The choice between cloud and virtual dataroom storage is determined by the type of documents or business processes that you will be managing. In certain situations a virtual data space is the better option because of the improved security features it offers in comparison to standard cloud technology. However, there are also instances when a more basic cloud storage solution might be more appropriate. In any case, it is important to spend time to learn the differences between these kinds of solutions so that you can decide which one is right for your business.
Enhance the capabilities of organizations
In a VDR you can organize documents in folders and assign permission profiles based upon job title and duty. Users will only have access to files required to fulfill their duties, which reduces the possibility that sensitive information is available to unintentional third parties. This is one of the major advantages that data rooms have over cloud storage applications like Dropbox and Google Drive.
VDRs aid you in performing due diligence in M&A transactions and other financial transactions. They let you exchange sensitive documents in a safe environment. This helps you protect yourself from leaks of information, and also close deals faster. The majority of data rooms have advanced security features, such as watermarking, which could include the email address of the recipient and screenshot protection to stop the misuse of confidential documents.
Some data rooms, like FirmRoom and iDeals offer a wealth of analytics that go beyond the basic usage statistics. You can track user activity down to the granularity of documents viewed, and how long. These data can help you determine the most important content and schedule follow-up meetings with the relevant stakeholders.