The significance of IT tools in business must not be undervalued. The numerous researches confirm that using IT helpers does not only increase the quickness and efficiency of main business procedures, but is an important condition of staying competitive in the market. One of the most sophisticated virtual tools for business is a virtual data room. Let`s check which way it can help your business.
Virtual repository is the novelty that has earned the incredible popularity within the last ten years. Though initially designed for dealmaking, the technology quickly became actively used in plenty of other areas with the unchanged success: clinical studies, fundraising, legal practice, real estate, biotech, etc. The key advantages of the software are its comfortable operation and security: users have an opportunity to work with the data room at any time any moment, from any location, and having no concerns about a sensitive data being safe.
When it comes to choosing the service for supporting business transactions, it is much recommended to learn more about the main characteristics and options it has in order to be sure it can surely bring benefit to your client – more about free virtual data room. The most in-demand features to expect from a sophisticated VDR are the following:
Various vendors have different safety-related technologies for achieving data protection, but data encryption is among the most traditional ones. Encryption involves encoding the data placed in the data room to make the text unreadable for those users who are not authorized in the VDR. It is the main anti-hack action that is a required element for all the virtual data rooms. The difference can only be in the standard of encryption that was used: the latest is 256-bit SSL, but 128-bit is considered highly secure as well.
If encryption is viewed as a protection from unauthorized data accessing, digital watermarks is a protection from improper distribution. Electronic watermarks enclosed to the documents contain the data regarding the document`s owners so the copyright can be carefully protected. These watermarks can be dynamic which means that they can keep the details about the previous accesses.
Two-way authorization process
The best way to secure the data room from hackers is to restrict their chances of even gaining access to the data. To achieve this aim, many trustworthy providers apply two-step logging-in process , which has two parts: entering a common password in a combination with typing down the generated code sent directly to the user`s mobile device.
Performance monitoring and making visual reports
This function does not only help to control what happens in the VDR, but allows to get a feedback regarding the parties` interest in the transaction. Tracking tools which are used in a chosen VDR usually allow data room owners monitor the activities within the virtual space and build conclusions about the most concerned parties. The gathered information is specifically valuable in dealmaking when the success of the transaction depends on the well considered negotiations.
Digital rights management
With an online repository, there is not any chance for participants to gain access the inappropriate files. The VDR itself controls the work and can make certain documents impossible to view for the chosen users. The necessary step that must be done in the beginning is determining the permissions and restrictions for the data room users, and they will be exactly followed.
Questions & Answers module
The mentioned section has been specifically created to arrange online interaction between partners. The offered means of interaction does not only allow to save time, but also adds to the security of the discussed information. For users` convenience, Q&A space might be combined with the users` notifying system and document linking feature which gives a possibility to link the certain files to the Q&A space.
Certain virtual data rooms offer standard interface that cannot be customized, some other suppose some possibility of customization. In addition to variations in settings made by the definite users, each organization that has an online data room has a chance to select its chosen interface. To make the virtual repository easily recognizable for current and potential clients, well-known organizations use their logo and organizational colors.
These seven features are truly valuable for files security and easy management. While the first three ones are specifically intended for arranging the documents security, the other ones relate to the means of using the information to make the deal better controlled and advantageous.
Virtual repository is a solution that has a potential to make a revolutional change in information storing and distribution, managind transactions, and building business relationships. If there is a need for improving the speed and productivity of your business procedures, begin looking for the appropriate online solution right now and be sure to get the profit tomorrow.