Nowadays, more and more people are moving to the online format of work. And business is no exception. Companies are beginning to share documents over the Internet, save important data in personal accounts, and conduct meetings over video calls. That is why it is crucial to find software that can bring all the necessary functions together and give maximum efficiency to the work process. This is what many business owners use data rooms for.
What is a virtual data room and why is it needed
A Virtual Data Room (VDR) is a secure online solution. Companies can download documentation and share it securely with employees and customers. These rooms allow only users to view information that is relevant to them, and you can set authorization options for each file you send. This allows the data to be exchanged confidentially between many people and companies.
So a VDR is secure online storage of information related to business, legal transactions, or litigation. Such solutions use a central server and extranet connection, which is a very controlled access Internet connection. It provides a secure login delivered by the respective supervising provider or authority responsible for disabling or enabling secure login at any time.
Users have the following requirements for modern virtual rooms:
- ease of uploading files to the system and sorting them into folders;
- clear functionality for downloading documents and viewing them in the data room;
- creating collaborative workspaces and assigning different levels of roles to participants;
- differentiation of access rights to files and restriction of a number of actions with documents (for example, a ban on printing or downloading from space);
- the ability to share files and folders with colleagues or contractors using generated links with the establishment of various restrictions (for example, link expiration dates);
- user-friendly interface.
The functionality of modern virtual rooms makes it possible to moderate user actions within the system and upload activity logs.
Heads of information security departments have different requirements. The security of such virtual environments is important, and it is ensured by well-thought-out technical characteristics.
Look at the review of the best virtual data room providers to learn more about the functionality of this type of software.
Data Storage Using Virtual Data Rooms
To keep documents, various file storages are usually used: a personal computer or various systems like Google Drive. As long as the documents are closed from prying eyes, they are quite well protected. But how to protect them if you need to give access to a limited number of unfamiliar people? For example, confidential documents when making various transactions, some financial reports, or documents related to tax or audit checks.
Many similar examples can be cited when it is important, on the one hand, to give access to documents, and on the other hand, to be sure that they will not be leaked or that the person who committed such a leak will be found.
For secure exchange, dataroom software is used, which makes it possible to differentiate rights and access to documents within the system, create a clear structure and establish a convenient exchange and work with files both within the organization (synchronization with AD / LDAP) and when interacting with counterparties.
Classic VDRs offer a standard set of tools, such as document viewing, downloading, printing, sharing, etc. File protection inside virtual data rooms occurs due to the differentiation of user rights, document lifetime management, and event logging. But the question remains how not only to be sure that the information will not leak into the public domain but also how to identify the culprit in the event of a leak.
You can put, for example, watermarks on documents when exchanging with counterparties. There is also a protective grid that is superimposed on the text as it is read. But here the same problem is reduced readability and user-friendliness.
Sharing data using virtual data rooms
For a deal to go through, there must be a lot of files to exchange between potential sellers and buyers. However, this does not have to be done in the usual way thanks to a secure data room.
If you need to make changes quickly or reach an agreement, VDR is a great option. They allow you to conveniently deliver documentation in a short time. Just download it and send it wherever you want. The recipient can see this almost instantly and take action.
Using the latest technology, online data room software also allows the owner of the information to restrict access to it and determine when users can access it and what they can or cannot do with it. This protects the file sharing and storage process.
Of course, security is paramount for most businesses, especially when it comes to exchanging documents. VDR data centers provide information protection and unrivaled cloud security for all transactions.
Strict safety measures are in place to manage these server rooms to ensure the privacy and security of both company and customer information. Virtual data room services also offer firewall protection and high-level encryption.
Look for some of the most popular electronic data rooms to find out the software that will greatly fit your business needs.