Electronic data rooms became truly trendy within the past a couple of years. Companies get differing advantages using them. So there is no wonder the deal room market became very big and profitable. Brand new providers appear all the time, and every one of them is willing to astound customers with interesting features on this endless war for the loyalty of the audience.
But do electronic data rooms really differ that much from ordinary cloud storages? And why would a company pay for it? Since there are many individuals who will ask these questions, let’s learn the technology behind the digital data room.
What is a online meeting room?
Let us begin with the basics and take a look at the software itself. It is a virtual repository where brands can store their sensitive data. But even considering that it is the main ability of such technology, the list of its instruments doesn’t end on just being an archive. Virtual meeting room offers its users a complete interface for all company interactions. Here team members can exchange the information, talk about issues, get ready for meetings and much more. Basically, implementing this technology a corporation will have a broad range of important features that will allow to improve the work of the team and whole brand.
So, whilst generic virtual storages can only give a virtual space so a firm director can store the data there, deal rooms intralinks data room are a complete business tool. These tools can be used for Due Diligence, Mergers and Acquisitions, fundraisings, IPOs and other business processes.
Protection is above all
For sure, not every enterprise interacts with the classified information on the every day basis. But although this data can be not really valuable, any entrepreneur would want to get their data stolen or illegally used. Virtual repositories like trendy Dropbox or Google Drive are not actually safe – different cases of data leaks have shown it to us quite clearly.
So, the main difference of online meeting rooms is the data encryption and different methods of protection. Of course, generic online repositories encrypt their transmission lines too – but not exactly the transferred information itself. And if someone has a direct link to the file, it can be easily stolen by malefactors.
Online meeting room providers encrypt not only transfer lines but the information as well. There is no way they will go through any kind of threat caused by malicious acts of hackers. Additionally, all deal rooms have a two-factor authentication. It means that to log in the user will be asked to enter the code that was sent to their phone in an SMS when signing in.
Additionally, the owner of the digital data room can control the amount of access other employees have. Settings can be changed at any second. And if any extraordinary situation appears, the room administrator can eliminate the file remotely or cut the access to it.
Unlike generic virtual storages, digital data rooms are meant to improve the working process of the corporation and among partners. So on top of that that users can exchange documents with each other, they can as well be involved in talks, take part in different votings, create Q&As and much more. It is quite comfortable to have all instruments in one interface.
Also, directors have a possibility to track the workflow of their companies in the data room . Some providers even offer an artificial intellect implemented in their apps. It helps to predict events and trends and get more detailed insights. Besides that, business owners can track thparties and notice if there are some problems in the workflow of the company.
In conclusion, there obviously are diverse reasons to implement a virtual data room in your brand and stop using generic virtual storages . When you try a virtual deal room, you will never want to stop using it.