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5 Indicators that You Need a Virtual Data Room
Virtual data room (VDR) is the recent development that quickly gains its popularity. It is similar to a public cloud in many respects, but it provides a totally different level of security. Many businesses use VDRs as a tool when it is necessary to store and share the confidential information.
The important stage of mergers & acquisitions process is the due diligence. During it, the company exposes some of its personal data for the evaluation of potential partners. The important task on this stage is to avoid the leakage of the confidential information that can destroy the value of the company. That is where VDRs are of a great help. They provide advanced security of the data and allow sellers to have a permanent control of the audit process.
There are five reasons why companies should consider using a VDR:
1. To store and distribute the confidential information. Sharing the information online securely is the safest way of its distribution to potential clients.
2. To control the data. When a physical data room is used, the sellers cannot track the clients` activity. With VDRs, it is possible to know who, when, and how often had an access to the information. What is more, this way you do not have to waste time and efforts checking on your documents; you can be always informed about any changes in the repository.
3. To fasten the process. Using VDRs allows having a simultaneous access to the virtual storage for different customers. Buying and selling take place much earlier in this case.
4. To save money. Keeping your documents printed in a physical data room or on a personal server requires recruiting specialists (IT specialists, security guards, etc.), whose responsibility will be taking care of the data. With VDR, you save on it; there are no extra expenses.
5. To simplify. All the sides are interested in a solution that will make evaluation of the documents easy. The major characteristic of a good VDR is its simplicity. A client can easily get acquainted with the system, find the necessity document and work with it.
These indicators are convincing enough for businesses that have already started using VDRs for their needs. If you have made your mind to keep your data in the secure online repository, start looking for the best provider. iDeals virtual data room is one of the most trusted cloud services that guarantee the highest security standard. The company has passed a certification audit according to ISO/IEC 27001:2005. Except the advanced security, it offers the list of rich functions:
· Converting the documents into a safe format with watermarking;
· Visibility of potential clients` behavior;
· Limiting the access to definite documents for various viewers;
· Full-text search and multi-language recognition;
· Questions & Answers section for secure communication between parties;
· Mobile applications;
· Various compatibility opportunities.
It is these features that make the effective virtual data room different from simple file sharing. iDeals data room offers the combination of security, convenience, and simplicity that makes processing deals much easier. If you are still doubtful, take a trial version and check for yourself!
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