Many people are familiar with file sharing services such as Dropbox or Google Drive. But, they’re not as secure and convenient as an enterprise-grade VDR that was designed specifically for use in business. With an enterprise VDR, users can securely collaborate on documents in real-time and block access immediately if there’s any security breach. A VDR lets administrators get detailed reports on document activities, including the length of the time that each document was seen by who.
Many businesses depend on a virtual data space to facilitate complex financial transactions and other vital processes. Investment bankers, VCs and private equity firms frequently analyze several deals simultaneously and generate reams of data that require organization and secure distribution.
A virtual data room is a way to speed up due diligence and identify important trends.
Similarly, mining and energy companies often share large amounts of documents with regulators and investors. By using an intelligent business VDR, it’s easy to control access and ensure that you are in compliance with regional regulations such as GDPR and CCPA. With features such as fence view integrated redaction, built-in permissions and remote shred, it’s possible to use a VDR can provide an extra level of security over the standard cloud storage service. In addition, a reputable commercial VDR provider will provide immediate assistance (and around-the-clock assistance) when there’s an issue.