5 Advantages of using Data room software for transaction Management

Virtual Data Rooms are widely used in the business sphere as secure means of protection against unauthorized access to information. In this article, more about it.

virtual data room – the best alternative for a secure working environment

Thanks to information technology, the level of economic opportunities in various areas of production have risen sharply. But today the situation with e-business remains quite difficult. This is due to the problems associated with the organization of e-business security, protection against cybercrime. Businesses must protect their assets from accidental or criminal internal and external misuse. Customer information must also be protected.

Virtual Data Room (VDR) enables the secure exchange of important financial and legal documents as well as sensitive customer information. This type of software is used by law firms, accounting firms, commercial real estate agents, and any company that wants to ensure that due care is taken. The typical functions of the VDR software include access control with the option to revoke access if necessary and to secure the archiving. For related solutions, you can see DMS software (document management).

What are the benefits of Digital Data Rooms?

Among the advantages of using VDR, there are:

  1. The cloud Data Rooms offer a secure way of protecting business documents with sensitive or even secret content from being accessed by third parties, including employees in your own company. For companies, in particular, outsourcing their confidential data offers an opportunity to outsource their data to a secure location. The constant access option opens up advantages to access the data while on the go, externally, or from the home office. The high-security precautions offer the appropriate protection of the documents located in the Data Room.
  2. The content of the constituent elements of protection, methods, and means of protection are regularly changed in order to prevent their disclosure. The following security mechanisms are being implemented: encryption, electronic digital signature, access control, data integrity, authentication. Encryption is the task of maintaining the confidentiality of information transmitted. Encryption involves the reversible conversion of information for concealment from unauthorized persons while providing access to this information to authorized users who have a certain authentic key.
  3. Security is one thing, ease of use is another. If the Digital Data Room is not easy, flexible, and practical to use, you will not use it as intended. Before making a specific decision on a particular Data Room, it must therefore be clarified on the one hand whether there is a Microsoft integration so that all Office documents can be securely processed from the service. On the other hand, a full-text search and automatic versioning should be available so that documents can be found quickly and the respective change steps can be traced chronologically. 
  4. The uniqueness of the VDR solution lies in the integration of the software with DRM-protection of documents, which, like AD RMS and Oracle IRM, allow you to control access to documents even after they are unloaded from the virtual data room by third parties.
  5. The most important advantage that you get with a Virtual Data Room is complete control. Neither FTP nor public storage will be able to provide you with such an opportunity. Using DRM protection technology, you have the power to revoke the right to access a document even after it has already been outside the corporate network. You can learn more about the functionality of the room during the free test period.