Modern business has long been gradually moving to remote online work, but pandemic events have forced us to adapt to the new conditions at an increased rate. Each event leads to additional challenges, and in the case of remote work, companies have been faced with the issue of cooperation and secure document sharing. Virtual data room is exactly the solution that can solve most of today’s problems and improve the level of your company. In this article, we will examine how exactly it helps to do this.
What is a virtual data room
A virtual data room is a highly secure online space that is designed to store and share sensitive company data. The space is easily set up and controlled according to your preferences. This way, each company can create its own unique data protection system. VDR offers features that allow you to manage business transactions remotely without the need for face-to-face stakeholder meetings. Typically, this software is used for financial, legal, and corporate matters as well as various transactions. The most frequent use of VDRs is observed during the process of mergers and acquisitions, where companies have to go through many steps before reaching an agreement.
So, data room software is ideal for managing complex projects that involve secure storage and exchange of sensitive data with third-party users. Spaces are highly flexible and allow access to their contents from any location and any device.
What VDR features can help optimize your work?
A virtual data room is a unique solution, it has no worthy alternatives at the moment. That’s because no one has ever managed to surpass VDR in terms of security, simplicity, and convenience. Below we will describe in more detail the main features of data rooms, which will provide you a comfortable remote work:
- Strong level of security
The level of security of VDRs is comparable to that of a bank or military system, the solutions of the best providers are confirmed by international security certificates that show compliance with all regulations. VDRs use data encryption and dual authentication to protect against data leakage.
- Controls use and sharing of documents
Data rooms allow administrators to line up access to all data. That way, you can decide who has access to what information. In addition, you can also block copying, forwarding, downloading, and printing to all users without exception. That way you can be sure of the safety of your documents. It also greatly reduces the risk of human error during document management.
- Activity Monitoring
The administrator of the space has access to monitoring logs, in which all the events that took place within the program are recorded. With it, you have a complete picture of all events and reports of all actions. You can see who is really interested in the deal and who is not worth wasting time on, you can also catch suspicious actions or correct mistakes. The audit trail can also be great evidence in case of litigation.
- Easy document organization
During transactions, you’ll need to pull up a large number of documents, but if they’re poorly organized the audit process can drag on for a very long time. VDR helps you organize your data quickly and easily with automated uploading, formatting, and indexing functions. Create a document schema that’s sure to be user-friendly and easy to understand, space for you to do nothing. Find the document you need in a couple of clicks with the smart search feature.
- Brand Promotion
The best VDRs offer their clients a customizable interface to help customize a branded VDR site. This helps to market your company and increase its visibility.