There is an abundance of different technological solutions for business management on the market today, as the trend of digitalization and remote collaboration is gaining momentum. Companies are looking to store their data online to gain instant access, save time and costs, and share it with partners at any distance. However, this method of document management has its pitfalls, such as security threats and data leakage. Not all digital solutions can offer you reliable security along with convenient management tools, but you can rely on a virtual data room.
Virtual Data Room – More Feature
A virtual data room is a cloud-based digital space. It has a secure repository where organizations from all fields can store their sensitive data. In addition to the storage function, VDR performs many other operations that will help improve and simplify your operations, increase company productivity, and speed up transactions. Data room functionality also includes document organization and management, collaboration tools, and security management, with VDR providing a comfortable environment for processes such as due diligence, mergers and acquisitions, post-integration, IPO, fundraising, and real estate transactions.
VDR is the leading business tool that guarantees the best level of security among any other document management alternative. Below we take a look at the main features of VDRs and their typical functions.
The convenience of using a data room is that it allows you to create centralized data and keep everything you need in one place. You do not need to use any external solutions to interact with your documents, which increases their security. VDR provides the following data management capabilities:
- Drag or Bulk Download – VDR providers provide one of two features that make it easy for companies to move huge amounts of the document into the program space. You’ll be able to download everything you need in a few clicks
- Integration – These solutions can be integrated into the OS or browser for better usability
- Smart full-text search – lets you find the file you need by keyword in a couple of seconds
- Auto-formatting or support for all file formats, so you won’t waste time formatting your documents manually
- Indexing – helps you organize your documents logically and categorize them for better adaptation and search process
When it comes to the digitalization of business, the main issue that all companies face is security. VDR programs are useful because they have the highest security score to date, and here are some of the features that make them so:
- Encryption – encrypts documents as soon as they hit the space, data remains encrypted 24/7 both during storage and during the exchange
- Remote control -the room administrator can easily lock out access to a document at any time, even if it’s been uploaded to a third-party device
- Adjustable security level -Limits users’ ability to interact with documents depending on their duties, can prohibit copying, editing, uploading, printing, or transmitting the document
- Watermarks – an excellent tool for data leakage protection, protects company copyrights
Simplicity and ease of use
Despite the comprehensive capabilities of VDRs, they are very easy to understand and use. Users can easily interact with each other using it and adjust to using it in just a couple of days:
- You don’t need to download additional software to use VDR
- Easy access -authorized users can log in from any device and from any location
- Multilingual Format – Use VDRs regardless of your country