Under the influence of continuing technological progress, normal ways of business conduct are being transformed. Just a few decades ago deal-makers had to open physical data room to exchange any documents with their stakeholders or they had to share all the documents in person in a course of face-to-face meetings. Though, with the emergence of virtual rooms, a new way of documents sharing emerged.
A virtual platforms is digital storage for digital copies of confidential corporate files and the entrance to the virtual platform can be opened for particular groups of users. Traditionally, virtual rooms are equipped with all-inclusive security system. Therefore, you should not feel anxiety about unauthorized sharing, misuse, loss, destruction, data leakage, etc. Data security is ensured by such features as data encryption, firewalls, virus scanning, two-step user verification, dynamic watermarks, regular backups and a few other efficient instruments intrinsic to sophisticated virtual rooms.
In addition to complex data safety, a virtual data room is also known for instant accessibility: you have an opportunity to enter the VDR whenever it is convenient for you all over the planet and continue to work even outside the office via the mobile application. It means that you have an opportunity to exchange documents with your foreign employees, partners, investors, etc. without any additional efforts and that the execution of the operation is all the time in progress: there is no need to take time-consuming business trips and to participate in personal negotiations. In addition, in a case you use virtual repositories for sharing your confidential corporate information you have a chance to discuss all the information directly within the VDR due to Q&A section. >>>
Moreover, a virtual repository constitutes a fully equipped workspace. The VDR is normally equipped with a variety functions that accelerate and facilitate the whole process of deal-making. For this reason, you will not manage to miss advantages brought by efficient search instruments, filtering options, in-document linking tools, by integration with Microsoft Office. All the listed tools allow you to exploit the virtual data room intuitively, to adapt the virtual data room to your own requirements, to investigate documents directly in a virtual repository. Hence, a platform provides you with the virtual place which is equally suitable for dealing with the stakeholders and for individual performance.
When dealing with communication with your partners, you are not expected to be anxious about organizing multiple virtual data rooms for all the new operations. The platform gives you an opportunity to sort those who have an access to the room into permission groups and to share selected documents with selected groups. Hence, one room is more than enough for concurrent execution of diverse projects. Moreover, all the stakeholder can browse the documents simultaneously and any of the operations is postponed due to the room being overcrowded with the potential partners working on the other project.
Also, when using a virtual platform you remain updated about what happens in your data room: activity tracking option registers all the actions that take place inside the room. So, whatever a room visitor performs inside the virtual data room – view, download, change files – it is captured and included in an audit report. The report gives you a chance to find the most concerned users, to monitor actions of your employees, etc.
Noticeable and peculiar feature of virtual repositories is that you are allowed to make your room consistent with your company’s identity by using logos in emails, reports, other documents, by designing your virtual room in certain colours, etc. Therefore, by opening a branded webpage, you make your virtual room show your enterprise online to all the partners all over the Earth.
The traits named recently make it clear to some extent why rooms are attracting attention and why businessmen switch to the exploitation of virtual platforms. These online spaces can be adapted to your transactions‘ requirements and make the deal be finished without any troubles. At the same time, virtual rooms continue to be available for reasonable prices and you can say for sure that you are paying only for the traits you lack to complete your goals. Therefore, there is not a single reason to avoid virtual rooms and to to be faithful to old-school ways of deal-making. Innovative nature of virtual platforms will open new horizons to you and your business!