Virtual data rooms have not only outplayed traditional physical data rooms, but they are far ahead of other online data storage platforms. Remote access is one primary reason why data room software is a highly demanded solution in the modern-day business arena. However, it is the highest level of data security and safer data sharing that makes an electronic data room a much better option than many other similar tools.
High-quality data rooms not only make sure you can store your documents safely but also make document management easier for you. You can manage hundreds and thousands of files, retrieve documents in a matter of seconds, and schedule file sharing on future dates.
How else can you manage your business documents? Read on to learn some amazing document management features of virtual data rooms.
What is electronic data room software?
An electronic or virtual data room is a digital, cloud-based data storage and management solution for corporations, government institutes, firms, service providers, and professionals all over the world.
Virtual data room software is used as a data repository where the users can easily access, upload, share, edit, and download business documents. Data rooms support any globally recognized file type such as images, audio, documents, videos, etc.
Secure document storage and management is not the only forte of global data room services. You can use this multi-dimensional business solution for online interorganizational and intra-organizational communication with the help of VDR chat messengers, Q&A modules, and audio or video conferencing tools.
In addition to that, virtual data room software is one of the safest online deal rooms available right now. You can use data rooms to conduct such data-sensitive transactions, whether it is an M&A transaction, fundraising, real estate trades, asset sale or purchase, initial public offerings, and project bidding.
To find out more about virtual data rooms, their use cases, benefits, and top solutions on the market, head over to https://dataroom-providers.org/clinked/.
Secure document management and file sharing with virtual data rooms
1. Store your data centrally
If you are using a virtual data room, you don’t have to worry about data being dispersed in different locations. Any organization is composed of multiple sections and departments that maintain their separate databases. Apart from that, subsidiaries and child companies also keep their separate data repositories which make data access a lengthy process.
However, data room software is a centralized data storage solution where your business teams and departments can store their documents on a single platform. They can easily access documents whenever needed and know where to look for a certain document or record.
2. Share documents in a controlled environment
Centralized data storage system is easy to manage, but how can you make sure that irrelevant users cannot access documents in your data room software?
Thankfully, virtual data room providers have a solution to this problem. Here is what you can do to prevent unauthorized access to documents in your VDR.
- Create user groups. In virtual data rooms, you can create multiple user groups and add relevant employees to them. For example, you can create a group for the tax department, add employees from the tax department, and upload all documents your employees need. Furthermore, you can define document access settings for different users within the group.
- Restrict document access. You can also limit the access of users in your virtual data room based on their roles. That said, if you don’t want to create groups, you can add users, upload documents, and define who can access specific documents and who cannot. If a user needs to access any specific document, they can initiate an access request, and you can decide whether access should be granted or not.
- Schedule data sharing. If you need to share documents with users on a future date and time, virtual data rooms allow you to schedule document sharing accordingly. You can define the recipients, the documents to be shared, and the date of sharing.
3. Organize your data according to your needs
Before adding documents to user groups, VDR administrators usually have to upload documents to their accounts and then add them to different groups accordingly. You can either create folders in different groups and add relevant files or upload them in general folders and make them accessible for users according to their roles.
Data rooms can help you organize data in any way you want. You can create as many folders as you want, link different documents, and arrange files according to their names, sizes, or your preferred sequence. Similarly, many high-quality data rooms have an auto-indexing feature where every uploaded document is indexed (a file number is allotted to the document) automatically. This way, you can arrange and retrieve files based on their index numbers.
Summing it up
While safe data storage is a forte of virtual data rooms, they also make sure you can organize and manage your business documents in the best and most effective manner. Apart from that, data room software makes data sharing centralized, more controlled, and better organized. Consider using a data room if you haven’t used it before — and reap the numerous benefits for your business!