How Dataroom Providers Can Help You Survive the COVID Crisis

Many companies have come in handy more than ever with data rooms during forced self-isolation and the need to switch to remote work. However, during this period, even the smallest enterprises had to take care of the secure online exchange of documents. So, data room providers had to work harder to improve their software. The results of this work are available at

Using a unique web application, you can organize a safe and secure exchange of data that is of great confidential value. Moreover, this exchange can occur within the company and outside it. The technology used in virtual data rooms is a real breakthrough. It can replace personal meetings, conferences, and paper workflow, while interaction is quite fast.

Features for Secure Document Sharing & Enterprise Collaboration

Due to unique features and constant updating, virtual data rooms have gained tremendous popularity and prevalence among companies from various fields. It is especially true during the pandemic when it was necessary to organize stable work during a crisis. So, these are:

  • Document management. You can drag and drop file upload, save time with bulk upload, upload files in any format, find files quickly with labels, apply to auto index numbering and full-text search, integrate with Windows Explorer.
  • Document security. Thousands of users have appreciated built-in redaction, remote shred, dynamic watermarks, secure fence view, granular files permissions, and secret spreadsheet viewer.
  • Ease of use. Your work is greatly facilitated by the absence of the need to use plugins and Java. Besides, you can use a single sign-on, mobile user interface, multilingual access, scroll-through viewer, and mobile apps.
  • Access security. Be sure to test all the facilities of data rooms for due diligence. Apply to control and expiration, create time and IP access restrictions, granular user permissions, user security impersonation, two-factor authentication, and mobile device management.
  • User management. To make this task easier for you, providers have implemented the following measures: single or bulk user invitation, arrangement of detailed user permissions, settlement of Excel viewing permissions, easy group setup, and notifications.
  • Reports. Here, we are talking about full audit trails, track user activity, color-coded reports, and group overview reports.
  • Q&A. It’s really beneficial to arrange FAQ sections, live discussions, assign experts, granular access to threads, question status, complete Q&A reports. Besides, VDR vendors provide valuable educational tools for new bankers, M&A department employees, etc. can get new knowledge and experience. An intuitive interface will also ensure standard email features, such as carbon and blind copy and forward option.
  • Speed and availability. Thousands of business projects and companies worldwide rely on virtual data room software to access their business-critical documents. 
  • Customization. You can customize the header, footer, and watermarks, apply language settings, and define terms of access.
  • Security compliance. Best providers (iDeals, EthosData, SmartRoom VDR, etc.) use multiple SSL protocols and data centers that employ physical security, biometric entry authentication systems, and various layers of surveillance.

All information stored in the data room is properly structured. It is an unlimited secure online storage. Besides, the system administrator can track all the actions that a particular user makes, which increases the system’s already high level of reliability.

Keeping Your Business Safe During Pandemic

During the pandemic, when many businesses switched to a remote mode of operation and some closed, it became challenging to interact, and cases of hacker attacks and fraud increased. Creating a safe and multifunctional virtual space has become a crucial task, which data room providers have coped with well. The security of document exchange within data rooms is achieved by using the most advanced algorithms for data encryption and access control. In particular, the two-factor user identification methods used in work make it possible to achieve such a situation that only those users who have appropriate authority have access to a virtual data room. It guarantees high security of documents and eliminates the risk of data loss or damage. As a result, you can be calm about your business and solving vital everyday issues:

  • Providing quick and convenient access to information to a limited circle of people of the company with whom you are building partnerships.
  • Ensure the security of the documentation you provide access to.
  • Destroy data promptly after the project has been completed or a particular goal has been achieved.
  • Ensure the automation of the processes of negotiations and approval, granting and revoking access to algorithms for storing and exchanging files.
  • Control and coordinate the temporary entry of a group of persons to a virtual data room.
  • Provide secure access to information for all participants of interaction using encryption and archiving mechanisms.
  • Set the lifetime of the data room and the destruction of the documentation stored in it.

Strictly speaking, this is a secure IT space, which is dynamic in addition to everything. This space serves to store and view documents that you and your partners need to conclude a full-fledged transaction between a buyer and a seller concerning certain resources. These resources can be stocks, goods, and various services.

To Conclude

The solutions of modern data room providers offer you access to information of any level of importance, controlled at all stages. For example, with the help of dataroom software, you can view and print documents presented in electronic form. Moreover, the interface that such applications are equipped with is understandable at an intuitive level. As a result, managers who implement VDRs in their enterprises can be sure that employees will be able to entirely focus on work without wasting time learning how the new application works. By becoming a VDR client, you have a unique opportunity to use practical software tools according to your needs during a crisis. Moreover, if you do not have your resources for working with them, you can always contact the specialists of the selected vendor who are ready to help you 24/7/365.