The use of virtual data rooms for many businesses has been becoming extremely popular, especially during this time of the pandemic. Because of the many advantages of using virtual data rooms compared to physical data rooms, several big companies and small companies have been making the switch of using virtual data rooms. Having said all that, here are the best features that virtual data rooms have to offer.
Security of the files
At the top of this list is that security. As many companies have been switching to digital and online means and having fewer physical documents, the security of the files has never been more important. Virtual data room providers help greatly in this regard.
Most companies opt for virtual data rooms in storing sensitive and confidential data. The first reason is security. This is because virtual data rooms can only be accessed by those with proper authorization. Some virtual data rooms are much more secure than others.
Files within the virtual data room can be set depending on the confidentiality of the files. You have the option of setting the file to view only, which means that those authorized to view the file cannot download it to their personal computers.
This means that confidential files cannot be leaked. You also have the option of allowing authorized people to download and edit the file. This is usually the case data that is not very confidential. There may also be instances wherein not everyone who has access to the virtual data room can view a certain file. You have the setting to set the file so that only a few can view it.
While not all virtual data rooms share the same features, most virtual data rooms have a good security system to some extent. Other security features that some virtual data rooms have include two-factor authentication, ID protocols, among many others. Generally speaking, virtual data rooms are significantly more secure than physical data rooms.
Convenience in organizing files and other processes
Another thing that virtual data rooms offer is a convenience when it comes to handling paperwork and other documents. For one, they don’t take up any space at all since everything is digital. Secondly, it is very easy to organize your files by label or by date, depending on your preference. With the technology of virtual data rooms, you can be sure that no file is misplaced, duplicated, or unorganized.
Whether it is a big company or a small company, there will come a time wherein they will have huge stockpiles of files from several years of operation. Sorting through these files would be a menial and tiring job if these files are all physical. However, with virtual data rooms, you can easily look for a file by searching it. It should only take a few seconds. What several minutes or even hours of sorting hundreds of files, you can do so in a few seconds if you are using a virtual data room.
Some virtual data rooms even have the feature of allowing you to search for a certain text. This is incredibly useful when you cannot remember the name of the file, but you remember only a portion of it or a portion of its content.
Many other processes are made more convenient with the use of virtual data rooms.
Tracking files and members
Most virtual data rooms today can track all the files and members. This means that you will know who entered the virtual data room, which file was viewed, how long the member accessed the room, and if the member edited the file. You can also use this for analysis on different things. You can track which file was viewed the most or which file was viewed least. You can use this to determine which file a member is most active in viewing. You can also track the changes to the files. This is great for transparency. This is also good for collaborating on a project. Members can each track the progress of a project by looking at the changes in the files and other updates.
Although there are many different platforms available for this, having a live chat feature in a virtual data room can be convenient since members can immediately access the files discussed during a meeting.
Live chatting can be very useful when the members of the meeting cannot be physically present in a room. Having a live chat feature in virtual data rooms makes professional meetings more convenient. Files needed to be accessed during the meeting can be viewed easily, members from far away no longer have to travel just to be present, and communication during group projects is easier. With live chatting, members can also review what happened during the meeting or a conversation by simply looking back at the messages previously sent. Because of living chatting, members can also be updated immediately when there is an emergency or an urgent matter that everyone needs to be aware of. It could be file changes or other important matters.
Faster file storing
Managing many files can be very tiresome and confusing. With virtual data rooms, however, you can just select the files you want to store and then sit back and relax. As already previously mentioned, organizing files in a virtual data room is very easy. Some computer programs require you to upload only one file at a time.
With virtual data rooms, you don’t have to. You can select multiple files and drag them into the room. This makes it good for time management. As for the organization of newly uploaded files, some virtual data rooms have what they call auto-indexing. What this does is that it makes the organization process more efficient, and you will have no trouble searching for information. Some data rooms have other features that are not found in other virtual data rooms. Nevertheless, these are the top 5 features that virtual data rooms have to offer.