Electronic data room for working with external stakeholders

Modern business has undergone many crises, stress, and changes. The last of the significant events that changed the way business works was Covid-19. It once again proved the importance of flexibility in the company’s scheme, which would allow them to work equally effectively both in the office and remotely. Moreover, with the help of advanced technologies, it becomes much easier to adapt to new conditions. So, with a virtual data room, you can perform your usual activities, complex financial transactions, and communication with stakeholders remotely. In this article, we’ll look at the benefits of VDRs in more detail.

What is a virtual data room, and what is it used for?

Virtual data rooms are more than just cloud storage. These spaces are trusted business applications that will enable risk-free sharing of sensitive information both internally and with stakeholders and perform various business operations securely and efficiently.

They provide easy and instant access to the space anytime, anywhere, with many automation and useful collaboration features. For example, VDRs allow you to make notes and queries, control the progress of projects, and track and adjust document access levels. This set of capabilities enables business owners to use VDRs in various areas and processes, such as mergers and acquisitions, due diligence, audits, IPOs, fundraising, and more.  

Major benefits of data rooms when working with stakeholders

Data rooms pile up many different benefits that make almost all business processes more straightforward, and below, we’ll look at how VDRs can simplify your company’s stakeholder outreach:

  • Accessibility – face-to-face stakeholder meetings have always been filled with challenges because many factors can get in the way of organizing them, plus they take a lot of time. The Electronic data room provides access for authorized users from anywhere globally and on any device. You can get all the materials you need and ask questions inside the space. In addition, VDR does not require any plug-ins or other complications, and its use is effortless for any user
  • Scalability -When programs have too much data, they slow down unintentionally, but VDRs can continue to run fast and efficiently no matter how much information is loaded
  • Collaboration tools – Data rooms allow you to share a document and edit it, and the same principle can be used to work on projects together, leave comments and notes, and send queries. Also, VDRs have a question-and-answer section, with which you can address your questions without leaving the space and without sacrificing quality privacy

Virtual Data Room Security

Virtual Data Rooms are considered the most secure online tool for storing and sharing data. They are certified software that has proven reliable to thousands of companies worldwide and has reduced community data breaches and increased productivity. The main security features offered by quality VDRs like vdraum.de are:

  • Continuous backups – keep data intact in all situations
  • Data encryption – protects against data theft, making it unreadable and useless. Encrypts data both at rest and during transmission
  • Digital Watermarks -Watermark your company over essential documents to protect copyrights and reduce the risk of leakage
  • Double Authentication – protects login from unauthorized entry and requires an additional one-time code to be sent to your phone
  • Audit logs -allows you to see every step of the user and other details
  • Access Control – allows defining which of users can or cannot see and interact with various documents