Nowadays the Virtual Data Room is the optimal security solution for companies in all work phases. It enables you to work more efficiently and made information useful.
When do you need a secure Data Room?
Today, in conditions of high convergence of business processes in the global information space, the issues of information interaction of corporate clients, such as multinational corporations located in areas with difficulties in free access to the global information infrastructure, are becoming increasingly important. Cloud Data Rooms can dramatically increase the availability of customer data and the necessary network elements for their reliable transmission and storage.
Virtual Data Room is a secure repository for your documents that you can share online with the client’s business partners and/or with his employees or shareholders. This service enables its users to conveniently and easily control the stored and shared files, including the various options for their maintenance and forwarding to the end-users.
Data Rooms were created to accelerate and rationalize the negotiations on transactions and projects of the clients and at the same time to guarantee high security of the shared data through strictly controlled access authorizations.
Advantages of using a Digital Data Room
The VDR can be used in different ways. In the area of data and document management, it is suitable for the secure storage and archiving of company data as well as for integration into existing control and documentation systems. Through the targeted control of access and usage rights, you can also optimally protect confidential documents and communication protocols. In addition, VDRs are particularly efficient and profitable when very complex business processes have to be examined and tracked.
Under these conditions, the VDR promises a number of advantages not only for you but also for your business partners. In addition, the software improves the security of important assets for your company (documents, personal and business data, etc.) and offers a balanced and multi-layered security concept. So, let`s consider the main reasons to use VDR:
- Due diligence check
The VDR also enables due diligence in the context of M&A transactions. This is understood to be a risk assessment of a company – this primarily involves an assessment of its economic, tax, legal and financial circumstances. This process is easier to carry out virtually because the user is not under time pressure and can inspect the required documents at any time. In this context, it should be noted that the VDR has also proven itself in terms of data management. This is primarily justified by the fact that with a functioning Internet connection, all data can be viewed at any time and from any location. Furthermore, the digitization of the documents ensures that both time and money are saved when editing them.
- Data Room for your large project
When planning and implementing large projects, companies exchange sensitive information with architects or engineers. Often it has to be done quickly. When you set up a Data Room, it should not take 24 hours before you can access it. It is also important that external people can use it in the same way as you without extensive training.
- Secure board communication
In committee and board communication, very strict compliance regulations apply to the exchange and filing of confidential documents and resolutions as well as to the preparation and follow-up of board meetings. In addition, the problem often arises that confidential data and documents, e.g. annual reports or balance sheets, are urgently needed when traveling. That is why managers are constantly faced with major challenges to meet all requirements and regulations.