Reasons Why You Should Choose a VDR as an Efficient Data Storage Environment

A virtual data room, or investor data room is a more secure form of the popular cloud storage technology we have as of now. Cloud storage and computing have become so popular that businesses of all sizes whether big and small are adapting this technology for their use. Businesses who truly want to protect their assets and their most private business dealings look towards this data storage and secure file sharing platform. It’s a form of traditional cloud storage, but with man y more added security measures and private features that deal with discreet business aspects. Data rooms can be a place where the auditor, the attorney and potential buyers review sensitive or personal data and other documents. Top reasons why you should use a virtual data room in your business document workflow:

Reduces costs and boosts profitability

Traditional data storage and sharing methods (i.e. physical methods) are expensive as they have heavy overhead costs like rent for extra storage space, printing and filing documents, transporting clients or investors to view your documents, wage expenses for extra staff needed to keep your data well-organized, etc.

Using a virtual data room will allow you to store all your data on a cloud-based server. Moreover you can access it at any moment, from anywhere in the globe at anytime and on any device like desktop, laptop, pad or even mobiles. The rates for the use of your data room are a mere fraction of what your costs would be if you used any other form of traditional or physical data storage.

Keep all your sensitive data protected

Virtual data room service providers offer highest-level of security features to ensure that the integrity of your data is protected at all times. Your documents are stored by experienced security personnel 24/7/365. There are also multiple cameras on the premises. Furthermore, all good data room service providers have back-up generators for situations like power cuts, floods, avalanche. The servers in the online data centre are protected with multi-layered firewalls to prevent third-party intrusion. All your data in a data room is encrypted with the highest commercial-grade 256-bit encryption software, so no one will be able to view and steal your confidential data. All of these features ensure that your data remains your own all the time. Moreover, you have an uninterrupted access to your data room any time you need from any where in the world and on any device.

Enhances access control and information transparency

Providing complete transparency of information to investors is one of the best ways to improve business relationships and increase the chances of a deal going through successfully. With an online data room you ensure maximum data transparency as involved parties authorized representatives will be able to view any information they wish to seek or review from anywhere  in the world at any time of their convenience. And for this access control features play a very important role. By enforcing  them prudently you can control who views certain documents in your data room. You can also give a different access level to each party depending on what you believe is necessary for them to see in your data room.

Different access levels include viewing only, printing and downloading. This gives you will have a full control over the information that your investors can see, and therefore, improve your chances of getting investments.

Artificial intelligence increases efficiency

Recent evolutions in the virtual data room incorporates artificial intelligence and machine learning. It has a number of AI functions that create significant efficiencies, drive increased accuracy and give you more insight into your business and data. It also helps you simplify and accelerate your deal proceedings. Advanced automation features in data room reduces workloads by eliminating duplicate requests, and can streamline workloads with full-text searches and auto-indexing.

Virtual data rooms significantly improve deal turnover rates

Another important advantage of a data room is that it helps businesses cut deal turnover time to a fraction of what they were achieving previously. That is because virtual data room service providers offers certain organizational tools that allow for greater efficiency of data storage, management and secure file sharing.

For example, a data room automatically numbers documents and then creates indexing pages. This allows you to search any document in the data room in a jiffy. In this way, you and your prospective clients or investors can search for any important document faster saving valuable time. Thus an investor data room facilitates making smart and profitable decisions quickly and speeds up the deal making process.

Virtual data room is all about accountability
Investors and business partners are more likely to do business with you if you show a real sense of accountability, which is exactly what virtual data rooms reflect. All of your relevant company information will be stored in a cloud server where clients and potential visitors can go to and review that data anytime. Letting them do this shows your investors that you don’t have anything to hide, which leads to more trust and a better relationship.

Easy compliance with international regulations

We live in a border less, global environment where business transcend across not only borders but also continents. So when it comes to international deal making, there are different regional regulations that must be adhered to. A reputed virtual data room service provider makes following regulations like GDPR, CCPA and HIPAA straightforward.

A secure data room with multi-layered permissions ensures that external parties only see the data they are authorized to see and data privacy assessments can be conducted across content to understand where the risk of exposure is and provide the tools to mitigate it.

Improves the discovery process for everyone

A data room also helps you organize documents into a hierarchical structure so that it is easy to navigate and search for the required data. When required, you can painlessly pull out important due diligence documents at will. These could be proof of compliance, profit and loss statements and other histories from external data records.

When internal or external users examine files, you’ll also have a clear view of what documents they’re looking at — and when — right down to the file. An investor data room allows you to apply keywords and notes on folders and files and to assist in the examination of critical content. Schedule reports to be delivered to your inbox daily to stay on top of the action in the VDR – even when you aren’t logged in. Whatever your needs are, wherever you are in your journey, a virtual data rooms smart platform can save you time and money and simplify the entire deal-making process. With industry-leading functionality, flexibility and AI, virtual data room keeps your business data and deals safe and when it matters most.