A virtual data room is secure online storage for confidential files and sensitive corporate information. It is often used by businesses in the sale or purchase of a business transaction. The docurex data room solution is the best virtual data room for your business needs. docurex offers a variety of features that will make storing and sharing your valuable data easy and efficient. Contact us today to learn more about the virtual data room software!
The docurex® virtual data room
A virtual data room permits the centralized management and archiving of a company’s confidential documents, files, and records. At the same time, it provides different groups of people and bodies with access to this generally confidential information at any time, no matter where they are. These features mean that a virtual data room offers your company a significant competitive edge.
A conventional physical data room no longer satisfies the demands for an effectively and accessibly connected and globalized economy, be it in M&A processes, due diligence processes, or when sharing central corporate files or providing a portfolio of documents to a specific group of customers. In contrast, a virtual data room does it all.
Confidential, secure, and easy to use
A virtual data room, in effect a digital platform, is ideal for securely storing sensitive and confidential data. At the same time, it allows this data to be shared with a precisely defined group of users via several web applications.
This means that a virtual data room and the data and documents archived and managed within it are accessible at all times, no matter where a user is.
Combined with the latest security technology, it ensures both the redundant storage of critical documents online and the safeguarded sharing of sensitive information within your company as well as outside of its confines. With these features, a virtual data room provides several advantages to your business and your outside partners.
Providing a balanced and multi-tiered security concept is in place, a virtual data room increases the data and document security of your critical corporate assets (documents, records, personnel, business data, or intellectual property).
Moreover, a virtual data room is also capable of boosting the efficiency of your data organization by facilitating the precise analysis of activities within the data room. This permits the closer monitoring of noticeable erroneous strategic and operational trends and risks.
Share confidential documents in a virtual data room
The essence of working in a virtual data room is mainly comprised of the following actions every administrative participant in an online data room does:
- Create a data room for your specific need like Due Diligence, Merger, or other types of financial transactions
- Upload and store documents into the virtual data room
- Data Management: Organize and manage sensitive documents
- Establish document sharing rules
- Restrict access to the document storage in the data room
- Segment the rights to access sensitive information to groups of users in the data room
- Create user permissions and access rights for groups and users
- Monitor and report any data room activity
Alongside these tasks, data room administrators can also customize the virtual data room with the company’s logo and even adapt the corporate branding to their data rooms.
Virtual data rooms for the shortest transaction times
A virtual data room also enables companies to considerably speed up the processing of financial transactions or due diligence process. Shorter transaction times mean a direct cost reduction for you and your customers.
Huge time savings when using a virtual data room
This time saving can increase further, as in many cases, the outsourcing of corporate data to a virtual data room can make your own IT department redundant. Ultimately, a virtual data room helps to make your company more flexible, as multiple parties can simultaneously access records and documents independently from different locations across the globe.
Data and document management in modern virtual data rooms
There are many ways to use a virtual data room. In terms of data and document management, it lends itself to the secure storage and archiving of critical documents as well as to integration into existing financial control and documentation systems.
Providing full control over access and usage rights also ensures the best-protected storage of highly sensitive documents and communications. Just think of board communications for a moment.
Virtual data rooms are also notably more efficient and more profitable wherever it is necessary to oversee and monitor highly sophisticated business processes compared to physical data rooms. Financial control and accounting are just two examples of this, as they need a vast number of confidential documents and folders that are difficult to manage to be processed when comparing this to a physical paper-based solution.
A virtual data room is also suited for managing certain types of document portfolios – in real estate, for example – while making them available to customers in a way that is both convenient, easy, and secure.
The virtual data room for due diligence
Virtual data rooms are frequently used during due diligence processes or when companies are sold or merged. Usually, this requires the preparation and collection of numerous deal documents and records as part of the due diligence process. A virtual data room allows you to share sensitive documents with potential buyers and their experts for diligent examination, independent of their location and in a state-of-the-art manner.
Test docurex® simply and without obligation
Do you want to find out more? Test the docurex® virtual data room free without obligation. We would be happy to enable your test access immediately. Confidential and personal to you.