When it comes to business-oriented VDRs, a lot of people will be familiar with standard file sharing services such as Dropbox or Google Drive. But, they’re not as safe and efficient as an enterprise-grade business VDR which has been designed specifically for business use. Users can collaborate securely on documents in real-time and immediately revoke access if there is a security breach. A VDR also lets administrators receive detailed reports of document activity, such as the amount of time each document was watched and by who.
Many companies rely on a virtual data room to facilitate complex financial transactions as well as other critical processes. Investment banks, VCs, and private equity firms typically analyze a variety of deals simultaneously, generating a lot of data.
A virtual data room can be used to streamline due diligence processes and detect important trends.
Energy and mining companies share large volumes with regulators and investors. Using an intelligent business VDR, it’s easy to manage access and ensure compliance with regional regulations like GDPR and CCPA. A VDR provides an extra level of security online compared to an ordinary cloud service, and comes with features like fence view, built-in redaction, granular access and remote shred. A reliable provider of business VDRs can also provide 24/7 support and prompt assistance if an issue arises.