Data rooms became truly popular during the past few years. Businesses get numerous advantages using them. So there is no wonder the virtual data room intralinks data room market became quite huge and profitable. Brand new providers pop up constantly, and every one of them is trying to amaze users with interesting tools on this never-ending battle for the interest of the audience.
But do virtual meeting rooms really differ that much from online repositories? And why would a business give money for it? Since there are many people who might ask these questions, let’s understand the technology behind the online deal room.
What is a deal room?
Let’s begin with the basics and take a look at the app itself. It is a virtual storage where firms can store their sensitive information. But even considering that it is the main ability of such technology, the list of its features doesn’t end on simply being an archive. Virtual repository offers its users a complete interface for all business interactions. Here parties can share files, discuss issues, get ready for meetings and many other. Basically, adopting this technology a corporation will have a broad range of various instruments that will help to lift the work of the team and whole corporation.
So, whilst generic virtual storages can only give a virtual space so a firm owner can save the data there, data rooms are a complete company tool. These instruments can be used during Due Diligence, Mergers and Acquisitions, fundraisings, IPOs and other kinds of audits.
Security is above all
Of course, not all business works with the classified information all the time. But although this information can be not quite important, any leader of the firm would want to have their documents stolen or illegally used. Online storages like popular Dropbox or Google Drive are not perfectly secure – differing cases of information leaks have shown it to us very clearly.
Thus, the most important difference of virtual data rooms is the data encryption and numerous methods of protection. Sure, ordinary online repositories encrypt their transmission lines too – but not exactly the transferred information itself. And if someone else has a direct link to the document, it can be easily stolen by malefactors.
Electronic data room providers encrypt not only transfer lines but documents as well. There is no way they will experience any kind of danger caused by malicious acts of hackers. Besides that, all VDRs have a two-factor authentication. It means that to log in the team member will have to enter the code that was sent to their smartphone in an SMS while signing in.
Also, the administrator of the online meeting room can control the level of access other team members have. Settings can be changed at any moment. And if any extreme situation happens, the room owner can eliminate the document remotely or take away the access to it.
Teamwork features
Unlike ordinary virtual repositories, online meeting rooms are made to lift the teamwork of the brand and within team members. So on top of that that team members can share files with each other, they can as well be involved in conversations, go through various votings, create Q&As and much more. It is extremely useful to have all instruments in one interface.
Also, leaders of firms can track the work process of their enterprises in the data room . Some providers even have an artificial intellect implemented in their apps. It helps to forecast situations and tendencies and get more detailed insights. Besides that, company owners can see thpartners and see if there are some flaws in the work of the company.
In conclusion, there doubtless are various reasons to get a virtual data room in your corporation and stop using generic online storages . When you try a virtual deal room, you will not want to get rid of it.