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Many people are familiar with file sharing services like Dropbox or Google Drive. They’re not as easy or secure as a business VDR that is designed for usage in the business sector. With an enterprise VDR users can securely work on documents in real-time and block access immediately if there is an attack on their security. A VDR lets administrators get detailed reports on document activities, including the length of time each document was viewed by whom.
Many business rely on a virtual data space to facilitate complex financial transactions as well as other mission-critical processes. Investment bankers, VCs and private equity firms frequently analyze several deals at once and generate reams of data that need to be organized and secure distribution.
A virtual data room can be used to speed up due diligence and identify key trends.
In the same way, energy and mining companies typically share large volumes of documents with investors and regulators. If you use the VDR for business, it’s simple to control access and guarantee compliance. With features like fence view with built-in redaction features, granular permissions and remote shred, a VDR can provide better online security than any cloud storage service. A reputable provider of business VDRs will also provide 24/7 support and prompt assistance if an issue arises.