In this digital age, there are many options to store your important files. Cloud storage and virtual datarooms are two options that are frequently used, but they have different capabilities.
The choice between a VDR and a cloud storage option is a crucial decision that will impact the security of your data. VDRs can be used to manage files and information sharing during critical corporate processes like due diligence or M&A. Cloud storage is focused on providing a variety of online storage options for files. Both have advantages however, it’s crucial to know the differences between them to make an informed choice that is in line with your business’s needs.
VDRs have advanced physical and online security features that are typically not available in cloud storage software. These features include bank-grade encryption, compliance certifications and granular permissions settings. They also allow users to keep track of their activity in real-time and even have documents electronically destroyed if they’re downloaded onto a device that has been compromised.
Picking to use a VDR for your company is a cheaper solution than purchasing and installing hardware in a dedicated data center. Moreover, most providers offer multiple subscription options to accommodate your requirements. Additionally, most vendors permit users to upgrade their storage for a monthly cost in the event that their free space runs out. The freemium model utilized by the majority of online storage companies allows users to have no control over the location of their data, and leaves it up to the provider to monitor security.