Cloud platforms are a simple and convenient way to store and share data. Still, they are not suitable for business purposes because they do not meet all security standards and do not have extensive functionality. A virtual data room is also online storage; however, it has several features that fundamentally distinguish it from other cloud spaces. They are incredibly convenient, flexible, feature-rich, and, most importantly, secure platforms for storing and sharing sensitive data. In this article, we’ll look at the main elements of VDRs and what their benefits are.
Document control features are the base that is embedded in all quality virtual data rooms. The security of this program is not maintained or controlled by your IT department, and its security features work on any operating system. In addition, VDR uses bank-level data protection and offers granular permissions features. These features allow you to control each user’s actions based on their responsibilities in any particular project or transaction. For example, a group of lawyers will only see documents not relevant to their work. To avoid distributing your data to third parties, you can also prohibit copying, printing, uploading, and forwarding functions.
In addition, VDRs offer several other security measures, including:
- Data encryption
- Digital watermarks
- Double authentication
- Permanent backups
- Self-destructing documents
- Limitation of users by IP address
- Setting document access times, etc.
Simplified document organization
Managing a mountain of documentation isn’t easy – whether it’s physical or digital. However, the data room helps you simplify your paperwork and make sure you don’t do too much monotonous work. In addition, it offers you automation features that make building a quality document system a breeze and won’t take much time:
- Load any amount of data – all at once, with bulk upload and drag-and-drop functionality
- Don’t waste time converting to the correct format, as VDRs typically do it automatically or support multiple formats. You can also upload videos, images, presentations, tables, charts, etc. to the space
- Automatic indexing takes place immediately after uploading and helps you organize your documents logically
- Smart search – for finding the correct file faster
These features also help speed up due diligence and other transactions.
Monitoring user activity
VDRs provide administrators with audit logs where they can see all the details of user activity over some time. This keeps you safe from internal threats, but it also provides valuable data for analytics that can help quickly identify interested users and identify problems among employees, if any.
Data rooms provide a valuable feature – namely, reducing or even eliminating the need for face-to-face meetings. Instead, you will be able to discuss all critical issues without leaving your offices via encrypted chats or a question-and-answer section. Also, you will have no problem sharing the document and leaving your annotations, notes, and comments. Some VDR providers even offer video calling features whose traffic is securely protected from eavesdropping or hacking.
Seamless technical integration
To make it easier for you to implement a new system into your business, VDRs offer integration features with your business programs. This will also provide a more seamless, convenient, and efficient experience. For example, the single sign-on feature will allow users to quickly move from project to project with a single click.