Before virtual data rooms, professionals had to share confidential information through physical printed documents. This method of document sharing was often inefficient, slow, and posed a threat to security and confidentiality. Today, virtual data rooms allow you to share documents virtually, with bank-grade security and organizational and user controls. Virtual data room providers like ShareVault can help you keep your confidential documents safe during business deals, research, or other collaborative processes.
The Origin of Virtual Data Rooms
Virtual data rooms (VDRs) have been around since the late 1990s. They were initially developed as a secure online platform for storing and sharing sensitive business documents during mergers and acquisitions (M&A) transactions. The need for a secure and efficient way to exchange confidential information between multiple parties involved in M&A deals led to the emergence of virtual data rooms. Before this point, businesses had to convene in physical data rooms which all stakeholders had to travel to to share and view documents. There was often a risk of theft, damage, and unapproved viewers seeing the documents. It was also less convenient and took more time.
How Technology Improved Document Sharing
Technology led to the invention of virtual data rooms, which drastically improved document sharing. Some of the ways that virtual data rooms improved document sharing include:
More Secure
ShareVault virtual data rooms are significantly more secure than physical document sharing. Our data rooms are ISO 27001:2013 certified. This means we meet all the standards and qualifications to protect your information against unauthorized access or hackers. Our infrastructure partner also has the following certifications: SOC 1/2/3, ISO 90001 / 27001 / 27017 / 27018, PCI, DoD CC SRG IL2, FedRAMP Moderate, as well as HITRUST and HIPAA. These certifications show that respected third parties have verified the security of our software. You can learn more about our security certifications here.
Our virtual data rooms are not only protected from outside threats and hackers, they are also protected from unauthorized users, even when the document was shared by an authorized user. This adds a new level of security that many other virtual data rooms do not offer.
More Control
Virtual data rooms allow you to have more control of your confidential documents. ShareVault data rooms offer granular access controls, meaning you can assign different security policies by user, group, or folder. You can use our remote shredding feature to virtually shred a document from a user’s computer, even if it was downloaded. We also allow you to disable certain features like screenshotting, copying and pasting, saving, and printing. These features, along with our expiration dates, dynamic watermarking system, and secure printing, allow you to have control over all of your shared documents.
More Efficient
There are many ways that technology has made the document-sharing process more efficient. ShareVault’s hierarchal tagging system makes it easy to find the documents that you are looking for. If you have an organized document that you would like to add to the virtual data room, you can easily import it into ShareVault. You can add large files to your virtual data room by dragging and dropping, and our software makes it easy to download and print multiple files by allowing users to batch these tasks.
Virtual Data Room Providers Like ShareVault Can Improve Your Document Sharing Processes
Whether you are involved in due diligence, raising capital, restructuring, research, or another process that involves the sharing of confidential documents, ShareVault virtual data room providers have you covered. ShareVault can help keep your documents safe while you are conducting business, so you can focus on other things. Contact us to start your 7-day free trial today, or schedule a demo to see how it works.