The Differences Between Data Rooms and Cloud Storage

The choice between a virtual dataroom and cloud storage is dependent on the type of business documents or procedures that you’ll be handling. In some instances the virtual data room offers greater security than the standard cloud technology. However, there are also times when a simple cloud storage option might be more appropriate. It is important to study the differences between these two types of solutions in order to determine which one is the most suitable for your business.

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In a VDR it is possible to organize documents into folders with specific permission profiles according to job title and. Users will be able to access files they need to perform their duties, thus reducing the risk that sensitive information is available to unintentional third parties. This is a key advantage that data rooms offer over cloud storage platforms such as Dropbox and Google Drive.

VDRs assist in the due diligence process of M&A deals and other financial transactions by allowing you to exchange confidential documentation with the parties in a secure environment. This allows you to avoid information leaks, and also close deals faster. Advanced security features such as watermarking (which could include a recipient’s email address) and screenshot prevention are available in a majority of data rooms to help prevent misuse of confidential documents.

Some data rooms, such as FirmRoom or iDeals offer extensive analytics, which go beyond simple usage statistics. They allow you to track user activity at a more detailed level, including which documents are being viewed and how long they have been seen for. These in-depth insights can be helpful to determine the most important content, and to plan follow-up meetings with stakeholders.