Many people are familiar with file sharing services like Dropbox or Google Drive. However, they’re not as user-friendly and secure as an enterprise-grade VDR which has been designed specifically for use in business. Users can collaborate securely on documents in real time and immediately debar access if there is any security breach. A VDR also lets administrators get detailed reports on document activity, including the amount of time each document was reviewed and by whom.
Many business rely on a virtual data space to facilitate complex financial transactions as well as other critical processes. Investment bankers, VCs and private equity firms frequently study multiple deals simultaneously which generates huge amounts of information that requires organization and secure distribution.
A virtual data room is a way to streamline due diligence and identify important trends.
Mining and energy companies also have large volumes of data shared with regulators and investors. Using a VDR for business, it’s simple to manage access and ensure compliance. A VDR provides more secure online security than any cloud service and includes features like fence view, built in redaction, granular access, and remote shred. A reputable business-focused provider of VDRs can also provide 24/7 support and immediate assistance if an issue arises.