Business, finance, law and the health care industry has been quick to see the many advantages associated with maintaining a virtual data room. Government offices and non-profit organizations have also begun to employ these virtual data rooms. Much like private corporations, they recognize that virtual data rooms are the perfect place to secure and share a variety of documents.
In addition to document storage, a data room is useful for document sharing as well. These “rooms” were developed with user-friendly interfaces especially for this purpose. Companies can actually tailor an interface to fit their vocations. Corporations can continue to work, creatively collaborate and conduct business with the utmost of security.
A virtual data room is able to grant the same high level of security previously enjoyed by banks and high level financial agencies. Private information is protected from flood, fire, natural and man-made disasters. Users have access via key cards and “mirror sites” that permit access in case of emergency.
Security is extended further with established certifications such as HIPAA. Virtual data rooms may also be programmed to accept personalized security settings. Users are able to access their data with double passwords and numerical encryption, as well as programmed document expiration dates.
Because virtual data rooms are designed with versatile interfaces, they are easily adapted to the needs of any corporate group. Large and small company IT departments are able to integrate the use of a virtual data room to meet specific industry requirements. Depending upon how they store and share data, their virtual data room may be simple or highly complex.
Businesses customize their data rooms to speed up the work flow. This not only adds to profitability, but increases “branding” amongst customers and one's own employee base. Best of all, short-term subscriptions make this data room cost affordable for small, medium and start-up companies.
Marketing and business deals are simplified with virtual data storage technology. The immediate nature of storage and retrieval adds to document sharing between corporate partners. In a world where speed often equals financial superiority, the use of a virtual data room is an excellent method for taking on the competition.
Corporate IT departments are able to instruct employees and management personnel to use virtual data rooms with ease. Each “room” is designed so that a user is able to “invite” other users and add new users onto their list. Once ensconced in their virtual room, users are able to upload a document using “drag and drop” maneuvers similar to those found in familiar software programs. Adding a new document is even possible via the use of one's email account.
When using a virtual data room, users can save documents and print out physical copies as needed. If necessary, digital documents can be restricted and set with an expiration date to meet specific security standards. This is possible both before and after a document has been downloaded to a computer screen.
Multiple aspects of working within a virtual data room extend further into the realm of corporate security. Much as in the use of traditional paper documents, visual watermarks can be added to any one page or an entire document. This limits any unauthorized use and reinforces corporate branding.
Documents placed in a virtual data room are kept highly organized. One method for achieving organization is with a program known as “Versioning.” While kept in storage, owners are able to trace activity as it pertains to their stored information. If it is necessary to rewrite or redraft a document, it can be removed and re-added at any time.
Customized and expandable
Virtual data rooms were created to meet the demands of the corporate, legal and administrative world. Companies are now able to share confidential documents with clients that would not have been possible before. Secure digital paperwork can be uploaded, read and downloaded by users not contained within one's corporate computer firewall. Stored for a short or long term period, these documents are given full protection from unauthorized outsiders.
The legal industry has recognized the advantages offered by virtual data rooms, particularly in the sharing of evidence and data with co-counsel members. Security functions allow law firms to regulate how volumes of sensitive data will be stored and shared. Managing expanding volumes of data is not only possible, but easily organized for use at a later date.
Basic administrative tasks also benefit when virtual data rooms are added to the company lineup. Reports, files and financial audits are far safer than when kept purely in a physical form. Departments as diverse as human resources, accounting and sales now have unlimited space for document storage. Sensitive files can be read, rewritten and transferred from one location to the next within moments.
Virtual data rooms usually come equipped with their own professional IT squad. These highly trained individuals are able to scope out issues, customize rooms for clients and help to upload difficult documents. They are experienced in the archival organization process, so they encourage questions and welcome new applications.
Affordable pricing options make the use of virtual data rooms a viable scenario for small and medium size businesses. Instead of “a la carte” pricing plans, virtual data room providers offer plans that include a wide range of features at a fixed rate. All data charges are agreed upon at the onset, eliminating hidden charges and fees in the future.
After subscribing to their VDR, companies are granted many unlimited user options at a single price point. Once inside their customizable virtual data room, owners may initiate an unlimited number of projects and authorize an unlimited number of users. Virtual documents downloaded and stored in one's “room” do not have to adhere to any size requirement.