The Differences Between Data Rooms and Cloud Storage

The decision between a virtual data room or cloud storage depends on the type of documents and business procedures that you have to manage. In some cases the virtual data space offers better security than traditional cloud technology. There are times when a simpler solution for cloud storage is more suitable. In any case, you need to spend the time to understand the differences between these types of solutions to help you determine which one is the best for your company.

Improve the capabilities of your organization

In a VDR it is possible to organize documents into folders with specific permission profiles based on job title and duty. Users will only have access to the documents they require to carry out their duties, minimizing the risk that sensitive information could be exposed to unintentional third parties. This is an important benefit that data rooms provide over cloud storage applications like Dropbox and Google Drive.

VDRs assist you in ensuring due diligence in M&A transactions and other financial transactions. They allow you to exchange sensitive documents in a safe environment. This lets you keep information from being leaked, and close deals quicker. Most data rooms come with advanced security features, such as watermarking, which may include the recipient’s email address, and screenshot prevention to prevent the misuse or sensitive materials.

Certain data rooms, like FirmRoom and iDeals offer extensive analytics that go far beyond the standard usage statistics. They allow you to monitor the activity of users at a very fine level, such as which documents are being viewed and how long they have been looked at for. These details can be helpful in determining the most important content as well as to schedule follow up meetings with stakeholders.

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