Features of Online Data Room Software to Run a Business
To many outsiders, VDRs (virtual data rooms) are nothing more than simple document data spaces for use by enterprises, governments, and other formal bodies. Even while data storage is an integral part of most data room solutions, virtual data rooms (VDRs) offer so much more than simple storage repositories.
A contemporary virtual data room serves as a safe online meeting place, deal data facility, and conference room all in one. Virtual data rooms are now among the most robust and advanced types of commercial software available. Data rooms provide a variety of useful capabilities that you may not be aware of, including data security, document management, collaboration, and deal-making.
Read on if you wish to explore untold features of virtual data room software.
Features of Online Data Room Software to Run a Business
Top virtual data room features in 2022
Digital data room features are classified into multiple categories; here are some of them.
- Communicating in private. Users of the data room have the ability to communicate with one another in secret. Text, photos, and video or audio notes can all be provided as files. From end to end, all communications between you and the server are encrypted.
- Conversation amongst a bunch of people. By sharing a message or asking a question in the data room, any user can start a conversation. Participants can contribute by giving and sharing feedback. When trying to come up with new sessions, a group discussion is quite helpful.
- The use of online polls. Voting in online polls is a fantastic way to gauge public sentiment. Users can participate part in a poll set by a member and then record their responses. Voting on anything can help decide whether or not polls favour the notion or proposition under vote.
- Live-time question and answer sessions. Questions from interested parties can be addressed immediately during live Q&A sessions. In the event that a user submits a proposal, for instance, other users might pose sessions in live time.
- The ability to communicate visually and aurally through a video or audio call. Users of a virtual data room have the option of using online conferencing capabilities to discuss time-sensitive business matters. Audio and video conferences can be held with the help of digital data room software. The maximum number of users in a virtual data room meeting varies from service to service.
2. Electronic data room accessibility features
- Multiple devices accessibility. Virtual data rooms can be accessed from desktops, laptops, mobile phones, and tablets, as well as other common devices.
- Support for multiple operating systems. Most of the well-known data rooms support with different operating systems, such as Windows, Linux, Mac, iOS, Android, and Blackberry.
- Multi-language support. Modern virtual data room providers have made it easier to communicate across languages. Modern data room services support many languages, such as French, German, Chinese, English, etc.
- Mobile apps and a user interface made just for them. Mobile phones are the most popular electronic device among people today. Because of this, service providers make apps for mobile devices that are easy to use.
- There are no add-ons needed. Good virtual data rooms are full business software that don’t need any extra add-ons.
- Integration of apps from other sources. You can also add third-party apps like Slack, Zoom, Microsoft products (PowerPoint, Word, and Excel), etc. to your virtual data room. But putting in third-party apps could make your VDR less secure.
- Website with a brand. You can get your own website that you can change to fit the needs of your business.
3. Document management and security features
Document access control. Administrators can establish the roles, responsibilities, and authorities of users in a virtual data room. The administration can restrict user access to particular files, documents, pages, or areas of the VDR. Administration and users can also restrict document downloading, editing, and printing. Document intelligence capabilities.
- Bulk uploads. As virtual data rooms are time-saving technologies, several files can be uploaded simultaneously.
- Drag-n-drop. Instead of searching for a file in directories, you may just drag and drop the file to easily upload it to the data room programme.
Multi-format file support. You can upload audio, video, photos, and documents in a variety of file formats, including PDF, JPEG, PNG, and Word file.
- Secure document viewer. With virtual data rooms, no additional document viewing software is required. Some data rooms convert any document format to PDF for your convenience, whilst VDRs feature built-in document viewers.
- “Fence view” mode. The Fence View mode prevents screen recording, scanning, photographing, and screenshots, so ensuring the highest level of document protection.
- Digital watermarks. Digital watermarks are an excellent tool for tracing any modifications made to a file or document. It allows you to track who modified what and when, thus preventing copyright violations.
- 256-bit AES SSL encryption. Modern high-end virtual data rooms employ 256-bit encryption (the highest standard data encryption) that provides protection during data sharing and storage.Learn about encrypted filesharing at globalscape.com
- Virus detection. The most recent anti-virus software protects against harmful files in data rooms. When uploaded to the VDR, every file is examined, and corrupted files are removed instantly.
- Self-destructing documents. Document access can be revoked at any time with short notice by the data room administrator or file creator. Once access is revoked, the document is erased from the device automatically.
Virtual data room security features
- Authorization in stages. When logging in from a new device, users must go through additional verification processes. This step ensures that a device or a user’s information is not compromised.
- Verification in two steps. Two-step verification functions similarly to an entry checkpoint. Users are required to log in using their passwords and temporary generated codes (given to their email addresses or mobile numbers).
- Non-disclosure contracts (NDAs). When working with outside parties or letting a new user access the data room, it is common practise to have them sign a non-disclosure agreement (NDA). Legal action may be sued against a user who breaches an NDA for failure to comply with the documents and conditions specified therein. Virtual data rooms incorporate NDA templates (customizable).