Under the influence of recent technological development, ordinary ways of business performance are being modified. Just a few decades ago deal-makers were supposed to open physical data room to share some confidential files with their partners or they were expected to share all the information in person during face-to-face meetings. But, with the appearance of virtual data rooms, a new way of data sharing appeared.

A virtual data room is an online environment for digital copies of valuable corporate documents and the entrance to the virtual platform may be opened for particular groups of stakeholders. Ordinarily, virtual platforms are protected with a multi-sided security system. Hence, you must not care about misuse, unauthorized sharing, destruction, loss, data leakage, etc. Protection is ensured by such tools as data encryption, firewalls, virus scanning, two-step user verification, dynamic watermarks, regular backups and some other unique tools immanent to high-quality VDRs.

In addition to military-level data safety, a virtual room is also famous for its constant accessibility: you can browse the files 24/7 365 days a year all over the planet and continue to work even on-the-go via your mobile devices. It means that you can share documents with your foreign employees, partners, investors, etc. in a few clicks and that the accomplishment of the operation is constantly in progress: there is no need to take inconvenient business journeys and to participate in individual meetings. In addition, in a case you use virtual repositories for staying in touch with your stakeholders you have an opportunity to discuss all the documents directly within the virtual repository with the help of Q&A section. >>>

In addition, a VDR offers you a highly functional environment. The virtual repository is normally supplied with numerous features that speed up and facilitate the whole process of deal-making. For example, you will not miss advantages offered by high-quality search tools, filtering tools, in-document linking options, by integration with Microsoft Office software. All the listed features let you to move around the virtual data room naturally, to adjust the virtual data room to your own expectations, to investigate documents directly in a VDR. Thus, a virtual room offers you the virtual place that is identically suitable for staying in touch with the partners and for for your own performance.

When dealing with communication with your partners, you are not supposed to bother with setting up multiple virtual platforms for individual deals. The room gives you an opportunity to divide room visitors into diverse groups and to share selected information with some groups. That is why, one virtual room is enough for concurrent accomplishment of multiple operations. Also, all the stakeholder can work with the files at the same time and not a single the projects is being neglected due to the virtual platform being occupied by the room visitors working on the other deal.

In addition, when exploiting a room you are sure what is going on in your virtual data room: activity tracking tool registers all the actions that take place inside the room. Hence, whatever a user performs within the room – browse, download, modify documents – it is written down and reflected in an audit report. The report gives you an opportunity to reveal the most concerned visitors, to observe what your employees do, etc.

The other special trait of virtual data rooms is that you have an opportunity to make your virtual repository consistent with the corporate identity by using logos in emails, reports, other letters, by designing your VDR in certain colours, etc. Thus, by preparing a branded website, you make your room mirror your firm on the Internet to all the potential partners and investors globally.

The functions named recently make it clear to some extent why virtual platforms are gaining popularity and why deal-makers switch to the usage of VDRs. These online depositories can be adapted to your project’s requirements and make the project be finished quickly and smoothly. Also, rooms continue to be affordable and you always know that you are spending money on the features you demand in order to achieve success. Therefore, there is any reason to ignore virtual rooms and to remain loyal to old-school ways of making business. Novel nature of virtual data rooms will provide you with all the necessary aspects that you need for being successful!