Advanced reporting to keep track of data usage in VDR

A virtual data room is a cloud-based platform designed to organize and share data. These secure virtual data rooms help make the due diligence process smoother and more efficient. But the fact is that not every virtual deal room is created equal. Each one has different features, industries, and business deals in mind, so you have to carefully choose which deal data room is best suited for your company’s requirements. 

A good secure VDR should include security features such as:

• Document watermarks. Custom watermarks that give the date and name of the person who downloaded the document to avoid information leaks.
• Self-destructing documents. Allowing you to revoke access to documents on a moment’s notice.
• 256-bit AES SSL encryption. The highest standard data encryption to protect data being transmitted to and from the virtual data room. It also helps while the data is stored within the VDR.
• Document Access Restrictions. Allows you to choose which documents are allowed to be downloaded, printed, edited or shared. You can even custom choose the different levels of document protection.
• Data backup. Another layer of document security allowing you to know that in case something happens, you have a backup. Meaning nothing can be completely lost or destroyed.
• Virus Scanning. With so many documents being uploaded to your VDR, it’s important to have them checked for viruses. A quality VDR won’t allow any defective files to be uploaded.
• On Save/On Open Encryption. On open encryption automatically encrypts your documents when you open them to prevent unauthorized access. On save encryption will guarantee that your documents are protected during storage and remain unreadable to unauthorized parties.
• Mobile device access. Gives you the option to work with your secured documents from anywhere.
• Multiple step verification. When users log in from a new device, a multiple step verification process will help to make sure that the VDR isn’t being hacked.
• Granular access. Controls who can view a document based on their job or role in the company.
• Two-Factor Authentication. Provides another level of protection by having users log in using a password and a unique code sent directly to their cell phones.

With Advanced Reporting features of most modern VDR, corporate account administrators can now access detailed usage reports for their accounts, which include the following information for a selected period of time:

• Number of active data rooms
• The total amount of data stored in all active data rooms
• Number of unique administrators and guest users across all active data rooms

Everything in your data room is tracked, leaving a digital footprint enabling you can gain insights into anything you’d like. If you need a weekly report containing the same parameters of information, you can save and it will be ready for you every time you log in… right down to seeing who spent how much time on each page! All this is available on desktop and via mobile app.

The usage report includes a graphic representation of aggregate storage changes within a corporate account over a specified period of time, as well as detailed information for each data room within this account. The latter allows quick tracking of your most active projects in terms of uploaded data and the option to view storage details for any given data room. The reporting features enable you to stay on track when juggling multiple deals on concurrent timelines. They also help you understand something critical to the success of the deal: knowing what the other side values most, so you can tailor discussions accordingly.

They allow:

Real-time tracking and monitoring

Track data coming into your organization from external vendors, and also track data flowing inside your firm, in real-time. All data flows are centralized and visible in the dashboard – providing ultimate usage transparency.

Factual and timely usage reporting

Every single data request is visible in real-time in your dashboard – including individual data categories, fields and security references.

Granular reference data access control

VDrs allow reference data access to be permissioned, meaning only consumers with the right to access specific data will be allowed to do so – ensuring data usage agreements are met.

Advanced Analytics

 Advanced analytics features and schedules reports to be sent automatically. Reports will be populated and ready to go when needed. Provide senior management, CIOs and CDOs with the ability to view data flows in the organization and derive actionable insights. It allows you achieve cost efficiencies, streamline data access and ensure usage compliance.