VDR solutions have become a vital part of every corporate structure. What a Data Room is, what advantages it offers, and where it is specifically used will be examined in more detail below.
Where do we use VDR?
Just as the Internet has revolutionized the way people communicate VDRs have revolutionized the transaction process. The move to this one online platform is inevitable. The use of VDRs continues to increase, digitization and globalization are two reasons for this. Companies operating all over the world benefit from this in international projects. Documents with sensitive data and time-critical information are accessible to several participants, even outside the company, through Data Rooms. So, what is the VDR meaning?
A virtual data room (VDR) is a secure collaborative tool that holds one online storage center for data. These data rooms are used to transmit confidential information efficiently and securely.
As already mentioned at the beginning, VDRs offer different parties the possibility of a secure and controlled exchange of data. By controlling the present, denying unauthorized access, and preventing the removal and copying of documents, a physical Data Room is reproduced in the best possible way, but with the advantage of being able to access it from anywhere in the world with Internet access.
The digitization of documents also saves resources and time. All those involved, depending on the project, can access the information relevant to them at the same time and work together much more efficiently. Working paperlessly both protects the environment and saves time and money when you no longer need to print out documents. At the same time, it also ensures greater security, because files stored in the VDR cannot be forgotten or lost. One of the other advantages of the software is that they accelerate the course of projects and transactions and save costs.
The best examples of VDR software
The most important Data Room providers in the market are listed below:
- Grau DataSpace is particularly suitable for setting up Data Rooms in your own data center. The solution scores with a large selection of clients and many security functions.
- Brainloop scores in the test with a company-oriented security concept and very good equipment. Another plus point is the intuitive operation.
- Netfiles is a practical Data Room that offers the professional many options. For example, data exchange can be secured and time-limited using a password.
- Teamplace presents itself as a simple and intuitively usable Data Room solution. The software cannot keep up with the functionality of other products, but the price is extremely cheap.
- The Drooms is characterized by question-and-answer logging, which is particularly suitable for negotiations with business partners.
- Merrill is a US company with European sales offices in the UK, Germany, and France. The company was founded as a printing company in the 1960s and has built up various services and solutions in the IT sector over the past few decades.
To summarize, if you want to process complex, business-critical documents in a revision-proof manner, the Brainloop is most likely to address you. If, on the other hand, you just want to quickly provide the documents to a project group, the Teamplace will be the perfect variant for you, especially since it makes sense to use it even in the free version.
IT managers and CIOs, who want or have maximum security and are not ready to hand their data into the cloud, are more likely to resort to solutions such as Grau Data, or Intralinks, or iDeals. And those who value negotiating comfort are sure to find something special about Drooms practical question-and-answer logging.