Combining Virtual data room with External Data Sources

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A virtual data room is an online space that is equipped with the best security tools so that you can upload all of your sensitive data to it. The data inside the VDR can be viewed, edited, and forwarded at any time and any place. It’s a completely secure and neutral space that becomes a great helper for projects involving multiple parties, such as due diligence and M&A deals. In this article, we’ll tell you everything you need to know about virtual data rooms. 

Virtual data room – protection and easy access at the same time

Authorized users can access the storage of their sensitive data either via a web browser or a special application provided by your provider. With a web browser all files are displayed on the local hard drive for quick and efficient access, but to edit them that way you have to download them for editing and then upload them back to the cloud. 

Using apps this process is much simpler, all actions are replicated locally or virtually synchronized. 

Spheres of use of virtual data rooms 

Digitizing documents is a modern, wise solution that helps simplify document processes, automates many processes, and increases productivity. Deals, fundraisers, mergers, and acquisitions are much more convenient with digital documents. It saves you costs and time, and below we describe the most common uses of a virtual data room in different industries, so you can see how useful and versatile their features can be: 

  • VDR for real estate documentation 

The real estate industry circulates a huge volume of documents like construction plans, various reports, and other files. With VDRs, you can conveniently organize the documents in space according to the stage of the transaction or some other principle. Also during the negotiations themselves, you can easily provide some additional documents, because all of them are in a single centralized space, after the end of the deal they can be moved to the archive space 

  • VDR for communication with the board 

Remote management of companies is a phenomenon that is becoming more and more frequent. But for the organizers of a board meeting, the task is to organize everything in the safest possible conditions, because it is often the case that these meetings have to comply with safety standards. VDR provides this safe space that meets all regulations, allows access to sensitive data, and provides a place to discuss important issues. 

  • VDR for M&A transactions 

This is one of the most complex and time-consuming tasks a company can face. But virtual-dataroom.it can simplify this process in many ways. The room administrator can set different levels of permissions for different documents, prohibit or permit document interactions, track user activity and set expiration dates for certain documents 

Security features of VDRs 

Regardless of the industry in which VDR offers its services, its top priority always remains security. The space uses state-of-the-art encryption techniques to protect your files both while they are being shared and at rest (that is, simply while they are being stored). VDR provides login protection and has a dual authentication feature. Additional document protection features such as watermarks, detailed permissions, and interaction controls minimize the risks of data leakage. 

Such measures of data leakage protection are a definite advantage, as in today’s business, data leaks can lead to serious costs, crises, or even bankruptcy of the company.