A VIRTUAL DATA ROOM IS USUALLY SUPPLIED WITH A WIDE RANGE OF TOOLS THAT ARE AIMED AT SPEEDING UP THE WHOLE DEAL-MAKING PROCESS AND ARE SUPPOSED TO MAKE THE LIFE OF DEAL PARTICIPANTS LESS COMPLICATED
Under the pressure of continuing technological progress, regular ways of business performance are being changed. Just a few decades ago businessmen were expected to open physical data room to exchange any confidential information with their stakeholders or they were supposed to hand all the documents in person in a course of face-to-face negotiations. But, with the launch of virtual platforms, a new way of documents exchange emerged.
A virtual room is digital space for digital copies of secret corporate files and the access to the VDR may be opened for particular groups of users. Traditionally, virtual repositories are equipped with a multi-sided security system. Hence, you do not need to worry about data leakage, unauthorized sharing, misuse, destruction, loss, etc. Safety is ensured by such features as dynamic watermarks, firewalls, two-step user verification, data encryption, virus scanning, regular backups and multiple other unique functions immanent to reputable virtual data rooms.
Along with complex data safety, a virtual data room is also known for unprecedented accessibility: you have an opportunity to browse the files 24/7 365 days a year worldwide and continue to work even on-the-go via the mobile application. It means that you can share documents with your foreign investors, employees, partners, etc. almost instantly and that the accomplishment of the operation is without any interruptions in progress: you are not expected to take inconvenient business journeys and to take part in face-to-face negotiations. In addition, if you exploit VDRs for deal-making you have an opportunity to comment on all the information directly within the room with the help of Q&A section. >>>
Moreover, a virtual room constitutes a fully equipped space for work. The VDR is traditionally enhanced with multiple functions that speed up and facilitate the whole process of deal-making. Hence, you will not manage to miss pluses provided by unique search functions, filtering tools, in-document linking options, by integration with Microsoft Office. All these features let you to move around the room without any efforts, to adjust the room to your own projects, to investigate documents directly in a virtual room. So, a platform provides you with the virtual place which is equally suitable for dealing with the potential partners and investors and for for your own projects.
When dealing with communication with your partners, you are not supposed to worry about setting up numerous virtual repositories for different projects. The virtual data room gives you an opportunity to separate users into particular groups of users and to exchange certain documents with some groups. Hence, one platform is sufficient for simultaneous implementation of multiple transactions. In addition, all the room visitors can enter the room at the same time and any of the transactions is being neglected due to the virtual repository being busy with the potential partners dealing with the other deal.
Moreover, when utilizing a VDR you are sure what takes place in your VDR: activity tracking instrument leaves not a single action without attention. It means that whatever a visitor does in the virtual data room – browse, download, change files – it is written down and reflected in an audit report. The report gives you a chance to reveal the most concerned bidders, to keep an eye on what your employees do, etc.
Additional special characteristic of rooms is that you have a chance to make your platform consistent with the corporate identity by adding logos in emails, reports, other letters, by designing your platform in selected colours, etc. Hence, by opening a specially designed website, you make your virtual platform reflect your firm online to all the partners worldwide.
The options mentioned above make it clear to some extent why virtual data rooms are attracting attention and why businessmen give preference to the utilization of VDRs. These online spaces can be adapted to your deal’s demands and make the deal be accomplished quickly and smoothly. Also, rooms are available for reasonable prices and you are sure that you are paying only for the functions you need in order to reach your goals. So, there is not a single reason to avoid virtual rooms and to be loyal to old ways of deal-making. Avant-garde nature of virtual rooms will simplify your life and facilitate cooperation with the partners worldwide!