Complete Guide to Online Data Rooms: What They Are, How They Work, and How They Can Help You Out

A virtual data room is a SaaS-type service that helps different groups of users manage large amounts of information. Here you can not only store and process data but also carry out important transactions or arrange board meetings. Therefore, we can say that this is a universal tool that can be useful for both large and small businesses.

SaaS is the main mechanism of VDR operation

All virtual data rooms are SaaS – software as a service. SaaS is a cloud technology that allows you to use software online without installing it on your computer.

SaaS is like renting a house. You rent an apartment with furniture, appliances, and even utensils for any period. Then, you live there, and its owner is engaged in maintenance and repair.

Most SaaS platforms, along with access to software, provide data storage services (projects, information, letters). But there are services where projects are not saved. Work is organized according to the principle: worked – downloaded – left.

Virtual data room rates

Virtual Data Rooms provide subscription services. Typically, these providers offer different rates, the cost of which increases with the number of tools available and the size of the cloud storage.

On many platforms, you can collect your tariff as in the constructor and pay only for the services you use. Other services offer several formed tariffs for different tasks and requests.

Conveniently, you don’t have to pay for all the service features simultaneously. Needs have changed – change the tariff.

Advantages of VDR

Cloud technologies are convenient to use, which is not the only plus of such services. The strengths of virtual data rooms are:

  • Low price. Subscribing to software costs much less than purchasing a license.
  • Ability to work together. In many services, several performers can work on the same project simultaneously.
  • Low probability of data loss due to technical problems. It’s not scary if the computer freezes during work, the lights are turned off, or you forgot to save. In SaaS, data is stored immediately as it is entered.
  • Availability of the account from different devices. You can start doing something in the office, and then go to a meeting by taxi and continue working from your phone.
  • Regular updates. A team of specialists constantly updates cloud services without any effort from users.
  • Reducing the load on gadgets and user equipment. No need to use memory to install many different programs – just a browser. There is also no need to buy expensive, powerful equipment – the entire load falls on the service provider’s servers.

VDRs can be useful to any business whose work involves processing large amounts of data. Even if your company employs up to 10 people, you can choose an inexpensive and convenient data room.