In modern times, keeping actual and printed copies of company data is not as safe as before. Even storing information on a corporation’s storage cloud is not the greatest of ideas. As easy as robbing a bank for professional thieves, hackers can easily access the clouds online.
However, there is an exception. Virtual data rooms also called a deal room or VDR, are encoded and secured in an online data repository. It is the alternative for what used to be physical data rooms.
VDRs make data easily accessible for people who are authorized to access and make it very difficult for hackers. It is much more secure than mere storage clouds as these are not only encrypted by specialized software.
A growing number of businesses are employing the use of virtual data rooms. As proof, its annual growth rate from 2013 to 2018 rose up to 9.4%, and everyone is expecting it to soar in the following years. The big question is, why do these companies decide to switch from physical data rooms into data rooms? Here are some answers:
Globalization
More businesses are branching out worldwide. Hence, it is impossible for these people to meet even weekly or monthly only to process or view essential data. Employing virtual data rooms make document sharing easier.
Regardless of time and location, people can access vital information in an instant. This is true since most of the offers of VDRs are now available on mobile phones. Therefore, even when there is a need to transfer from one place to another, the data that they need are within reach.
Easy Navigation
Most data rooms are well-structured and easy to understand. Even non-technical aficionados would immediately see how easy it is to use virtual data rooms.
Also, businesses can easily organize files as to how they would like it to be. Hence, it would be easier to find records and data, especially with advanced search options.
Instant File Duplication
When multiple people access the same files online, it is not easy to keep track of any files uploaded nor the changes it undergoes. Virtual data rooms make tracking and updating easier by enabling duplication of data inside its servers. Still, with its robust security encryptions, it would be harder to steal files out of the system, even for someone who has access to the VDR.
Fewer Costs for Everyone
For those who are still using modern globalization methods, it would cost companies a lot of money to ensure the safety and maintenance of individual physical data rooms.
Or, for those who use online cloud storage, companies would have to order each employee to download these clouds on upgraded storage capacities to accommodate the needs of both the individual and the company.
Safe Document Sharing
Having a highly-secured VDR with a lot of safety measures would make document sharing faster and more accessible due to easier access in a single server.
Investors, service providers, and other external parties can access the files needed as provided by the company in a separate area.
No matter what is in every data, it is the right of every company to keep it within their property. However, there is always the worry of data security. Virtual data rooms provide the protection that a company needs with easier accessibility for each of their documents.
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