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10 Main Traits of a Good Virtual Data Room

August 25, 2016 / Posted by in Radha Govind Dham

VDRs are becoming more and more demanded among deal-makers all over the world. Investment bankers, lawyers and top managers of companies are interested in the convenient and safe place to keep their information and to finish a lot of deals. Hence, today, data room vendors provide the businessmen with highly important software as sophisticated data rooms can satisfy the requirements of the most demanding and strict customers. Eventually, virtual platforms are expected to bring the ease to complex processes ran by companies, organizations, etc. So let us now pay more attention to the above touched on 10 main traits of a good virtual data room of virtual data rooms review. There are numerous pluses VDR visitors have a possibility to experience while working with a data room:

Protection

A VDR was invented to save confidential and sensitive corporate data. The documents are watermarked, encrypted and are non-readable for those who are not allowed to view them. The VDR user authentication requires different stages to prevent, for example, viewing the documents via stolen devices. It means that, the files are secured from internal misuses and external intrusions. Moreover, regular backups secure files from disappearance in a case of any malfunctioning.

Saving your time

A virtual room can be entered by different VDR visitors at once: this feature allows employees to explore the data simultaneously. In addition, advanced features of the virtual repository (integration with certain software, search, upload) allow to save a lot of time when it comes to fulfillment of the simple and habitual actions.

Saving you money

A setup of a virtual data room is cheaper than an opening of a regular data repository: it is unnecessary to rent a space and make hard copies of documents. In addition, not that many employees are required to ensure constant monitoring of the virtual platform.

Simplicity

User-friendly interface is an option that makes exploitation of a virtual room rapid and simple. In a case no special coaching is needed room visitors have a chance to work inside the room intuitively and concentrate on the work, not on the technical traits immanent to the data room.

Well-organized file system

A virtual platform supervisor is the one to think of the most convenient way of data systematization: all the digital copies of the documents are supposed to be categorized. Avant-garde search instruments such as full-text search and filtering capabilities guarantees that file system will be easier to use. Moreover, VDR users are provided with a right to make links from a certain file to the other one and to mark certain documents.

Full access control

A virtual repository provides its administrators with the right to define what kind of room visitors has a chance to work with what kind of information and how long for. It means that, there are multiple levels of data accessibility and restrictions may be applied to the selected room users, groups, documents, folders, etc.

Simplicity of cooperative work

As long as it is possible to open a virtual platform for all the users who have a login and a password, it is easier to communicate with the stakeholders. It is not necessary to meet personally in a case all the data might be shared and talked about via a repository.

Transparency

Audit reports that occur regularly allow to track all the actions of all the users that have an access to a virtual platform. Therefore all the actions that took place in the data room was included in the report and in a case of misunderstandings, leakages or other troubles the report may be exploited as evidence.

Legal compliance

VDR vendors take care of making all the data stored in the VDR consistent with the legal requirements and standards. Hence, the room owner is not supposed to feel uncertain about the proper file formats and possible legal misunderstandings.

24/7 support

A well-trained support team and a loyal project manager are expected to respond to visitors working in a data room within minutes. Such attitude allows to eliminate unsuspected troubles and to prevent a possible breakdown. The benefits listed above allow you to understand how a good platform may simplify your performance and assist you in a course of many deal-making processes. Along with these benefits, diverse virtual platforms will provide you with advanced and unique instruments. But you have to know your expectations and to select the VDR that does not try to deluge you with complicated abbreviations and impress you with the features which you do not use. So, be attentive and select the virtual repository which meets your demands.

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