Types of data rooms
- Virtual data room
- Physical data room (data center)
First, Virtual data room
- It is a website that has limited access and high level control. And to have access you must log in under supervision of vendor.
- It is used by companies for secure and share important data. During acquisition and merging process and big deals operations.
- The stored document and data is high value that also has big privacy to store it.
Virtual data room usage:-
- The reason for these companies to store document is recalling at any time for financial and legal entity and authorities.
- For replacing once ubiquitous physical rooms. It also costly and inconvenient and become outdated concept so it replaced with virtual rooms.
- It can maximize the deal value with making access for many bidders within short time.
- Processing tools is quite quick and simpler.
- Security; Data used is more secured with digits and the documents not allowed to be copied.
- Efficiency; on paper during process.
- Compliance; by keeping definite track of individuals have done coordination.
- A tool to make coordination to all possible communication
- Deal Intelligence; to understand all bidders’
- Cannot be reachable for criminal cases.
- For any question and answer you entered a chat room that give you quickly answer but not verbal clues.