Category Archives: virtual data room

Save Your Resources Fixing Attention on Your Business Projects instead of Thinking About Software Productivity!

Virtual repositories have changed the habitual ways of deal-making notably. With the development of first virtual platforms, deal-makers worldwide got an opportunity to utilize venues that are characterized by almost no restrictions. From now on, deal-makers have no reasons to be anxious if they possess enough time to open the room, if they have enough money, if they have enough space to keep all the files. In addition, geographical place of location is not an obstacle anymore. Virtual data rooms have offered deal-makers all the necessary functions that help them to to pay enough attention to their projects and to forget about the technical peculiarities of the deal execution.

Firstly, virtual rooms are accessible 24/7 all over the Earth. Hence, time-consuming business travelling are not needed and all the negotiations and meetings can be performed remotely. Due to Q&A section, the participants of the deal may talk about all the files and be sure that their ideas have been made accessible for the relevant virtual data room users. In addition, immediate notifications let the users know about new messages and comments that were added in certain virtual dialogue so they have a chance to contribute to discussion immediately. Thus, virtual data rooms help deal-makers to establish a continuous communication with employees and investors.

Moreover, VDRs are equipped with multi-sided security system. It helps businessmen to relax and stop being anxious about documents safety. Data encryption, firewalls, virus scanning, two-step user verification, dynamic watermarks, and other options protect the sensitive corporate data from leakage, misuse, unauthorized sharing, destruction and loss. Thus, instead of worrying about the security system the participants of the deal have an opportunity to concentrate on the work itself.

Moreover, virtual rooms provide their owners with a right to manage the level of access to the documents each VDR user possesses. With the help of this trait, businessmen have an opportunity to impose restrictions and hide selected documents and folders in a case they consider them as inappropriate for specific users.Also, the possibility to set up permission groups helps the room owners to execute a few transactions simultaneously and to augment their efficiency. The latter is also guaranteed by activity tracking tool. Due to this option, all the actions performed by all the VDR users are captured and reflected in an audit report that gives the room owners the existing information on the most engaged users. Therefore, the businessmen have an option to concentrate on the communication with the room visitors that create an image of more concerned with the transaction. In the modern world it’s clear that using electronic data room providers is the reason to spend your money focusing on your board meetings instead of thinking about software proficiency.

One more trait immanent to a virtual platform is its convenience and ease of utilization. Usually, virtual rooms are equipped with the convenient and uncomplicated interface that allows the users to adapt to work with a virtual platform within minutes. Moreover, all the documents are systematized and form a well-planned file system so the room user is not expected to deal with intricate repository. VDRs are enhanced with a big number of tools and instruments that may make the life of deal-makers even less complicated. Thus, drag-and-drop and bulk uploading instruments allow the deal-makers to modernize their virtual rooms with almost no efforts and to inform their stakeholders about the latest news in a few seconds. Meanwhile, filtering capabilities, advanced search options and in-document linking option offer users an opportunity to identify the needed data right away.

Although virtual rooms are convenient in exploitation VDR visitors could need some assistance and may have some questions about certain tools of a virtual data room. Hence, a experienced support team and a competent project manager are always willing to help the VDR users within minutes. They make sure that not a single imperfection or complication of the data room leads to user’s inconveniences and effects the execution of the transaction. Thus, the room visitors are not expected to be anxious that their project would be spoiled due to misunderstanding or technical reasons.

So, virtual rooms are enhanced with a wide range of tools that turn them into highly convenient spaces for data storage, discussion, and exchange. As technologies become better on a regular basis virtual data rooms are being brought up to date constantly and give their visitors brand new advantageous functions that allow the participants of the deal to forget about anxiety and to pay all the attention to the successful finish of the project.

VDRs Items to Expect

The significance of information technology tools in business can hardly be overvalued. Various researches state that using online tools does not only increase the speed and efficiency of main business processes, but is the required condition of keeping a leading position among competitors. One of the most in-demand platforms for business is a virtual repository. Let`s check which way it can benefit your business.

Virtual data room is the recent development that has gained the huge acceptance within the last decade. Being initially designed for processing mergers and acquisitions, it soon became actively applied in the other spheres with the unchanged success: clinical studies, investments, legal practice, real estate, biotech, etc. The main advantages of the software are its comfortable operation and security: parties have a possibility to work with the virtual data room anytime, from any location, and without concerns about their data being safe.

When it comes to choosing the platform for processing deals, it is most recommended to know all about the characteristics and features it possesses to make sure this data room can certainly bring benefit to the certain client – more about online data room. The most in-demand options to expect from a trusted VDR are the following ones:

Information encryption

Different vendors have various security-related tools for ensuring the files protection, but information encryption is always among the standard ones. It supposes encoding the information placed in the repository in order to make the text unreadable for unauthorized users in the VDR. This is the main anti-hacking action which is a required element for all the virtual data rooms. The distinction can only be in the encryption standard that was used: the latest approved standard is 256-bit SSL, but 128-bit is highly secure as well.

Watermarking

While encryption is a protection from illegal accessing, using watermarks is a protection from improper sharing. Electronic watermarks enclosed to the documents keep the details regarding the document`s owning organization so the rights is carefully protected. These watermarks might be dynamic and, in this case, they can collect the details about all the accesses that have taken place.

Two-step authorization process

The most trusted way to save the data room from hackers` activity is to restrict their chances of ever viewing the documents. To achieve this, most trusted VDR providers apply two-way authentication that supposes two stages: entering a common password in a combination with using the code sent straightly to his mobile.

Performance monitoring and reporting

This feature does not only allow to check what proceeds in the repository, but provides the information regarding the sides` level of interest in the transaction. Monitoring instruments used in a chosen VDR usually allow VDR owners to track what happens in the virtual repository and make conclusions about the most interested deal members. The gathered information is specifically valuable for dealmaking when the outcomes of the transaction depends on the well considered final negotiation.

Digital rights management

When there is a virtual repository, there cannot be any chance for participants to view the improper documents. The VDR itself controls the work and can make certain documents inaccessible for certain system users. The only step that must be done in the beginning is defining the permissions and restrictions for individual users or groups, and the instructions will be carefully followed.

Q&A space

The mentioned module has been specifically included for the purpose of ensuring online-based interaction between users. The chosen means of communication does not only allow to reduce time, but also improves the safety of the discussed information. To give an extra advantage, Q&A module may be combined with the electronic notification system and in-document linking that offers a possibility to take the files stored in the VDR into the Q&A space.

Customized interface

Some data rooms offer basic interface that cannot be changed, some other give partial or full chance of customization. In addition to settings variations made by the users, the organization which owns a data room may define its own interface. To make the virtual repository easily recognizable for existing and potential partners, some companies apply their logo and main company colors.

The indicated characteristics are absolutely valuable for document safety and successful management. While the first three ones are specifically intended to ensure data safety, other four concern the way of using the data to make the deal better controlled and advantageous.

Online data room is a software that has a potential to make a revolutional change in data storing, processing deals, and interacting with partnering organizations. If you have decided on improving the speed and efficiency of business procedures, start looking for a good online data room right now and get the advantage tomorrow.