiding people through the deal by assigning tasks, setting dates, and proactively reminding people when things should be done.

The system can either be managed by the firm itself or by PeopleDoc and Williams Lea, and costs from 2,900 per month.Paula Rohan