Any entrepreneur knows that company data is the most valuable thing you need to protect. But the most common mistake many business owners make is storing sensitive data in the usual cloud storage, or in folders on their computer. These ways are very insecure and put your company at risk, today there is another 100% surefire way to keep your valuable data safe and secure, the virtual data room. In this article, we will explain how VDR works and what it offers to protect your organization.
What is a virtual data room?
A virtual data room is an online storage facility that serves to both store and share files within this online space. When you upload documentation to VDR it can also be structured as you wish, allowed to be shared, and have strict monitoring of the activity by controlling access to the information. VDR is a great solution for many business processes where secure file sharing is a must.
It is possible to store any kind of information including financial reports, intellectual property, and more in the data room. But in addition to the security and storage function, VDRs are also used for mergers and acquisitions, fundraising, and due diligence.
Why do you need a VDR?
Whoever has used VDRs for their own purposes, can vouch for the fact that virtual data room services make you forget about the security of your confidential data forever. Even the largest and most popular organizations trust data room because it has all the features they need for complete control and secure operations:
- Document access control
- Ability to upload a large volume of documents at once
- Tracking activity within the VDR and automatically maintaining a report that is provided to the administrator at the end of the month
- Secure document sharing with potential partners or buyers
The most common use of virtual data rooms is for organizations such as:
- Investment bank
- Foundations and Private Equity
And that’s not the entire list of areas in which VDR services are applicable.
What can VDR offer?
Below we’ve provided a list of the key features that VDRs have used to protect vulnerable data in various organizations over the years:
VDR’s level of security is every bit as good as that of banking systems, so when you decide to purchase data room services you are guaranteed to get the best data protection. VDRs use multiple layers of protection and additional safeguards such as self-destructing files, backups, and watermarks.
Some automated VDR features are designed to reduce the chance of human error to zero, thereby simplifying the manual work of employees. Administrators have the right to control document permissions, such as prohibiting printing, forwarding, and copying of the document to avoid data leakage.
The administrator also has the right to decide what permission to give to a certain user so that only those for whom the document is relevant can view it.
- Ease of use
When you start a process that requires a lot of document sharing and viewing, organizing the documents properly is very important. Document systematization and smart searching saves you a lot of time and increases the efficiency of your company.