VDRs Items to Assume

The significance of IT helpers in business must not be undervalued. Several researches prove that using digital technologies does not only increase the speed and effectiveness of major business procedures, but is the required condition of staying competitive in the market. Among the most advantageous virtual tools for business sector is a virtual repository. Let`s check which way it can be useful.

Online data room is the recent development that has gained the huge acceptance during the last decade. Though primarily created for processing mergers and acquisitions, it soon got frequently applied in the other spheres with the same success: clinical studies, fundraising, legal affairs, real estate, biotech, etc. The major advantages of the technology are its comfortable operation and privacy: users have a possibility to work with the virtual data room at any time any moment, from any location, and without concerns about a sensitive data being safe.

When it comes to choosing the virtual solution for processing deals, it is much important to check on the characteristics and features it has to be sure this VDR can surely be advantageous for the certain users – more about secure data rooms. The key functions to look for in a trusted VDR are the following ones:

Information encryption

Different virtual services providers apply various security tools for ensuring the files safety, but data encryption is always among the standard ones. This measure involves encoding the data kept in the data room in order to make the text unreadable for unauthorized users in the repository. This is the most important anti-hacking step that is a necessary condition for any data room. The distinction can only be in the standard of encryption which was used: the most recent is 256-bit, but 128-bit is also very secure.

Digital watermarking

If encryption is viewed as a protection from improper viewing, watermarking is a protection from illegal distribution. Electronic watermarks attached to the documents contain the information about their owning organization so the copyright is carefully protected. The digital watermarks might be dynamic and, in this case, they can collect the information about the accesses to the documents that took place.

Complex verification

The greatest way to protect the VDR from hackers is not to give them any chances of even viewing the data. To achieve this, many reliable VDRs use complex verification process , which proceeds in 2 stages: using a permanent password and entering the code which was sent right to his smartphone.

Activity monitoring and reporting

This feature does not only give an opportunity to control what exactly proceeds in the VDR, but also gives a feedback regarding the partners` level of interest in the deal. Tracking instruments which are used in a chosen data room mostly allow data room owners monitor the activities in the virtual storage and make conclusions about the most active parties. This information is highly valuable in M&A transactions when the result of the whole deal may be influenced by the well prepared final negotiation.

Rights management

With a VDR, there exist no chance for participants to gain access the inappropriate files. The data room itself takes control of the work and can make definite documents inaccessible for definite system users. The necessary step that should be made in the beginning is defining the permissions for all the system users, and the instructions will certainly be rigorously followed.

Q&A space

The mentioned module has been specifically included to arrange online-based interaction between users. This way of interaction does not only help to minimize time losses, but also increases the security of the discussed information. To benefit users even more, Q&A space can be equipped with the e-mail notifying system and document linking feature that offers a possibility to use the stored files in the Q&A space.

Customized interface

Some VDRs have standard interface that can`t be corrected, the other give some chance of customization. Together with variations in settings made by certain users, the company that possesses a data room has a chance to define its own interface. To make the VDR easily recognizable for existing and future partners, large companies apply their logo and organizational colors.

The mentioned functions are definitely important for document safety and efficient working. While the first three are used for ensuring the documents security, the other ones relate to the means of using the data to make the deal fully controlled and beneficial.

Online data room is a software that can perform a revolutional change in information storing and distribution, managind transactions, and interacting with business partners. If you have set your sights on improving the quickness and effectiveness of your business procedures, start choosing a reliable virtual data room right now and be sure to get the profit tomorrow.