When it comes to business VDR, many people may have used generic file sharing services like Dropbox or Google Drive. However, they’re not as safe and efficient as an enterprise-grade VDR which was developed specifically for business use. With an enterprise VDR users are able to securely collaborate on documents in real-time and also revoke access immediately if there is any security breach. A VDR can also allow administrators to receive detailed reports of document activity, such as the length of time each document was seen and by whom.
Virtual data rooms are employed by many companies to facilitate complex financial transactions, and other crucial business processes. Investment banks, VCs, and private equity firms typically review multiple transactions simultaneously which generates a large amount of data.
A virtual data room can be utilized to streamline due diligence processes and identify key trends.
Mining and energy companies also share large volumes with regulators and investors. When using a VDR for business, it’s easy to manage access and ensure compliance. With features such as fence view with built-in redaction features, granular permissions and remote shred, the VDR can provide better online security than a generic cloud storage service. In addition, a reputable commercial VDR provider will offer instant assistance (and around-the-clock support) when there’s an issue.
