Queconomics – Choosing an investment data room must be done carefully because essential data security from the company and clients depends on it. If you choose the wrong one, there may be a data breach that will result in many losses.
In the past, the use of data rooms was still using physical rooms. However, with the development of technology, data rooms are now turning to virtual spaces. The use of this virtual room provides more advantages than physical space.
One of them is the ease of accessing data that can be done anytime and anywhere. This makes accessing data unlimited in time and place, which can make work more efficient.
Data management is also more secure because the virtual investment data room is equipped with top-level security that can ensure customer and company data safe. That way, every transaction can be done confidentially.
The utilization of VDR can minimize errors in transactions and reduce the possibility of transactions that are not following the plan. Today, VDR has become a safe place for meetings on the network for all parties involved in the transaction.
This secure online data repository simplifies collaboration between all parties by providing complete control during online procedures to verify the health of a company’s financial condition.
This virtual space has been modified to become an instrument that can facilitate all transactions and not just conduct due diligence on the company’s financial condition.
Choosing Investment Data Room According to Security Features
The most important thing about a data room is its security features because all company and client data is stored. Now many data rooms offer various document protection and confidentiality features. Some of its security features include:
Watermarks are automatically embedded in company or client documents so that they cannot be stolen and recognized as belonging to others.
Watermarks can contain the project name, download date, name, and even the IP address of the person who uploaded the document in the investment data room.
The limited view feature can limit users’ views, making it impossible for them to peek or screen-record/screenshot.
Document validity period
This security feature allows companies to revoke the right to access documents at any time, even after the user has downloaded the file. This feature helps prevent the unauthorized distribution of documents.
Another thing that cannot be forgotten is the availability of an antivirus in the investment data room. Viruses that spread on the internet can damage data or spread data widely. Therefore, an antivirus feature is needed to reduce the possibility of this happening.
User Interface in Data Room is Also Important
A simple user interface can make it easier for users to access data, so there is no need for complex learning. Now many vendors provide data space that can be customized according to the company’s website.
In addition, because the company will need a large amount of space, choosing a data room that provides a mass upload feature is highly recommended. Selecting a vendor that does not offer upload limits is better to make its work more manageable.
The drag and drop feature can also make it easier for users to upload data. With this feature, users don’t need to search into folders to make work more efficient.
Last but not least, integration with Microsoft Office is also highly recommended so that users can easily save the files they need without having to change the file extension.
In this digital world, data rooms are widespread for companies from the startup level to large companies. However, the selection of investment data room must be adjusted to the needs of the company and the features provided by the vendor.