The Differences Between Data Rooms and Cloud Storage

The decision between a cloud or a virtual data space storage is contingent on the type of documents and business here procedures that you must manage. In certain situations it is the case that a virtual data room is the best choice because of the improved security features it offers when compared to conventional cloud technology. There are instances when a simple cloud storage solution is more suitable. In all cases, you need to spend time to learn the differences between these types of solutions to help you determine which one is the best for your business.

Improve the capabilities of your organization

In a VDR you can arrange documents into folders and assign permission profiles based upon job title and duty. This means that users only be able to access the documents they require to perform their duties and reduces the risk of sensitive information being exposed to unintentional third parties. This is the major benefit data rooms enjoy over cloud storage applications like Dropbox or Google Drive.

VDRs support the due diligence process of M&A deals as well as other financial transactions by providing the ability to exchange sensitive documentation with parties in a safe environment. This allows you to prevent leaks of information and to close deals more quickly. Most data rooms include advanced security features, such as watermarking, which could include the email address of the recipient and screenshot protection to ensure the safety of confidential materials.

Certain data rooms, like FirmRoom and iDeals, provide extensive analytics that go beyond the basic usage statistics. They let you monitor user activity at a more detailed level, including which documents are being looked at and the length they have been seen for. These data can help you determine the most important content, and set up follow-up meetings with key stakeholders.

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