The Differences Between Data Rooms and Cloud Storage

The decision between cloud and virtual dataroom storage is dependent on the type of business processes or documents that you’ll be handling. In some instances the virtual data room is the best choice due to the superior security features that it offers in comparison to standard cloud technology. However, there are also occasions when a basic cloud storage system could be more appropriate. In any case, you need to take the time to understand the differences between these types of solutions so that you can decide which is the best option for your business.

Enhance the capabilities of organizations

In a VDR you can organize your documents in folders and assign permission profiles based upon the title of the job and the duty. This means that users will only have access to documents they require to fulfill their duties and minimizes the possibility of sensitive information being exposed to unintentional parties. This is the major benefit that data rooms have over cloud storage apps such as Dropbox or Google Drive.

VDRs assist you with due diligence in M&A transactions and other financial transactions. They let you exchange sensitive documents in a safe environment. This helps you prevent leaks of information and close deals more quickly. The majority of data rooms have advanced security features like watermarking, which could include the recipient’s email address and a screen capture prevention feature to stop the misuse of confidential information.

Certain data rooms, such as FirmRoom and iDeals provide comprehensive analytics that go far beyond the standard usage statistics. They allow you to monitor the user’s activity at a fine level, such as which documents are being viewed and how long they have been looked at for. These insights can help you decide on the most important content, and schedule follow-up meetings with people who are involved.

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