For business owners, data security is the most important need, but it used to be not so easy to achieve. Cloud storage or servers for sharing documents have their obvious disadvantages, which would not allow a company to carelessly exchange documents with third parties. But with the advent of virtual data rooms, everything has changed, these spaces have changed the way we approach transacting and provided organizations with improved security and data management tools. In this article, we’ll look at the main pros of using VDRs.
Secure Data Protection
VDRs were created to store and share sensitive data across a wide variety of business transactions, and therefore their security capabilities are far superior to other alternative data spaces. VDRs have highly secure storage centers, but the platforms themselves are also certified to international security standards. Other security features include:
- Built-in anti-virus – automatically scans documents for viruses during download
- Data encryption -reduces the risk of data leakage and tampering by encrypting documents during storage and transmission, making them invisible to unauthorized users
- Backup -Comes in permanently and preserves data integrity in case of loss or damage
- Access and interaction control – allows you to control the visibility of the document and actions with it for any user. Can prohibit copying, printing, loading, uploading, forwarding, and editing the document to prevent data from getting into the wrong hands
- Watermarks – indicate your copyright, reduce the risk of leakage, contain information about the user who uploaded the document
Thus, your data is under multiple layers of protection, and if used correctly, VDRs can help make your documents virtually invulnerable.
Speed of transaction
Using the VDR tool allows you to remotely manage and close transactions in half the time. You also save significant costs this way. Data rooms allow for faster transactions thanks to tools such as:
- Mass upload – upload any number of documents to the VDR space in one click
- Automatic formatting – makes uploading files easy, because it converts documents to the right format by itself
- Automatic indexing – number your documents in the order they arrive in the space, thus putting your data in order
- Limited folders and subfolders – you are free to structure your data the way you want, without limitations, and by using tags you will significantly reduce the time to find the right file for your colleagues or partners, as you can categorize folders with them
- Smart search – find any file using keywords in seconds
- Collaboration tools – let you talk freely about important issues with potential partners in a Q&A session or encrypted chat
VDR allows space administrators to look at the big picture and help them understand what to expect from a particular deal. The data room provides a report of all the actions of other users, including the time in and out, the time spent in a particular document, and its action with the document. So you can see the level of interest of a third party, someone’s suspicious behavior, or your own mistake which you can correct in time.
VDR provides ease of access for authorized users from any location and device. Your potential partners will surely appreciate the comfort with which they can use the platform without the need for live meetings. The program interface is as easy to understand as possible and is geared towards users with an average level of technical knowledge. VDR’s automatic notifications always report any changes or updates to the space to keep everyone up to date.