Data rooms became rather viral over the past few years. Corporations get large numbers of advantages adopting them. So there is no wonder the VDR virtual data rooms market became pretty vast and profitable. New providers are created often, and every one of them tries to surprise users with new instruments on this eternal battle for the interest of the audience.

But do deal rooms actually differ that much from generic virtual storages? And why would a brand give money for it? Since there are large numbers of people who want to ask these questions, let's figure out the technology behind the deal room.

What is a online meeting room?

Let's begin with the basics and discuss the software itself. It is a virtual storage where brands can store their sensitive data. But even considering that it is the main function of such technology, the list of its features doesn't end on simply being an archive. Digital data room offers its users a complete interface for all corporation interactions. Here team members can share files, discuss issues, get prepared for meetings and some other. Basically, adopting this technology a corporation will have a full range of important tools that will help to enhance the work of the team and whole company.

So, while generic virtual repositories can only give a virtual space so a firm director can save documents there, VDRs are an extensive enterprise instrument. These instruments can be used for Due Diligence, Mergers and Acquisitions, fundraisings, IPOs and other processes within the company.

Protection is above all

Sure, not every business interacts with the sensitive data all the time. But although this information can be not really sensitive, any leader of the business would want to get their files stolen or illegally used. Online storages like trendy Dropbox or Google Drive are not really safe to use - plenty of cases of information leaks have shown it to us rather clearly.

So, the main difference of online deal rooms is the data encryption and numerous methods of protection. Sure, generic virtual repositories encrypt their transmission lines too - but not really the transferred information itself. And if someone else has a direct link to the file, it can be easily stolen by malefactors.

Virtual deal room providers protect not only transfer lines but documents as well. There is no way they will experience any kind of threat caused by malicious acts of thieves. Besides that, all virtual data rooms have a two-factor authentication. It means that to log in the user will need to enter the code that was sent to their phone in an SMS while signing in.

Also, the owner of the data room can take the control of the level of access other partners have. Settings can be changed at any second. And if any extreme situation occurs, the room administrator can eliminate the file remotely or take away the access to it.

Teamwork features

Unlike generic online storages, online meeting rooms are meant to boost the work of the enterprise and within parties. So besides that participants can exchange documents with each other, they can also get involved in conversations, handle different votings, manage Q&As and much more. It is extremely convenient to have all instruments in one interface.

Besides that, entrepreneurs are able to keep an eye on the performance of their companies in the VDR . Some providers even have an artificial intellect implemented in their apps. It allows to forecast events and tendencies and get deeper insights. Besides that, leaders of firms can keep an eye at thparties and see if there are any problems in the workflow of the firm.

In conclusion, there unquestionably are varied reasons to implement a virtual meeting room in your company and stop using ordinary online storages . When you try a virtual deal room, you will never want to get rid of it.