Electronic data rooms became quite popular within the past several years. Corporations get differing benefits adopting them. So there is no wonder the VDR market became rather broad and profitable. New providers are presented often, and every one of them wants to amaze customers with original tools on this never-ending battle for the loyalty of the audience.

But do online meeting rooms really differ that much from ordinary cloud storages? And why would a corporation pay for it? Since there are plenty of people who want to ask these questions, let’s understand the technology behind the VDR.

What is a virtual meeting room?

Let’s start with the basics and take a look at the software itself. It is a virtual storage where brands can store their sensitive files. But although it is the main ability of such technology, the list of its features doesn’t end on simply being an archive. Virtual meeting room offers its users a complete interface for all corporation interactions. Here partners can share the data, discuss issues, get ready for meetings and some other. Basically, adopting this technology a brand will have a broad range of handy instruments that will allow to lift the performance of the team and whole business.

So, while ordinary virtual storages can only offer a virtual space so a firm director can store documents there, online meeting rooms are an extensive corporation tool. They can be used during Due Diligence, Mergers and Acquisitions, fundraisings, IPOs and other processes within the company.

Security is vital

For sure, not all company works with the classified data every day. But although this data can be not quite sensitive, any entrepreneur would want to have their data stolen or illegally used. Online repositories like widely used Dropbox or Google Drive are not that safe – a lot of cases of information leaks have shown it to us pretty clearly.

So, the most valuable difference of virtual meeting rooms is the data encryption and numerous ways of protection. Sure, generic cloud hosting services encrypt their transmission lines too – but not really the transferred information itself. And if someone has a direct link to the file, it can be easily stolen by malefactors.

Online meeting room providers protect not only transfer lines but files as well. There is no way they will be exposed to any kind of threat caused by malicious acts of thieves. Also, all virtual deal rooms have a two-factor authentication. It means that to log in the team member will have to enter the code that was sent to their phone in an SMS when signing in.

Additionally, the administrator of the data room can take the control of the level of access other team members have. Settings can be changed at any time. And if any extraordinary situation happens, the room owner can eliminate the file remotely or cut the access to it.

Teamwork instruments

Unlike generic online repositories, data rooms are made to advance the working process of the business and within employees. So besides that users can share files with each other, they can as well get involved in conversations, hold various votings, manage Q&As and much more. It is incredibly comfortable to have all instruments in one interface.

Also, entrepreneurs are able to watch the performance of their enterprises in the electronic data room merrill data . Some providers even have an artificial intellect implemented in their programs. It allows to predict situations and trends and get better insights. Besides that, leaders of firms can track themployees and notice if there are any flaws in the work of the enterprise.

In conclusion, there clearly are large numbers of reasons to adopt a VDR in your corporation and stop using generic virtual repositories . Once you try an online deal room, you will never want to stop using it.