Contrary to the merits of technology, today’s businesses still have many problems with the issues of secure document storage and sharing. However, the advent of virtual data rooms has blown those problems away. VDRs provide secure storage, effective management and communication tools, and control. Thus, they meet all the basic requirements of modern companies. This article will dissect the concept of data rooms in more detail and explain exactly how they improve performance and save resources.
What is a virtual data room, and how does it work?
A virtual data room is a cloud-based online storage facility that provides first-class security for your sensitive data. It allows you to store and share any data within the space with third parties and will enable you to manage complex transactions more smoothly and efficiently.
The principle behind VDR is that you purchase cloud storage, which may or may not requires you to install an app on computers and mobile. You log in when you need to work inside VDR, regardless of your location or device. If you’re logged in as a guest user, you can work on documents, edit, copy, forward, and more, depending on the permissions you have set for yourself. If you log in as an administrator, you can do the following:
- Load new data
- Manage and interact with any documents without limits
- Control other users’ access (block or allow different features)
- Display analytics and automatic reporting of user activities
- Setting watermarks on files
- Exchange of documents with new users
Key VDR features
The Virtual Data Room was created with all the mistakes of its ancestor, the physical data room, in mind. As such, VDR offers:
Н3:Flexible and easy to access
You and your partners can conduct all necessary operations without leaving your offices. VDR supports all login devices and operating systems so that you can access the space even on the go. The data room also offers a user-friendly and simplified interface that won’t take you long to adapt.
Н3:Security
VDR provides multiple layers of security and international security certification, proving that it is ready to work with sensitive documents. In addition, VDR provides:
- Permanent backup – will keep your data safe in the event of any failure
- Effective geographic and physical protection -Data centers are secured 24/7, and your data is located in multiple centers to increase data integrity
- Data encryption -protects against data leakage during data storage and sharing
- Detailed permissions – prohibit copying, printing, forwarding, and downloading of the document
Н3:Better communication and management
VDR allows you to assign tasks and deadlines. In addition, automation features simplify your routine document management. Finally, the space offers a secure space for communication, such as encrypted chat and a question and answer section.
How VDR saves you time and money.
Of course, the data room services are entirely up to their quality, but you’ll tangibly save a lot of money. Why? Let’s take a look below:
- You don’t need to pay rent for a room to store your sensitive data
- You don’t have to pay the employees of that storage facility and spend money on additional security measures and operational costs (paper, printer, etc.)
- No need to pay for printing and sending documents, as it can be done quickly and for free in VDR’s secure space
In addition, VDR greatly speeds up any process because:
- You don’t have to set up in-person meetings
- Automated features simplify your work