VDR Features to Assume

Posted by newobjectivityera on May 18, 2016 in Uncategorized | 0 comments

The role of digital helpers in dealmaking can hardly be overvalued. Several researches confirm that using IT helpers does not only improve the speed and effectiveness of most business procedures, but is a necessary condition of keeping a competitive position in the market. One of the most attractive online tools for organizational activity is a virtual data room. Let`s check which way it can benefit your business.

Virtual data room is the recent development that has earned the incredible acceptance within the last ten years. Having been primarily introduced for processing mergers and acquisitions, it quickly became actively used in plenty of other areas with the unchanged success: clinical trials, investments, legal practice, real estate, biotech licensing, etc. The major advantages of the technology are its convenient operation and security: parties can work with repository at any time any moment, from anywhere, and having no concerns about their data security.

When it is time to choose the platform for processing definite business transactions, it is most advised to check on the characteristics and options it has in order to make sure it can certainly benefit your client – more about . The key options to require from a sophisticated platform are the following ones:

Encrypting the data

Various vendors have various safety-related technologies for achieving data safety, but information encryption is always among the standard ones. It involves encoding the data kept in the VDR to make it unreadable for those users who are not authorized in the repository. It is the primary anti-hacking step which is a required element for any data room. The distinction might only be in the standard of encryption that was used: the latest approved standard is 256-bit, but 128-bit is impossible to hack as well.

Watermarking

If encryption is viewed as a protection from illegal viewing, digital watermarks is a protection from illegal distribution. Electronic watermarks attached to the files keep the information about their owning organization so the copyright is absolutely protected. These watermarks can be dynamic and, in this case, they can collect the data about the accesses to the documents that took place.

2-step authorization

The greatest way to secure the data room from hackers` attacks is to restrict their possibility of even accessing the data. For this reason, many reliable VDRs use complex verification process , which proceeds in two parts: entering a permanent password in a combination with typing down the code which was sent straightly to his mobile device.

Tracking and making visual reports

This function does not only give a possibility to see what actually happens in the repository, but gives the information about the partners` interest in the transaction. Monitoring instruments which are used in a chosen data room usually let VDR owners monitor the activities within the virtual repository and make conclusions about the most interested participants. The gathered data is especially in-demand for dealmaking when the success of the transaction may be influenced by the well led negotiations.

Digital rights management

When there is a virtual repository, there exist no chance for process participants to access the wrong documents. The VDR itself controls the operations and makes definite files impossible to view for definite users. The necessary step that should be made beforehand is defining the permissions and restrictions for all the participants, and they will be exactly followed.

Q&A space

This module has been specifically created for ensuring web-based interaction between the participants. This means of interaction does not only help to quicken the process, but also increases the security of the discussed matters. To increase users` comfort, Q&A space may be equipped with the users` notification system and document linking feature that gives an opportunity to use the stored files in the Q&A space.

Full customization

Definite data rooms have standard interface that can`t be corrected, the other allow slight or great possibility of customization. In addition to settings variations made by the definite users, the organization that owns an online data room has a chance to define its own interface. In order to make the data room recognizable for existing and future clients, well-known corporations introduce their logotypes and organizational colors.

The listed characteristics are absolutely valuable for files protection and efficient working. While the first three are used to arrange the files security, four other ones relate to the way of using the information to make the working process fully controlled and beneficial.

Virtual repository is a tool which has a potential to make a revolutional change in the way of storing data, processing transactions, and communicating with business partners. If there is a need for improving the speed and effectiveness of your business processes, begin looking for a reliable virtual data room today and gain the benefits tomorrow.

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