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16/07/2019

A room crammed with paper records or Online Data Room?

There are many cases when your company has to share confidential information with colleagues. No matter what your objective is – mergers and acquisitions, organizing communications for the management board, appealing for backing to a foundation, developing a novel product or other stuff – online data rooms will assist in solving the issue in the most skilled and money-saving way. In any sector and for any business problem, it offers the satisfactory solution. several really easy to understand growth of broadband Internet access, the familiarization of possible parties in the transaction with documents was as follows:

1. The representative spared or leased one or more work places where folders with printed documents were brought, and wrote down the loss of profit from misusing of the premises.

2. A timetable of staying at the site and doing paperwork for future clients (bidders) was drawn up. In view of a great number of buyers, the time of the transaction increased also. If the buyers were from another city or country, their delegates went on a business trip to world cultural centers wasting time and money there. Actually, the virtual data room just solves the matter with time, expense and ease of access to data.

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What for and how can a Secure Virtual Data Roombe of service?

Basically in any conditions when an office should provide simultaneous access to confidential information to several persons:

– studying of corporate reporting;

– making a storage of files;

– making an audit;

– preparation initial public offering (IPO);

– mergers and acquisitions;

– search and providing information to investors;

– bankruptcy and reorganization;

– getting ready for acquiring licences for medical preparations or other progress of science.

A traditional data room is usually one or several rooms stuffed with printed materials with a understandable minute-by-minute visit schedule. The data rooms virtual data room comparison is an Internet website where the issue with concurrent access to files has been solved and this advantage has been presented to permitted users to deal with documents from anywhere. A reader can compare the costs of rent, maintaining premises and the physical movement of your partners around the city to holding virtual space ( including the cost of security).

Obviously, there are such solid instruments as e-mail, faxes, disks and data cards. But if you want tosend confidential information of large volume more often, the advantages of a virtual room are clear. This is the absence of restrictions on file size, encryption, and the ability to track document versions and express your opinion regarding particular/different documents instantly. But the main idea is 24/7, with the opportunity to access information saved in a virtual room from any place in the world where there is electricity and the Internet.

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