Four benefits of using a virtual data room

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Date: 21 January 2020

Two business colleagues share data securely using a virtual data room.

In this ever-more digital world, entrepreneurs have an increasing number of technologies at their disposal. When you are starting a new business, it is important that you take the necessary measures to make it secure.

Most businesses these days store their data in digital form, and while you can lock hard-copy files in a secure room, you cannot do the same for virtual ones. That's why it is recommended that you use a virtual data room (VDR) for your business data.

Let’s have a look at the benefits that VDRs provide.

Store data safely

Data is valuable, and if your data is stolen or compromised, your business can face serious consequences. But when you are using virtual data rooms for storage, the only people who can access the data are those who have been granted access.

That way your important files, like employee contracts, their personal information, medical reports and everything else will remain fully secure. You also don't need to worry about losing the files, either, as they are securely saved and backed up.

Share files securely

When a business has to share data with clients, employees, and other companies, it is always a risky move. No matter what method you are using for sharing the data, there will always be the possibility of someone getting unauthorised access.

With virtual data rooms, you will never have to worry about it. Those who have access will be able to share the data through the VDR, reducing the risk of it being intercepted by bad actors.

Also, you can set access levels in a VDR, which means that not every user will be able to view all the data. An authorized person will only be able to access the files for which he or she has the right permissions.

Cut your costs

When you start using a VDR, you no longer need a storage room at the office to store hard copies of your files. This can save you a lot of money because you will eliminate the excess use of paper, photocopiers, stationery, and folders. This gives you more money to put into your business.

Not only does physical file storage cost you more to set up, it can also require more effort to manage.

Speed up your processes

Let’s say that an employee is working on a document - but when he has finished and printed it, he realizes he has made a mistake. He will have to go through the process of printing again, wasting time and resources.

VDRs are perfect platforms when it comes to working on time-sensitive projects. You can create, edit and approve files in no time at all. It is also easier to share files with co-workers in other locations, while still keeping it secure.

Copyright 2020. Article made possible by Robert Hernandez, head of blogger outreach department at Globex Outreach.

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