What is a Virtual Data Room?

A virtual data room is software designed to store securely, edit, and transfer data. The technology is designed for businesses of all sizes. With the help of a virtual room, you can conduct large transactions, work business remotely, and not worry about protecting important information about your company.

Virtual data rooms can be both online (that is, the browser version) and desktop (downloaded like a regular program used by company employees).

Use of VDR for business

VDR technologies provide the user with a convenient virtual environment for storing and processing information, which combines hardware, software, communication channels, and technical support. Storing data in the “cloud” with Internet access makes it possible to access it anywhere in the world from almost any device.

The data room can be easily customized to suit your needs by purchasing additional storage space or discarding excess. In addition, working with cloud technologies allows you to respond to the emergence of new business challenges quickly, reduces costs, and increases the efficiency of enterprises and their departments.

This approach to working with information can be recommended both for individual entrepreneurs and small businesses, as well as for medium and large businesses: there is an optimal business model for any scale. Small companies are primarily interested in accounting and mail services, applications for information exchange, file recovery, and archiving. Larger organizations are interested in virtual servers and communication services, as well as a complex set of various services.

Benefits of VDR

There are a number of benefits to consider using VDRs for your business:

  • Use of Internet services without the need to purchase servers, network equipment, UPS, air conditioners, and licensed software. No full-time IT specialist is required. All this reduces the cost of working with information up to 70%.
  • Connection to cloud services can be made from any gadget with Internet access, and this does not require special knowledge in the field of IT.
  • The data is centralized, which is more convenient than information distributed among different branches and computers.
  • The provider’s specialists can implement the expansion (or reduction) of cloud service at the client’s request within a few minutes. It is also possible to independently manage the volume of the “cloud” through a personal account on the operator’s website.
  • Cloud services are designed with increased security and fault tolerance and are provided with technical support around the clock.

The security of cloud technologies and solutions can be confirmed through certification. In world practice, the trend towards the transition of the business to cloud technologies has already taken shape. This issue, according to Symantec, is discussed in 90% of companies.

Several popular providers

If you are interested in the ability to securely use a virtual data room instead of the usual “clouds” (such as Google Drive, for example), then pay attention to such services:

  • iDeals. It has existed since 2008 and offers functional solutions for small, medium, and large businesses.
  • Intralinks. Serious software allows you to buy and sell companies, mergers, and acquisitions, bankruptcy, and others.
  • Clicked. A good option for small companies. A provider originally from Europe has provided everything for small businesses.
  • Datasite. The software has existed since 1968, so it considers all the needs of large companies. Here, any transaction will be easy and comfortable.

Also big and famous providers are SecureDocs, DealRoom, ShareFile.