The choice between using a cloud or a virtual data room storage depends on the kind of documents and business processes that you have to manage. In some instances, the virtual data room offers better security than traditional cloud technology. There are instances when a simpler cloud storage solution is better. It is important to study the differences between these two types of solutions to decide which is best for your company.
Improved capabilities of organizational management
In a VDR you can arrange documents into folders with distinct permission profiles in accordance with job title and. Users will only have access to the documents required to carry out their job, reducing the possibility that sensitive information will be available to unintentional third parties. This is one of the major advantages that data rooms offer over cloud storage platforms such as Dropbox and Google Drive.
VDRs help in the due diligence process of M&A deals and other financial transactions by allowing you to exchange confidential documents with other parties in a secure setting. This allows you to prevent leaks of information and close deals faster. Most data rooms come with advanced security features, such as watermarking, which could include the recipient’s email address and screenshot protection to protect against misuse of confidential documents.
Certain data rooms, such as FirmRoom and iDeals provide comprehensive analytics that go far beyond the standard usage statistics. You can track user activities up to the granularity documents viewed and how long. These specific insights can be helpful in determining the most important content, and to organize follow-up meetings with the stakeholders.
