First of all, let’s figure out what does data room means. So, it is a secure online space that is used to store important corporate data.
Within the digital data room, users with a certain access level can share information and communicate with clients, investors, and executives via the Internet.
Thanks to the digitalization of all processes, VDR rooms increase the speed and efficiency of companies and save a lot of money on overhead costs.
In the below-mentioned sections, you will learn about the key benefits of VDR rooms, spheres where they are used, and the most vivid examples of data room services.
Keep reading to learn more.
Key Benefits of Virtual Data Rooms
If you check any data room comparison, you will notice that the main advantage is to simplify the work of companies. it is possible to define dozens of benefits, but the most significant of them are mentioned below:
- high level of information protection and confidentiality of materials;
- the possibility of multi-user access to information;
- fast processing of large volumes of data;
- Advanced search capabilities within the system.
Thus, VDR technologies allow connecting investors, customers, managers, stakeholders, and other project members into one. They help ensure well-coordinated work and maximum results.
Where are Virtual Data Rooms Used?
In this section, you will know about spheres where the electronic data room may be used. Check out the table below.
|M&A||The process of merging and acquisition is strongly connected with the VDR due diligence. This process, in turn, is often accompanied by sharing a lot of documents and various files between parties involved.|
|Fundraising||In this case, companies need to provide a lot of documents for potential investors. VDR software can provide this option. Plus all sides involved can communicate centralized within the data rooms and solve issues much faster.|
|Secure files storing and sharing||Dataroom storage is almost unlimited, which allows users to keep a large number of files of various sizes and formats absolutely safely.|
|Manufacturing||Companies, which operate in the manufacturing industry field often widely use VDRs to share new designs of their products, their specifications, etc.|
|Startups||VDRs help startups analyze investors’ interests. For example, a startup team can track which investors were interested in their product, how much time was spent studying materials, which files were opened, and so on.|
Top 3 VDR Software
In this section, you will learn more about specific VDR software providers. The below-mentioned VDRs are universal and can be used in any business you may be involved in.
This data room provider allows users to try a full-fledged solution for cooperation and interaction in modern business realities.
iDeals provider focuses on the security of your corporate data and protection against information leakage.
The platform uses cloud technologies, which allow access to information quickly and from any point all around the globe. Users of the iDeals platform can access the resource on the go since all available mobile operating systems support this platform. The use of the service is clear and intuitively understandable because of the well-structured user interface.
Also, you do not need to install any apps in order to use the platform. All you need is any device with Internet access. In addition, data will be automatically synchronized between the central server and all mobile devices.
Due to the supported drag-n-drop option, users can easily add, delete and edit any documents.
Those members who have administrator rights can manage all processes, including user activity monitoring, adding new participants, editing authentication rules, configuring an interface, and so on.
In addition, the platform has implemented a wide selection of options for voting and obtaining feedback.
Ansarada data room software is a full-fledged service that helps various enterprises, invents, and consultants in various tasks:
- corporate transactions;
- production processes of companies;
- purchase and sale;
- Management of stock portfolios, and much more.
All of the above-mentioned processes are monitored in detail by users with administration rights. Depending on the level of access, users can add, edit, erase files from internal storage without violating the information security of the whole organization.
One of the striking peculiarities of the platform is access to the API. Due to this, platform members can expand their possibilities by integrating third-party software.
Separately, it is worth noting that the multilingual support service’s professional command works 24x7x365 and has 3 branches depending on the geographic location.
This VDR provider is widely used among large companies like J.P. Morgan, Hapag-Lloyd, UBS, etc. It is a European company based in Frankfurt and provides its service for clients who deal mainly with legal and real estate businesses.
Unlike some VDR providers, Drooms can be set up to be used for individual clients as well as medium and large organizations. It became possible since the service offers a wide variety of pricing plans. Each of them come with a certain set of features, so you may pick up precisely the one that meets your need.
Speaking about the confidentiality of private data, Drooms comes with an ISO 27001 certificate and 100% meets the requirements of GDPR.
Moreover, the platform implements the latest technology in data protection from leakage, hacking, and so on. It is possible because of 256-bit encryption, two-step authentication, IP-based data access, as well as high standards for physical data storage.
The service supports any file, which can be quickly downloaded to the repository or extracted from it.
The service is available on PC as well as mobile devices. It is entirely web-based and does not require the installation of additional software.