Is your startup wasting space housing all of its proprietary data and files? Do endless rows of filing cabinets fill your storage area? Would you like a way to increase productivity and gain control of your files and data? If so, you are not alone. Companies around the world are transitioning to a virtual data room (VDR) to house all of their important files and documents.
A virtual data room stores your business’s files and documents in a secure, virtual space online. These VDRs allow employees to quickly pull up files and documents they need. Additionally, these files can be shared with company leaders, investors and clients using a secure system.
Transitioning to a virtual data room takes time and money; however, the benefits that this service offers far outweighs the cost. VDRs offer the following benefits:
– Ease of Access
In today’s technologically advanced and connected world, storing hard copies of files in your office does not make sense. With a virtual data room, your files are available no matter where you are. This system allows you to share your documents with others in your organization, minimizes the risk of a data breaches and increases productivity in the workplace.
– Reduced Overheads
Although converting to a virtual data room requires an investment in the beginning, they long-term benefits are worth it. Once all of your files have been converted to a digital format, you can lower the cost of office supplies and reduce overhead expenses. Additionally, should a disaster happen, such as a fire or a flood, you will be able to access the files stored in your VDR. This means greater continuity of the services you provide, which is crucial to client satisfaction.
– Improved Due Diligence
Virtual data rooms allow multiple employees to view files while maintaining due diligence. During a meeting or fundraiser, key decision makers can review your sensitive information in a controlled environment. Furthermore, the VDR allows keyword searches to be performed, which can help your employees quickly find the information that they need to expedite a transaction.
– Increased Transparency
Virtual data rooms help you to understand your investors and clients. For example, when you view a document from a VDR, you will see all the activity that has occurred regarding the file. This includes how often the file is viewed and what information is generally needed. This information can help ensure that you approach each transaction strategically based on the needs of the client.
A virtual data Room is the safest solution for all of your files. Using a VDR will equip you with the latest technological securities to keep your files safe. Activity alerts, permission-based controls and two-factor authentication ensures that sensitive company information remains secure, yet easily accessible to you and your designated employees.
If you are looking for a way to securely store all of your files and document and free up space in your office, look no further than a virtual data room. This technology converts all of your files to a digital format, which allows you to access them securely anywhere you have internet access.
If you’re interested in a virtual data room, then Merger Technology reviews a wide range of them. They look at a lot of the pros and cons of the rooms on the market. So, if this article has pushed you towards considering one further it’s a good place to start.