Working from home (WFH) became a new norm in the pandemic-ridden world. This new reality forced us out of the comfort of our offices and into the remote work environment. How can we handle documents in this situation through the use of virtual data rooms? Let’s find out.
How virtual data rooms help on remote?
Virtual data rooms are cloud storage spaces designed for the data needs of companies. These file repositories are replacing physical data rooms during mergers and acquisitions (M&A) deals and other high-value transactions, especially now, during the Covid-19 era.
Unlike traditional cloud storage services, virtual data rooms are created with security in mind. This is the reason they offer enhanced data protection and a full suite of other benefits for businesses of any scale and size. Let’s overview the top five benefits of VDRs in the age of remote work:
1. Protection and encryption
VDR needs to be accessed by the interested party in a safe manner. This is why special protection and encryption steps have been taken to make sure that the file transfer goes according to plan. Remote workers can oversee what happens to the documents and who has the permission to view or even edit them.
2. No need for an admin
As there are no physical documents in the virtual data room software, you don’t need to employ a data room overseer. Employees or parties to the transaction can search for the required documents using the search console, and finding files is much easier in the digital realm than ever was in the physical one.
Without a person overseeing the documents and without printing the documents, the company saves costs on VDRs. The operation to retrieve a document is no longer connected to going into a room; only by looking on a screen and clicking a couple of buttons. That’s essential during remote work.
4. Customer support
And even if the employees don’t know where the data is located in the virtual data room, data room providers also come with customer service. They are always happy to help you with any issues we might encounter. The VDR providers are competing over who has got the quickest customer response time, further confirming that the client and their well-being on the platform is one of the companies’ priorities.
5. Data and activity tracking
Probably the most helpful feature of the virtual data room is its ability to track who accessed documents. The data room administrator can see the changes made, who looked through what documents, and other activities related to the shared data. This helps in delegating tasks to team members and keeping track of what still needs to be done from the comfort of the employee’s home.
The world has changed, and companies change with it. Thanks to technological solutions like virtual data rooms, employees can work on sensitive documents from any place in the world. There is no better time to implement the virtual data rooms into your business.