Is the virtual data room on
For those following this market or considering these kinds of services, you’ve probably heard many firms are saying that the VDR’s best days are in the rearview mirror. They’re saying “Content Management Solutions” or “Material Information Platforms” or any other collection of buzzwords are the future, and they’re the ones to provide it. The reality, however, is much different. In fact, the businesses advancing this myth are simply engaged in a rebranding exercise. Virtual data rooms aren’t going anywhere, they’re just getting better.
According to industry experts, virtual data rooms are actually in the midst of
What differentiates virtual data rooms
With the advent of the virtual data room, which leveraged the internet and the cloud, a more convenient, more secure and more efficient (not to mention more
When the virtual data room was introduced to the market it was a game-changer. However, over the last couple of years, many VDR providers chose to invest their money in wining and dining their clients instead of updating their technology. Consequently, many legacy VDR providers have started to lag behind other enterprise technology solutions. Now the market is feeling the heat, especially from consumer-file sharing applications like Box and Dropbox. While these platforms lack the security features inherent to VDRs and necessary for the enterprise, Users, especially millennials who now dominate the workforce, expect and demand the same speed, convenience, and efficiency these applications provide.
Every VDR provider has taken
New platforms and technology: With evolving technology, VDR providers are looking to the future when it comes to enhancing the user experience. Security and functionality – with a modern user interface as well as advanced reporting and analytics capabilities – deliver the speed and efficiency users are looking for.
APIs. The modern VDR isn’t just about document review and due diligence. It’s become an end-to-end deal management platform. SmartRoom offers seamless integration with leading software programs, enabling clients to conduct all their business within a safe digital environment. This enables greater efficiency and security for the entire deal process.
Collaboration: Today’s VDR users want much more than just a secure means of sharing documents. They want the ability to easily collaborate on documents. SmartRoom provides collaboration features like
The virtual data room continues to evolve to meet market demands
For more information about a SmartRoom, please visit smartroom.com.