Business & FinanceTechnology
Virtual Data Rooms: Everything You Need to Know
If you need to store or share your documents, one of the best available solutions is looking for a secure virtual data room service, or simply, a VDR. Like this, users will have access to controlled means of sharing confidential or public content and basically, you will replace all those documents rooms that a lot of companies still use.
Being very easy to set up, as the scanned data and existing electronic files can be mixed or the information added or eliminated at any time, with docurex virtual data room, all your information can be restricted to any or all registered viewers at any time. The docurex data room solution is the best virtual data room for your business needs.
How it works?
Like mentioned above, it’s very easy. You just need to sign for an account, receive the email and click on the activation link. As soon as your account is activated, you can enter your virtual data room and begin uploading all your important documents and files. Most of them have a bulk upload feature, so don’t worry about the time needed for this, as you can load more documents at once.
After this, you’ll need to designate the admins and give them permissions to access the files. Last but not least, users also need to be given permission to view the information, while you will be able to track the files they have accessed.
As you can see, everything is way simpler with a virtual data room and our recommendation would be to forget about the old physical data rooms and consider this service now or for the future!
Well established data room is designed to make your document exchange quicker, simpler, and more secure. Whether your needs are M&A buy-side or sell-side due diligence, electronic PPM distribution, bankruptcy / restructuring, or project collaboration.
Benefits of Virtual Data Rooms
Before switching from a physical data room to a secure virtual data room, one must be aware of the benefits of virtual data rooms.
So, besides the obvious financial advantages, what are the other benefits of using a virtual data room?
Well, first of all, the numbers of persons using it is way bigger than on a physical one, since everybody with a PC and access to the room can use it. Not to mention that it’s available 24/7 and can be accessed from anywhere in the world.
Just think that conventional physical data rooms restrict the access simply due to its physical location. With a virtual one, bidders or buyers can be from different countries or continents but can access it at the same time.
Secondly, let’s not forget that the improved accessibility also brings an increased speed of transactions.
Next, the administrator of a virtual data room has an increased control and understanding of everything that’s happening, so the common errors found in using a physical data room are not a subject of the past.
The security of a virtual data room is also increased. For those who are skeptical about this, they should know that all the information cannot be downloaded and taken away. No, not at all. Everything can be viewed by a user with all the permissions, but there’s no such thing as downloading everything.
Last but not least, you need just a little time to set everything up, as all the data can be mixed, added or eliminated at any time.
As you can see, a virtual data room has exactly the same strengths as a conventional data room, with more pluses added. Also, it doesn’t have the disadvantages of a standard one, and by this we mean being in a fixed location, with people needed to move documents from place to place.
Most virtual data room service providers offer a wide range of services such as data management, data security, storage and sharing. Some additional features include data watermarking, advanced data encryption, and two-factor user authentication.
The best VDR providers have military-grade security, data integration, multilingual support, and advanced search capabilities. Worldwide data room provider offering free trials so businesses can test the services to determine if it’s suitable for them. This eliminates the potential for risky services that do not meet specific needs.
If you’re still not sure about changing to a virtual data room, the reasons presented above should be enough to convince you that this will bring only benefits to your business!