Last updated on June 26th, 2023 at 10:38 am
INTRODUCTION
Every individual needs some form of file storage either for personal or business data. The exponential growth of internet and digital communication, especially in the last few years has led to the introduction of a lot of storage services like Google Drive, Dropbox, Box etc. They allow users to store and share data easily. But most of these allow average user to store their data and that data is not secure. Besides generic file sharing solutions do not have features like organized file sharing. They only have the most basic of security measures, such as user-created password protected information.
Virtual Data Rooms
Virtual Data Rooms are specifically with the everyday business user in mind. They are purpose-built around business information security and are aimed at corporates who need to store and share confidential data. Because data leaks could prove lethal very often. VDRs support many features that are designed to maintain the integrity of business data while providing uninterrupted access to it 24/7/365. VDRs also provide exceptional physical security to your data. The data centres hosting information are protected by experienced personnel, security cameras, backup generators, and even backup servers in remote locations that will run in the case of disaster. Besides VDRs offer unprecedented digital security, as the servers are protected by multi-layered firewalls and all documents get encrypted by the best commercial-grade, 256-bit encryption software available at each instance of use. All this makes VDRs much safer than any other file storage and sharing service.
Features of VDR
No other cloud data storage and sharing service gives you the same level of control over user access levels as a good VDR. In most common cloud storage and sharing services you can invite people to view your data but after that you have no control over what files they see. Also, most of these allow only one party to see the data at a time. Whereas a VDR can control what information different individuals can see and even for how long they can view it. This means that you can run multiple deals at any given time in the same data room while maintaining full control over each deal.
Granular folder and file level controls to allow permission-based data access to users. Customized watermarking of documents with user details including their IP. Audit trail of all actions conducted by users including user action graphs. Documents upload notifications to permitted users by automatic email.
VDR – Business transaction
Data rooms even have the ability to remotely delete documents (even if they’ve been downloaded to someone’s computer) and real-time reporting and notifications so you can be alerted when someone is accessing your files. Besides VDRs give you the opportunity to access a virtual data room from anywhere and at any time, thereby adding a whole new level of convenience in a business transaction for your company.
VDRs help efficiently handle all data as it is designed to handle thousands of documents. Your documents get automatically numbered and indexed when you upload them. Other features include advanced document searching, ability to integrate the format of the data room into a windows explorer-like aesthetic for maximum compatibility, and smaller features sometimes taken granted like bulk upload, drag and drop and support for over different file formats. It’s ease of use and simple navigational tools help users find necessary documents quicker and therefore saves time. This increased efficiency results in a better number of deals and more revenue in a given year.
Loud Storage Services
Another key differentiator between the VDRs and cloud storage services like Dropbox or Box comes in the area of customer service. Most of these cloud storage services offer only basic service functions whereas the VDR companies have project managers dedicated to each client. Plus, when it comes to customer support, VDRs typically deliver 24/7 availability to in house representatives that are not outsourced. Dropbox and other generic cloud storage and file sharing services have limited customer services meaning that often times you will have to wait days for a response or waste time hunting through FAQs looking for answers.
When it comes to VDRs vs cloud storage and generic file-sharing services, there is no comparison.
The Confiex team specializes in providing premium virtual data room solutions tailored for businesses. With their vast experience in working with document sharing platforms, they have been actively supporting the Virtual Data Room community since 2015 by offering valuable information to users free of charge.