Virtual Data Room FAQ – The Basics Covered

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Across the United Kingdom and the rest of the world beyond, virtual data rooms are slowly but surely becoming the new standard for thousands of businesses at all levels. As the world moves closer to an era where cloud computing takes over and to a large extent revolutionizes data-management, handling and communication, forward-thinking brands are already scrambling to both gain an edge over the competition and make the most of an extraordinary array of benefits.

At the same time, however, there are even more brands and businesses…small and large alike…that have yet to get to grips with both the idea of the virtual data room and why exactly it can be so beneficial. The simple fact of the matter is that in any business where data represents a core element of what goes on and keeps operations in motion, the VDR has the potential to bring a series of incredible benefits – most of which do not become apparent until this cutting-edge resource is tapped into.

Virtual Data Room FAQ – The Basics Covered

So for those still unsure about the whole VDR revolution and what it means for the average business, here’s a quick FAQ to cover some of the most important fundamentals:

What Are Virtual Data Rooms?

In the simplest of terms, virtual data rooms offer an extremely convenient way of storing, accessing and sharing information by way of a secure Internet connection.  Perhaps the best way of looking at the idea is as something of a remote or ‘virtual’ version of a standard physical room in which data is stored and accessed by those who use it for any given reason. Instead of there being a standard physical data room on or off the premises, all data is stored on the cloud. As such, the data becomes instantly available to anybody in need of it on a 24/7 basis and from anywhere in the world with a secure Internet connection and the required authorisation. In any business where data storage and access to data are of importance, the VDR can be hugely advantageous.

Is It the Same Idea As Standard File Sharing, Like DropBox?

In a sense, the answer is yes, though at the same time there are massive differences between the elite virtual data room and the generic file sharing programs offered free of charge to anyone. In a nutshell, the biggest difference is the way in which a professional VDR is built from scratch with security as the primary concern. This is quite to the contrary with services like DropBox, which although demand passwords and the likes to access are nowhere near secure enough to be used for the storage or sharing of sensitive business data. Along with a wholly higher level of security, the professional VDR also offers a range of additional customisation options for the convenience of the business, along with streamlines access, sharing and data management tools for maximum usability. What’s more, a good VDR service will also offer a 24/7 customer care package as standard, which again is a non-entity with standard generic file sharing programs.

What Are the Benefits of a Virtual Data Room?

As already touched upon, perhaps the biggest advantage of the virtual data room is the way in which it allows sensitive and important data to be guarded with outstanding security. To work with a competent and professional service provider is to know that all data is not only stored securely, but is also actively monitored by professional teams on a 24/7 basis. Not only this, but when using a virtual data room it is also possible to track and store every instance wherein data is accessed or in any way utilised, with the record’s being kept of what was accessed, how it was accessed, where from and by who. This in turn ensures maximum accountability and the ability to meticulously watch over all access and data utilisation.

Are Virtual Data Rooms Expensive?

Expense is all relative as when it comes to extraordinary convenience and security, there’s absolutely no disputing the kind of value for money on offer. What’s more, it’s largely impossible to compare the costs of even the most advanced virtual data rooms currently available to those of setting up and operating a physical data room.  What’s truly great about the virtual data room is the way in which no specific additional hardware is required to make use of the service and nor is any specialist software necessary – all needs are usually filled by the service provider. And with no on-going maintenance or repair costs attributed to hardware, the subscription price you pay is the only price you pay.