Many aspects of the business change very quickly, so it is extremely important to use cloud-based applications like virtual data room that can quickly scale based on your needs.
Virtual technologies in business processes
In the era of the Internet, the number of cyberattacks has increased, so data protection has become one of the most important aspects of our work. Both private and public cloud solutions have built-in protections and meet high-security standards.
Today, when the market is more competitive than ever, scalable and mobile applications are of particular value, providing quick and easy access to information. Modern companies are increasingly thinking about and launching the digital transformation process during mergers and acquisitions. This raises the need for a single platform to consolidate and manage all data.
Virtual Data Room is necessary in case of due diligence and in all those occasions in which two or more companies and organizations must exchange data, information, and documents with each other in a confidential and secure manner. Data rooms, for example, play a fundamental role in the acquisition and sale of a company (or a business unit), in those of mergers between two entities, or in other types of agreements that require careful analysis. of all the data available to identify the possible risks and problems connected to them.
This, however, is only one of the many uses that a “data room” can have today. A company with offices around the world, for example, may decide to use a VDR to make confidential documents available to all employees in an absolutely secure manner.
Information repositories are filled in several stages:
1) extraction (extract) – import data into storage from information subsystems, production departments, and other sources, as well as data from different external sources, where they may have different names, attributes, units, and methods of coding;
2) transformation – consolidation, aggregation of data (ie, total or other indicators are calculated), dividing them into factions, adjustment and transformation into appropriate formats, “cleansing” of individual characteristics (ie reduction to a single form);
3) loading into storage in the form of “historical layers”, each of which belongs to a specific period of time
What are the benefits of a Virtual Data Room?
Data Room solutions have the following advantages:
- The ability to significantly reduce IT infrastructure costs and respond flexibly to changing computing needs. The user of cloud services pays only for the actually consumed services (sometimes – also for the resources reserved for him).
- High reliability of data storage: for modern cloud service providers, a mandatory requirement is at least three-fold duplication of all stored user data in different places. The likelihood of losing them is much lower than when stored on a home PC or on an office network.
- Fast technical support and consulting from your cloud provider.
- Fast and cheap deployment. It is one thing to build your own IT infrastructure of an enterprise, buy, install and configure equipment and software, hire or train specialists. It is quite another to simply connect to an already existing and configured infrastructure.
- When using cloud computing, consumer costs are transformed from the capital to operating costs (this is how spending on paying for the services of cloud providers qualifies). It’s like having water in a tap: it’s easier to connect to a public water supply than to drill a well in the yard and install a pump yourself.
- The use of cloud technologies allows almost any company to easily and quickly transfer employees, for example, from office work to remote work. Which has become a great advantage in the context of the coronavirus crisis.