Main features of virtual data rooms
Many business owners still doubt a lot whether they need a virtual data room or not. And this uncertainty is quite understandable. A data room costs money while some generic cloud storage like Dropbox or Google Drive can be used for free. Of course, such online repositories allow to save up some money. But at what cost?
The most significant disadvantage of generic storages is that they’re not safe enough. There are so many episodes of personal data stored in such repository getting stolen and spread around the Internet, that you just can’t rely on this technology. Data leaks are expensive enough for company owners not to trust generic cloud storages their sensitive corporate data.
Virtual data rooms, on the other hand, are secured with the most robust encryption possible. Providers protect not only the storage itself but the data transfer ways, too. So there is no chance for malefactors to lay their hands on the corporate documents.
Besides that, VDR providers offer additional security features like multi-factor authentication, watermarks, fence-like overlays, secure spreadsheet view mode, and many more. Also, the owner of the data room has complete control over who has access to the files and what actions can they perform.
Users can view, comment, edit, download, print and share the documents depending on the level of access they have. And the owner of the VDR what actions did other team members perform and how much time did they spend working with data. Every interaction is recorded precisely to the second. Such reports can give useful insights on how to improve the workflow.
Data rooms boost the teamwork significantly. Users can chat within the VDR, and the conversations will be as secure as data is. Additionally, there is a Q&A section where team members can address their questions and find answers to the frequently asked ones.
Virtual data room providers offer extensive support that covers both generic questions and unusual situations. The support team is usually available 24/7 and is ready to guide users through every process they have issues with. The round-the-clock availability allows businesses to get a vendor based in any country without any worry about time zones.