The Top 3 Reasons Why You Need a Virtual Data Room
The most natural setting for complex transactions and sensitive information may seem like a stuffy boardroom. But it’s 2017 and business has shifted to the modern ways of the web. While you may not be able to convince that colleague who’s stuck in the 70s to do business differently, you can still save yourself. So, take a big breath of that collaborative workspace air, as you read more about the top reasons why you need a virtual data room:
1. Business is About Relationships
You’re business savvy, so this shouldn’t be a shocker: To build solid relationships, you need trust and confidence in the tools that you use. Virtual data rooms have replaced the in-person document rooms and with this, comes the need for more trust. When you’re storing and sharing lots of documents in the cloud, tensions often rise, and conversations can get heated. When you can’t see the person on the other side of the deal, situations can escalate quickly.
We like to think that we diffuse these scenarios because we make work easy. We like to call our Virtual Data Room: Very Doable Relationships. Making sure the right people see the right documents at the right time is crucial to your business transaction, and we make this very doable. Whether you’re trying to keep files secure, organized, and easily accessible or you merely want to communicate while conducting due diligence, your relationships throughout the process are priceless.
2. Security and Confidentiality is Key
In the middle of complex deals, you find yourself in a bit of a Catch 22: You want to work fast, but you also want to make sure that everything you’re sharing is secure. In the past, you may have just sent an email that was confidential. You knew better, but you also wanted to communicate quickly and easily. In today’s digital age, the importance of protecting your information is fundamental.
The good news is that online security and efficiency are not mutually exclusive. Technology and flexibility can seamlessly merge to allow collaboration and productivity. All you have to do is enter your virtual data room to share major files. Our platform has a fully functioning API that will enable you to quickly and easily share, protect, and track your business’s sensitive data. If you’re considering a free option for sharing files, take a minute to understand the contrast between VDRs and Dropbox.
3. Streamlined Workflow
Your business transaction is already complicated enough, and you’re not looking for more chaos within your process. You hear the word “workflow” thrown around a lot, but what you’re really looking for is a streamline for your process. It’s not that difficult when you can seamlessly work with third party and proprietary applications.
It’s essential to have a process for your productivity, but you also want to leave room for flexibility. Flexibility is especially important for startups, where your operations could rapidly grow and shift. Our data rooms allow you to set different levels of control so that you can track which parties view which documents. Document sharing doesn’t have to be complicated.
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Interested in virtual data rooms? Find out how Caplinked and TransitNet have combined VDR and blockchain technology to make document sharing even more secure.
