Virtual repositories have affected the habitual patterns of making business crucially. With the launch of first VDRs, businessmen got a chance to exploit virtual environments that are characterized by almost no limitations. Starting from this moment, deal-makers do not have to overthink if they have enough time to organize the storage, if they have enough money, if they have enough room to store all the documents. In addition, geographical location has stopped being an obstacle. Virtual data rooms have offered businessmen all the adequate tools that give them a chance to concentrate on their work and to stop worrying about the technical nuances of the project execution.

First of all, VDRs are accessible 24/7 365 days a year all over the planet. Thus, time-consuming business journeys are not required and all the negotiations and meetings can take place in a virtual environment. Due to Q&A section, the deal participants may share their opinion on all the files and be sure that their thoughts have been delivered to the selected permission groups. Also, straightforward notifications inform users about new messages and comments that appeared in particular virtual talk so that they can join debate right away. In means that, virtual rooms provide deal-makers with all the instruments necessary to maintain an uninterrupted dialogue with employees and investors.

Moreover, VDRs are protected on multiple levels. It helps businessmen to relax and stop worrying about data protection. Two-step user verification, virus scanning, data encryption, firewalls, dynamic watermarks, and numerous other options guarantee security to the sensitive corporate information from misuse, leakage, destruction, loss, and unauthorized sharing. That is why, instead of being concerned with the security system businessmen have an option to pay attention to the deal itself.

In addition, virtual rooms offer their owners an opportunity to manage the level of access to the files each deal participant has. Due to this option, VDR owners have an opportunity to impose limitations and conceal specific documents and folders when they count them as irrelevant for certain users.In addition, the chance to disclose only certain files to certain users allows the room owners to accomplish numerous projects at the same time and to enhance their productivity. The latter is also ensure by activity tracking function. Due to this function, all the actions performed by all the VDR visitors are written down and showed in an audit report that shares with the room owners the existing data on the most engaged VDR visitors. Hence, the businessmen may pay more attention to the users that look more concerned with the deal. Today it’s clear that using dataroom is preferable to virtual data rooms: do not worry about software and pay attention to business.

The other important feature intrinsic to a VDR is its convenience and simplicity. Usually, virtual rooms are enhanced with the simple and uncomplicated interface that allows the VDR visitors to get used to working with a virtual data room in a few minutes. Also, all the documents are systematized and assembled into a well-planned file system so that the room visitor is not expected to deal with intricate repository. virtual platforms are facilitated with multiple options that expected to make the life of deal-makers even easier. Thus, bulk and drag-and-drop uploading tools allow the room administrators to modernize their rooms within seconds and to provide their stakeholders with the breaking news almost instantly. Meanwhile, filtering capabilities, advanced search options and in-document linking tool provide users with a possibility to discover the needed folder almost immediately.

Even though virtual data rooms are easy in utilization room visitors could need some help and might have some questions in regard to specific tools of a virtual data room. For this reason, a skilled support team and a dedicated project manager are usually prepared to consult the room users 24/7 365 days a year. They make sure that not a single imperfection or complication of the virtual repository leads to user’s inconveniences and influences the execution of the project. Thus, the room users are not supposed to feel anxious that their work would be spoiled due to misunderstanding or technical reasons.

Hence, virtual platforms are facilitated with a wide range of options that make them highly convenient environments for data storage, exchange, and discussion. As technologies become better day-by-day VDRs are being brought up to date on a regular basis and offer their users new beneficial functions that allow businessmen to stop worrying and to pay all the attention to the successful fulfillment of the project.

The role of information technology tools in the business world cannot be overvalued. Various researches prove that using IT solutions does not only improve the speed and efficiency of major business transactions, but is an important condition of keeping a leading position among competitors. One of the most advantageous technologies for business sector is a virtual data room. Let`s check how it can help your business.

Online data room is the innovation which has got the great popularity lately. Having been first introduced for M&A transactions, the VDR soon got actively applied in plenty of other areas with the unchanged success: clinical studies, fundraising, legal practice, real estate, biotech, etc. The major benefits of the software are its convenient operation and confidentiality: parties can work with the data room at any time any moment, from any location, and without worrying having no worries about the files safety.

When it is necessary the virtual platform for supporting business transactions, it is much recommended to check on the characteristics and functions it has to make sure this VDR can certainly be beneficial for the client – more about data-room. The most popular functions to look for in a good service are the following:

Data encryption

Different providers apply different safety-related technologies for achieving data safety, but encryption is always among the most traditional ones. This measure supposes encoding the information placed in the data room to make the symbols unrecognizable for those users who are not authorized in the data room. It is the most important anti-hacking action which is a necessary element for any data room. The variation might only be in the encryption protocol that was used: the most recent is 256-bit SSL, but 128-bit is also very safe.

Watermarking

If encryption is viewed as a protection from improper viewing, using watermarks is a protection from improper distribution. Special watermarks attached to the files contain the information regarding the document`s ownership thus the copyright can be easily protected. These watermarks might be dynamic which means that they can store the data about the previous accesses.

Complex verification process

The best way to protect the virtual data room from hackers` attacks is to restrict their chances of even gaining access to the data. To achieve this, many trusted vendors apply two-way verification , which supposes two parts: typing down a common password and using the code sent straightly to his mobile.

Activity tracking and making visual reports

This option does not only give a possibility to control what actually proceeds in the repository, but gives the information about the parties` engagement in the deal. Tracking tools which are used in a definite data room mostly let data room owners to monitor what happens in the virtual storage and make conclusions regarding the most concerned participants. The gathered data is especially useful in M&A transactions when the result of the whole transaction may be influenced by the properly considered negotiations.

Digital permissions

When there is a virtual repository, there is no chance for process participants to view the inappropriate documents. The data room itself takes control of the work and can make definite documents impossible to view for definite system users. The only thing that has to be made in the beginning is identifying the restrictions for all the participants, and they will be exactly followed.

Questions & Answers module

The mentioned section has been especially created to arrange online communication between users. The offered way of communication does not only let to minimize time losses, but also adds to the security of the discussed matters. To increase users` comfort, Q&A module might be combined with the e-mail notifying system and document linking feature that offers a chance to use the stored files in the Q&A space.

Customized interface

Some online repositories have standard interface which cannot be customized, the other allow partial or full possibility of customization. Together with changes in settings made by the users, each organization which possesses a data room can introduce its desirable interface. To make the VDR recognizable for current and potential partners, some corporations use their logo and company colors.

These seven options are truly valuable for files safety and efficient working. While the first three ones are specifically intended to ensure data security, four other ones concern the means of managing the information to make the working process fully controlled and beneficial.

A VDR is a tool which has a potential to perform a dramatic change in data storing, processing transactions, and building business relationships. If you observe the necessity for improving the speed and efficiency of business procedures, start choosing a reliable online data room right now and gain the advantage tomorrow.