The era of digitalization has brought with it many positive and negative changes. For example, businesses have faced the challenge of storing documents in a way that meets all modern requirements because physical storage and mailing packages of documents have long been outdated, and this process is much slower than data transfer via the Internet. However, the web harbors many dangers, and by using unreliable exchange platforms, businesses run the risk of getting trapped. The use of virtual data rooms has completely changed that, and in this article, we’ll look at what VDRs are in more detail.
History of the emergence of VDRs – definition of the concept
Before using the Internet in every aspect of our lives, business companies stored their confidential documents in designated buildings – these were called physical data rooms. They were heavily guarded 24/7, had employees working there, and required special permission to get into the archive. When a company decided to do transactions, the potential partners would come to these physical data rooms, wherever they were located, and spend an unknown amount of time there before reviewing all the documents and making arrangements to move on to the next stage. This method took too much effort and time, so virtual data rooms became a modernized and improved replacement for these buildings several times after digitalization. VDRs are digital spaces for storing and sharing confidential documents that enable complex business operations remotely and provide a company with a fully controlled environment with advanced security, automation, and business management features. Learn more about the benefits of the data room below.
Simplified access
Data rooms allow you to access your system (authorized users only) anytime, anywhere, and from any device. VWD supports any operating system and will enable you to examine documents and perform other activities even on the go. It’s much more convenient than flying across the country and staying in a foreign city for many days before resolving everything. It’s efficient, timely, and fast. In addition, the interface of the programs is aimed at the average user, so you won’t have any trouble adjusting to the new system.
Enhanced security
Security is a feature that has made VDR in demand. Among the plethora of cloud storage sites, only VDRs have the security certification to handle sensitive data. A layered approach to security protects your data from any external and internal threat while using the following features:
- Data encryption -encrypts document content, both at rest and during transmission
- Access and interaction permissions – allows you to regulate access, copying, printing, forwarding, and downloading of the document for each user depending on their responsibilities
- Digital Watermarks – protects the copyright of the user who uploaded the document to the programs
- Complex login system – protects the password from being cracked and asks for a one-time code during the log in
- Self-Destructing Documents – allows you to delete a document even if it has been downloaded to a third-party device
Useful management tools
VDR management features allow you to automate routine work and make it more efficient. For example, with automated uploading, virus scanning, converting, and indexing functions, you can create your document system and organize it better. In addition, the intelligent search will help you with the efficient search for the files you need.
In addition, VDR allows you to assign tasks and set deadlines for them, and monitoring features will enable you to track all user activities and work progress.
The communication features allow you to handle all personal issues within the space. Use the encrypted chat or the Q&A feature.