The significance of information technology solutions in business can hardly be overvalued. The numerous research works prove that using IT helpers does not only improve the speed and effectiveness of most business transactions, but is the only condition of keeping a leading position among competitors. Among the most advantageous technologies for organizational activity is a virtual repository. Check how it can benefit your business.
Online data room is the recent development that has earned the incredible popularity lately. Having been initially designed for dealmaking, the VDR quickly got actively applied in plenty of other areas with the unchanged success: clinical studies, fundraising, legal affairs, real estate, biotech, etc. The major advantages of the software are its convenience and confidentiality: users are able to work with the virtual data room anytime, from any location, and without concerns about their data security.
When it comes to choosing the platform for processing deals, it is most important to get well acquainted with all the main characteristics and functions it has to make sure this VDR can certainly bring benefit to the client – more about secure dataroom. The most popular features to require from a good VDR are the following:
Various providers offer various security measures for ensuring the data protection, but encryption is always among the most common ones. This measure supposes encoding the data stored in the VDR to make it unreadable for unauthorized users in the repository. It is the most important anti-hack action which is a necessary element for any data room. The difference can only be in the encryption protocol used: the most recent is 256-bit, but 128-bit is considered also very safe.
While data encryption is a protection from unauthorized viewing, watermarking is a protection from improper sharing. Electronic watermarks enclosed to the files keep the data about their owning organization so the rights is carefully protected. These digital watermarks might be dynamic and, in this case, they can collect the information about all the accesses that have taken place.
The most trusted way to secure the virtual data room from hackers` attacks is to limit their chances of ever viewing the data. To achieve this, most reliable providers apply two-step authentication that happens in two stages: typing down a common password and entering the code which was sent straightly to his smartphone.
Performance monitoring and reporting tools
This option does not only give a possibility to control what exactly happens in the VDR, but also provides the information regarding the partners` engagement in the deal. Monitoring instruments that are used in a certain virtual data room usually let owners monitor the activities in the virtual space and make conclusions about the most active participants. The gathered information is especially in-demand in dealmaking when the result of the whole deal may depend on the properly prepared negotiations.
With an online repository, there can be no chance for users to gain access the improper files. The system itself checks the work and makes certain files inaccessible for definite system users. The important step that has to be done in the beginning is defining the restrictions for all the system users, and the instructions will certainly be exactly followed.
Questions and Answers section
The indicated section has been purposely designed for ensuring online interaction between users. This means of interaction does not only let to save time, but also increases the security of the discussed matters. To benefit users even more, Q&A space might be combined with the e-mail notification system and in-document linking that gives an opportunity to take the files stored in the VDR into the Q&A space.
Certain data rooms have standard interface that cannot be customized, the other allow partial or full possibility of customization. As well as variations in settings made by the definite users, each organization which owns an online data room has a chance to define its chosen interface. To make the virtual repository easily recognizable for current and future clients, some companies use their logotypes and company colors.
The listed options are much valuable for document security and successful management. While the first three are specifically intended for arranging the documents security, other four concern the means of using the data to make the working process better controlled and beneficial.
Virtual repository is a software that has a potential to perform a revolutional change in data storing, processing transactions, and building business relationships. If you observe the necessity for improving the speed and efficiency of your business procedures, start selecting the appropriate online solution today and be sure to get the benefits tomorrow.