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 has been designed specifically for business use. With a business VDR users can securely collaborate on files in real time and revoke access to them immediately in the event of any security breach. A VDR can also allow administrators to obtain detailed reports on document activity, including the amount of time each document was watched and by who.
Virtual data rooms are used by many companies to facilitate complex financial transactions as well as other mission-critical business processes. Investment banks, VCs, and private equity firms typically review multiple transactions simultaneously which generates a large amount of data.
A virtual data room can be used to streamline due diligence and identify important trends.
Mining and energy companies also share large volumes with regulators and investors. Using a VDR for business, it’s easy to manage access and ensure compliance. With features like fence view and built-in redaction, as well as granular permissions and remote shred, it’s possible to use a VDR can offer greater security online than the standard cloud storage service. Furthermore, a reputable company VDR service will provide instant assistance (and 24/7 support) when there’s an issue.
