Under the pressure of on-going technological development, normal ways of business development are being altered. Just a few decades ago businessmen were expected to organize physical data room to share any confidential documents with their potential partners or they were expected to hand all the documents individually during face-to-face meetings. However, with the emergence of virtual platforms, a new way of information exchange appeared.
A virtual room is an online repository for digital copies of sensitive corporate files and the entrance to the repository can be opened for selected groups of stakeholders. Ordinarily, VDRs are protected with all-inclusive security system. Thus, you do not have to fear any data leakage, unauthorized sharing, misuse, destruction, loss, etc. Data safety is provided by such functions as data encryption, regular backups, dynamic watermarks, virus scanning, two-step user verification, firewalls and various other specific functions inherent to decent virtual data rooms.
Aside from military-level data protection, a virtual room is also known for constant accessibility: you have an opportunity to enter the platform 24/7 worldwide and keep on working even outside the office via your mobile devices. Therefore, you have an opportunity to share documents with your cross-national investors, employees, partners, etc. in a few clicks and that the fulfillment of the operation is constantly in progress: there is no need to take irritating business trips and to take part in individual negotiations. In addition, if you utilize virtual repositories for sharing your confidential corporate information you have a chance to comment on all the files directly within the platform owing to Q&A section. >>>
Also, a virtual data room provides you with a highly functional space for work. The room is commonly supplied with a variety functions that accelerate and facilitate the course of the deal. For this reason, you will not manage to miss advantages guaranteed by progressive search functions, filtering functions, in-document linking instruments, by integration with certain software such as Microsoft Office. All these instruments allow you to use the VDR intuitively, to adapt the virtual data room to your own demands, to investigate files directly in a platform. So, a room offers you the environment which is both suitable for staying in touch with the potential partners and investors and for individual performance.
When it comes to communication with your partners, you must not bother with setting up a few VDRs for particular projects. The virtual data room gives you a right to sort room visitors into diverse groups and to share only some files with certain groups. That is why, one platform is enough for concurrent execution of numerous deals. Moreover, all the room user can browse the documents concurrently and none of the operations is being neglected due to the platform being occupied by the users dealing with the other project.
In addition, when exploiting a virtual repository you are sure what takes place in your virtual repository: activity tracking function leaves not a single action without attention. So, whatever a room visitor performs within the VDR – browse, download, modify documents – it is captured and included in an audit report. The report gives you an opportunity to find the most active bidders, to track what your employees do, etc.
The other beneficial characteristic of virtual platforms is that you can make your virtual platform consistent with your company’s image by embedding logos in reports, emails, other files, by designing your room in corporate colours, etc. Thus, by setting up a specially designed website, you make your VDR mirror your company online to all the potential partners and investors internationally.
The features named above make it clear to some extent why virtual rooms are becoming popular and why deal-makers switch to the exploitation of virtual rooms. These digital storages can be adjusted to your operation’s requirements and make the deal be fulfilled faster. At the same time, virtual data rooms remain not that expensive and you always know that you are paying only for the traits you need to complete your goals. So, there is not a single reason to ignore virtual rooms and to to remain faithful to old-school ways of making business. Avant-garde nature of VDRs will open new horizons to you and your business!
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