5 Reasons Why Your Business Needs an Enterprise Virtual Data Room
While the business world moves to an increasingly digital world, more sensitive data and documents are exposed to potential threats online. Despite these potential security risks, companies need to move their businesses into the digital space to succeed. Working in a digital space allows businesses to collaborate with separate branches and other organizations, regardless of location, quickly and conveniently. First, however, these companies need to take steps to protect their sensitive documents and data.
As more companies recognized the importance of working digitally, more solutions have popped up to make online collaboration and file-sharing easier, such as Google Drive and Microsoft OneDrive. However, these document-sharing programs lack the security an enterprise needs for its sensitive information. Today, the enterprise virtual data room (VDR) has taken the stage to provide this much-needed security. This article will examine VDRs, what they are, and why your business needs one.
What is a virtual data room?
VDRs provide secure storage and sharing of sensitive digital documents and can prevent access from unauthorized users. Companies utilize these virtual spaces for business transactions, such as mergers and acquisitions, banking, and investing, to name a few. With this data room, users can securely access documents from any platform, anywhere, and at any time, so long as they have an internet connection. A virtual data room is a perfect solution for any company needing to securely store sensitive documents and information and make it available to a specific group of people. Your company can upload data, making it instantly accessible to anyone who’s authorized to view it, regardless of location.
In addition, once their access is no longer needed, your company can revoke access to any documents they’ve downloaded with the digital rights management (DRM) software that plays an integral role in the virtual data room. Here are five reasons why your business needs a virtual data room.
1. A virtual data room makes collaboration more efficient and secure.
With a VDR, your organization can quickly and efficiently collaborate on documents, presentations, or other business projects in real-time in this secure virtual space. Documents access and changes can be monitored, reviewed, and reinstated as your company’s needs evolve. Furthermore, document editing can be limited to only users who need access. As a result, collaboration is easier while being much more secure than other file-sharing systems.
2. VDRs provide complete control over sensitive documents and data.
When your business owns and licenses intellectual property, your virtual data room has DRM software embedded within, so you can determine what information you share and with whom. Additionally, as the copyright owner, you control whether these sensitive documents can be copied, pasted, transferred, or downloaded by specific users.
3. A virtual data room allows you to modernize your business.
Today, many companies still use file transfer protocol (FTP) to upload large amounts of data to a web-based server to share with other organization members or authorized users. However, this technology is outdated, making data-sharing slow and significantly less secure than modern systems. With this data room, you can bring your business into the 21st century while protecting your company’s sensitive data more effectively.
4. You can ensure that data is secure when forming strategic partnerships.
When your business is looking to form a strategic partnership with another organization, you’ll need to share specific data with them. Unfortunately, when you depend on other file-sharing systems like Google Drive, you have no control over what users do with your documents once they’re shared. With a virtual data room, you can limit permissions so partners can only see what they need to see and not share your information with unauthorized users.
5. VDRs allow businesses to track any access to sensitive documents.
If your business needs to track access to sensitive information, a virtual data room is the solution. Audit logs are a standard feature on most VDRs, allowing you to see an audit log of anyone who accesses, downloads, deletes, or edits a file. Furthermore, if a data intrusion occurs, your audit log will track it automatically. This way, you have complete knowledge of all information related to your shared documents.
Keep your business secure with a VDR.
With a VDR from a company like Caplinked, you can rest assured that you have complete control over your company’s sensitive documents.