Many people are familiar with file sharing services such as Dropbox or Google Drive. However, they’re not as user-friendly and secure as an enterprise-grade business VDR which was created specifically for business use. With an enterprise VDR users can securely collaborate on files in real-time and block access immediately if there is an attack on their security. A VDR can also allow administrators to receive reports on document remote desktop software activity, including the amount of time each document was viewed and by who.
Virtual data rooms are employed by a variety of businesses to facilitate complex financial transactions, as well as other mission-critical business processes. Investment bankers, VCs and private equity firms frequently review multiple deals simultaneously which generates huge amounts of data that need to be organized and secure distribution.
A virtual data room is a way to simplify due diligence and identify key trends.
In the same way, energy and mining companies frequently share large volumes of documents with investors and regulators. If you use the VDR for business, it’s easy to manage access and ensure compliance. With features like fence view, built-in redaction, granular permissions and remote shred, a VDR can provide better online security than any cloud storage service. A reputable business-focused provider of VDRs can also provide 24/7 support and immediate assistance if an issue arises.