You’re familiar with how artificial intelligence and technology can transform the future. So, when you see a headline like “how virtual data rooms (VDRs) are transforming the future,” you shake your head and believe it’s a ploy to get you to either 1) Use our product (which just so happens to be a virtual data room) or 2) Share this article. Good news! It’s not a ploy because you can do either right now {click to tweet!}. But we also want you to 3) Learn. Knowledge-sharing is not only fun but it’s built into our culture here at CapLinked. Here’s how virtual data rooms are transforming the future:
1. Hard copies are over.
In the wise (scribbled) words of Fred Armisen, hard copies are over.
While your transactions may be complicated and sensitive, the physical document rooms that many law firms and financial companies use are over. Virtual data rooms (VDRs) are hot and they’re the best way to preserve your important documents. VDRs are the future.
We live in a world where it’s easier to breathe on the glass and write what you wish than remember where you put that hard copy. When you use a modern and intuitive virtual data room, your information is automagically stored so you can focus on the important things in life (like watching the latest Portlandia episode (finalizing that business deal).
You’re free to use any computer, browser or mobile device to access your files, which means less time to worry about where your files are kept and more time closing deals. The future of data rooms is simple: VDRs ARE the future. It won’t be long before paper-based, brick-and-mortar data rooms are relics of the past.
2. Technology allows for more knowledge-sharing
Virtual data rooms are the Spotify of finance for many reasons but mostly it’s because VDR’s exist in the cloud (like all of the best music today). According to Rob Koplowitz, vice president and principal analyst for Forrester Research, of Cambridge, Massachusetts:
“The space around sharing content externally is being pushed by the nature of our work today across organizations, and pushed by the cloud, which is the natural place where content can be shared.”
When everyone (and their mom) is walking around with a smartphone in their pocket, knowledge hoarding is passé. The future of virtual data rooms is sitting in your back pocket even as we speak, keeping track of your M&A just as easily as it’s keeping track of your playlists and your Twitter feed.
The more you know about what’s happening with your merger and acquisition, the smarter you will appear to your colleagues and clients. And that’s all that matters because your mom already thinks you’re a genius!
When you share your knowledge (and digital files) through the cloud, you create momentum for your business. But you’ll need to let go of that voice that tells you that the more expensive tools are safer or more reliable. We get it: change is sometimes hard. But the technology today allows for more security at a fraction of the cost. Online document sharing doesn’t have to be expensive or unsafe. Data rooms of the future offer every benefit of an old-school data room, with all the modern conveniences that Silicon Valley could ever offer.
Your mom may not know what this is, but the tools that come with our Virtual Data Rooms have watermarking, print-blocking, download prevention, non-disclosure agreements, and proprietary digital rights management. How’s that for smart?
For more on emerging trends, like how Caplinked is using the future of VDRs and blockchain technology to make data transactions even more secure, stick around on our blog!
3. VDRs improve discovery and workflow efficiency
You’re fanatical about the activity reports of your clients. Knowing when they view a document and how much time they’ve spent looking at your reports is your secret weapon. When your team can easily browse and navigate this information, you enhance workflow efficiency and become a master of productivity.
You can also become a master of control: The CapLinked platform allows you to set different levels of control so that you can track which parties view which documents.
Bonus: In the era of annoying sales culture, we pride ourselves on sharing information that’s fun and creating products that work. Whether you’re just here for the fun information or you’re considering a Virtual Data Room, the options are endless when you focus on the big picture of transforming the future.
You can either get high-touch service with a trained expert who walks you through a demo. Or you can sign up for a free 14-day trial today without talking to a sales rep (we won’t be offended!)
The option (and the future) is yours. How will you use it?
