Need a secure online repository – we have reviewed some for you!

Traditional local storage solutions can be unpredictable in terms of cost, performance, and scalability, especially over time. Big data projects require large, accessible, and reliable, highly accessible data storage pools. In this article, we will investigate Virtual Data Room which is a secure online repository.

Data Room – a perfect innovative solution for your needs

Many people are familiar with Data Rooms in the area of due diligence in corporate and real estate transactions. A virtual data room (VDR) is an online storage facility for the backup and distribution of strictly confidential and sensitive information. The data room enables interested parties to see business information in a controlled environment while maintaining confidentiality.

The main features of cloud technologies are the ability to scale the storage infrastructure and dynamic capacity management, which will free the user from managing complex technology.

Virtual data rooms are typically used by law firms and financial organizations to facilitate the valuation process in mergers and acquisitions, credit mergers, equity or venture capital transactions. Since in principle every consumer and business process is digitized, the need to secure and share sensitive information is growing. What is needed is a solution that offers the ease-of-use and cost-effectiveness of a consumer file-sharing application, while also allowing the data-centric security features necessary to protect your highly confidential, personal, or business information.

Why should you choose a Data Room service?

There are the following reasons:

  • Clearly access authorizations. As the owner of virtual data room software, you must be able to be sure that only authorized persons have access to the documents in the data room. Operators and manufacturers should also have no access options. This is the only way to guarantee the highest level of security.
  • Flexible self-service control. You should be able to flexibly configure, control, and perform all administrative processes yourself. This eliminates dependence on expensive services from the provider.
  • Individual conditions of use. Customizable usage conditions and defined access times make it extremely easy to administer your virtual data room.
  • Complete documentation. You should be able to check at any time who has accessed which documents and when. Complete and audit-proof documentation is essential!
  • Easy access with mobile devices. Users should be able to access all data in the data room at any time and from any location – even from mobile devices. With worldwide mobile data access, you always have your office with you.
  • Flexible term. The duration of the contract should adapt to the length of your project. Ideally, it can be canceled at any time without complications.
  • Document protection. In audit-proof data rooms, documents should be protected against unauthorized disclosure or duplication by means of suitable measures – for example, watermarks. An alarm function against massive downloads is also useful.

The overview of top-rated Data Room solutions

Today`s market of digital technologies presents many useful services for the secure storing of data. Cloud technology in the form of SaaS products is a great solution for medium and small companies.When you are dealing with sensitive information you need to find out a complex solution.

The list of the popular and trusted providers comprises the following software:

  • iDeals
  • Mega
  • Vaulterix
  • The SecureDoc
  • SpiderOak
  • Merill
  • Intralinks
  • Drooms
  • Imprima
  • Onehub
  • Firmex
  • BOX VDR

This list can be continued with additional software and online services that become available to users of Data Rooms. The main and most important advantage of these cloud services is the ability to use them for free.