Business companies are constantly involved in various processes that require exchanging confidential data, organizational information, communication between two or more parties, and collaboration. Since the advent of the Internet, everything has moved into the digital space, increasing companies’ mobility. Many business tools on the market help deal with information-intensive processes, but not all offer enough security. Virtual data rooms are one-stop solutions that provide everything you need for a smooth and efficient business process.
What are virtual data rooms?
Virtual data rooms provide a secure environment for storing and sharing sensitive documents. Thanks to advanced security technology, they allow you to communicate, forward information, and collaborate on documents while avoiding data breaches. VDRs are certified business programs that offer services for companies of all sizes and industries. They are used for due diligence, mergers and acquisitions, IPOs, fundraising, litigation, and many other transactions. They help you conduct expedited, efficient, and secure transactions with a wide range of advanced features.
Main Security Features
No process on the Internet can be successful if a high-security risk is involved. Therefore, data room software, above all, provides business owners with the confidence and reliability in which all processes will go much faster:
- Watermarks -protect against data leakage, as it allows marking a document with the date and name of the person who owns the document
- Self-destruct feature – administrator can revoke access to the document at any time
- 256-bit encryption – the most modern encryption method encrypts the document not only during transmission but also while in storage
- Data access restriction – allows you to control other users’ ability to download, print, copy, forward, edit and view
- Backup -supervises continuously so you can restore data in case of an emergency
- Virus Scan – Works automatically while downloading your documents and prevents harmful files from being downloaded
- Double Factor Authentication – Users go through a two-step verification process that requires an additional one-time code
Features of VDRs for process management
Virtual data rooms offer a variety of features to simplify document management and business processes. They automate routine work and save you time and effort. For example, VDR provides the following business process management features:
- Mass uploading – upload a large number of documents at a time
- Intelligent categorization – all uploaded documents will be automatically indexed for logical ordering and easy search
- Smart search – enter one or more keywords to find the document you need among thousands of others
- Document linking -link files for more convenience and share a batch of documents with others
- Microsoft Office integration -work with Word, PowerPoint, and Excel programs and documents and store them in VDR’s secure storage
- Question-and-answer section – a secure and efficient way to communicate in the data room space, where some users can leave their questions and others will be automatically notified so they can respond as quickly as possible
- Document Viewer with scrolling -saves time when viewing a large number of documents and allows you to view files in a single folder by simply scrolling through them, rather than closing and opening new tabs
- Task Management System – Task managers can assign tasks to their employees, set deadlines before they are due, and track progress. At the same time, employees will receive notifications of upcoming deadlines
- Document sharing – users can simultaneously make changes to a document, leave annotations and comments