Virtual data rooms are unique programs that have several features that are unique to their type of program. Some of the features of VDRs certainly resonate with alternative document storage and sharing spaces, but they are more advanced to provide a professional environment and complete comfort to your company and its employees. VDRs allow you to easily organize your files and provide easy access to the necessary files, but at the same time have high security and confidentiality. In this article, we will highlight the main features that can benefit your business.
Virtual data rooms – main purpose and use
Although virtual data rooms only started gaining popularity a few years ago, they have been around for more than 20 years and are now one of the most lucrative markets from the advanced technology industry. Previously, the main purpose of data rooms was thought to be to provide a safe space for M&A transactions, but now these tools have evolved in many different branches. VDRs can now provide their services to absolutely any organization and any industry, adapting some of their functions to the specifics of a particular business.
Data rooms are business-oriented spaces that guarantee easy management and control of data, high security, tools for collaboration and remote communication, and many other features that can optimize routine business processes, saving you time and costs. Below we highlight the main benefits of data rooms and features that most providers offer to their customers.
The whole world understands how important intangible assets are in today’s world. That’s why businesses try to protect their data as best they can. However, during transactions or document exchanges, they are vulnerable if the proper tools are not used. VDR provides security certifications, the best of which are SOC 1 and 2, ISO 27008, HIPAA, and others. Other features include:
- Two-factor authentication or other sophisticated login systems- to secure your login
- 256-bit encryption-as the primary protection against data leakage
- Backup – to preserve data integrity under all circumstances
- Granular permissions for access and interaction – regulates the level of protection and controls the permissions of each user within the VDR, Allowing you to block copying, printing, forwarding, and downloading of the document
- Watermarks -additional data leakage protection, copyright protection
- Built-in anti-virus – to scan all documents for viruses and instantly eliminate threats
Flexibility and ease of access
With the pandemic, remote business management is more important than ever. With virtual data room services, you can perform your duties wherever you are, in bed, on the road, or the other side of the world. VDR supports any OS and device. It also saves time on any transaction, as parties can reach an agreement without leaving their own offices, efficiently perform remote verification and communicate via encrypted chat or Q&A section.
Ease of organizing documents
Every company is sure to have mountains of data that can sometimes be difficult to deal with, due to a non-ideal organization system. VDR will move all data into programs instantly with bulk uploads, and it automatically formats and indexes all files and provides a smart search function. Provide easy access to files for both your employees and potential clients. All documents are automatically synchronized with each other, and you can track changes to a document with instant notifications or change tracking features.
The program also provides process transparency with monitoring features and integrates the program with other useful applications.