Data leaks are a problem that more and more corporations face every year. The reliability of data protection, the ability to quickly resolve problems, and increase the speed of business operations are the main advantages of VDR. In a world where information is perhaps the most valuable resource, such qualities are especially in demand.
The use of virtual data rooms is gaining momentum. Initially, they were used mainly in the financial sector. However, today they are preferred by corporations from biotech, the legal industry and the public sector, consulting, and many others. The demand is confirmed by statistics: according to a study published by Markets & Markets, the market for virtual data room providers will reach $1.8 billion by 2022 with an average annual growth rate of 14.8%.
Online deal rooms are perfect cloud storages in which joint work is carried out on documents. These portals provide services of a high degree of protection of information and allow businessmen to exercise control over its processing, minimizing any risks of illegal use.
Benefits of Using Online Deal Rooms
By studying virtual data room reviews, people understand that the system features lots of helpful tools. So, below are the advantages of virtual data rooms in comparison with other document management systems:
The use of virtual data rooms saves hardware purchases and the cost of deploying and maintaining a data center. With them, you can also save on software purchases by using the provider’s applications.
Advanced Protection System
The majority of electronic deal rooms offer advanced security features that allow you to check data for malware, restrict viewing, use file encryption, apply watermarks, and use a multi-level system of information access permissions. All this allows you to minimize the risk of it getting to third parties.
There is a solution whose developers have gone even further to protect information from unscrupulous employees working with documents. They introduced ILD (Information Leaks Detection) technology. ILD is a state-of-the-art document leakage control system based on a patented marking algorithm. It allows you to automatically create in the process of working with a document its new copies.
Among the main advantages of ILD is the creation of a comprehensive security mechanism, which is also connected to the information displayed on the screen and paper documents, traditionally not protected from unauthorized transfer to third parties. The system allows you to reliably detect the culprit of an information leak even by scanning a paper copy or photograph of a document from a computer screen. Thus, the information that the culprit will be discovered in any case perfectly protects sensitive information from leaks.
Increasing the Speed of Work
Participants in business processes are interested in working with data as quickly as possible. VDR guarantees a high speed of data loading into the system as well as the synchronous launch of several processes at the same time. Another important factor is the absence of the need for a personal meeting between the participants in the process and to resolve issues remotely.
Mergers and Acquisitions Due Diligence
Today, it is one of the most popular formats for using VDRs because large amounts of confidential information are exchanged during the M&A process. Members need assurance that their assets and intellectual property are well protected. VDRs have a huge number of tools that greatly simplify the process of merging companies. The faster and more accurate information is transmitted between the participants in the transaction, the higher the probability of its successful completion. These programs direct the flow of information to the right people, saving time and cutting costs.