When it comes to business VDRs, a lot of people will be familiar with common file sharing services such as Dropbox or Google Drive. But, they’re not as safe and efficient 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 block access immediately if there is an incident of security. A VDR also allows administrators to obtain detailed reports on document activity, including the amount of time each document was seen and by whom.
Virtual data rooms are employed by many companies to facilitate complex financial transactions, as well as other mission-critical business processes. Investment bankers, VCs and private equity firms frequently study multiple transactions at the same time and generate reams of data that require organization and secure distribution.
Using an intelligent virtual data room, it’s easy to recognize significant trends in the data and simplify due diligence for M&A. In addition, if the company is contemplating an IPO or capital raising, the VDR can assist in keeping the process moving with confidence.
Mining and energy companies also have large volumes of data shared with regulators and investors. When using a VDR for business, it’s simple to manage access and ensure compliance. A VDR offers greater online security than any cloud service and includes features like fence view, built in redaction, granular access and remote shred. Additionally, a reputable business VDR provider will offer instant assistance (and around-the-clock support) whenever there is an issue.