The capital market has witnessed an unexpected upsurge after the pandemic and the financial experts say that the trend would continue. Many startups secured their place in the covered uniform club with successful IPOs and eventually billion-dollar valuation.
The Initial Public Offering is a complex, cumbersome process that requires both your money and time. The process takes place under the supervision of accountants, auditors, lawyers and many more officials who are either employees of the company or are hired or outsourced. More importantly, it requires a lot of information and data of the company that may or may not be confidential. Thus, it makes it important for the firm to hold proper accountability among employees and ensure the safe transaction of documents and all the files.
Accountability and rules regarding the non-disclosure of data and documents are easier to establish but what is intricate is ensuring the safety of the transactions. In a world, where the competition is throat-slitting and a piece of information can save or down a company, the security of data plays a significant role in the continuity of the business.
How is VDR your solution?
Virtual Data Room, since its onset has revolutionised the paradigm of work. They have been an essential part of facilitating transactions in almost every sector now. From mergers and acquisitions to fundraising, restructuring and the surging market of Initial Public Offering. There has been an increased dependence of companies and users on technology for the sake of the convenience it provides in each task and activity. The online data rooms have succeeded in gaining the trust of the people; which is evident in its share in the market. The virtual data room market is expected to grow at a compound annual growth rate of about 14% from 2020 to 2027. This is because as we progress in business, there is hardly any scope left for human errors and the demand for a highly secured solution is increasing tremendously. The VDR helps the legal advisors to manage the different phases of insolvencies for their clients including bankruptcy, composition with creditors and receivership. The various applications of the software helped it turn a great turnover even in the year 2020.
It should be noted that although the use of VDR and cloud computing seem to have got the limelight amidst the pandemic because of the “new normal” ; one can not deny that 2020 only accelerated the growth. Cloud computing and data rooms were always a part of the giants of businesses and even the startups.
But what is it that is making VDR a “must-have”?
The various advantages provided by an online data room, gives an edge to the company over its fellow competitors.
Let’s see what those benefits are!!
# Privacy and Security
With increasing incidents of data breaches over the years, the confidentiality of data has become a major concern not only for the users but also for the companies and the service providers.
The cloud service providers like Dcirrus have given great emphasis on the encryption of data stored. It means that your data will be converted into codes and signs that will not be understandable to the ones who do not have the key to those codes.
The security of the cloud has been used by most of the companies we encounter today. Data and its security are very crucial in spheres like healthcare where the stored personal information if leaked, can be misused to a huge extent.
# Accessibility: Your Data Just A Click Away
Data accessibility was a major concern for the enterprises especially during the lockdown where the travel restrictions hindered the workflow. There are certain documents which are required at hand and delays cannot be afforded. There are certain files which are necessary to crack the deals. During the online meetings, the files that were uploaded on the cloud were easily accessible to the employees and the clients ( if authorised) at any time from anywhere. These helped them if any document was not available to them and did not construct the meeting.
# Unlimited storage space
With the growth of an organisation, and its effort to survive in the competitive market, the workload increases. And with this, rises the data, the paperwork of an enterprise. The enormous workload not only becomes difficult to manage but also difficult to store. However, companies like Dcirrus, provide unlimited storage space that further facilitates better management of data and streamlined workflow.
# Your Scale And Nature is no more a criterion
Cloud is a technology that is not restricted to the scale or nature of your business. You can benefit from it no matter, if you are a startup or an already well-established business. The startups have gained heavily from the reduced cost of business as a result of the adoption of this technology. It relieved the businesses of the cost involved in setting up on-premise servers, purchasing heavy IT equipment, employing more people to handle data and manage it and many more. These expenses can be avoided and the businesses are left with surplus capital which can be invested in other revenue-generating activities.
Even established companies can have a better workflow. This also gives them better chances of innovation as the IT department can then invest their time and efforts in better ideas. Hence, with the cloud, you choose innovation and affordability together.
Still confused about VDR? 🤔
Consult Dcirrus’ experts, available 24*7.
What is Dcirrus?
Dcirrus is the one-stop solution to the problems that the corporates are facing or perhaps face in the future with the continuous shift in the business environment. One thing that the pandemic has taught us is to be prepared for the future and to be responsive to it. The preparation begins NOW.
Dcirrus, thus, helps the corporates prepare for the future while considering their needs and budget.
With Dcirrus you don’t only get guaranteed security and customised plans according to your needs, but also get amazing features so that your data is well managed and organised. 🎯
•Security with 256- bit data encryption at three levels: in use, during transit and at rest.
• Auto file sync and backup so that your files are always safe and can be easily restored.
• Dynamic Watermark Feature
• Eco friendly, so that you don’t only help your company but also your community.
•Case Management feature for lawyers to handle their case files easily.
•Easy monitoring by restricting the reader to only view the files when transferred, preventing them from copying the file on their system. You can also delete the files from their system after a view.
•Nominal Rates for pay as you need service customised to businesses of all sorts
•Degree Verification feature for universities and employers for a quick background check.
•Productivity tools like smart search, drag-drop upload for improving productivity and saving a lot of time.
Dcirrus= ⬆ oductivity = ⬆efficiency = ⬆Profits
Save your ⏳TIME and EFFORTS⏳ with⚡ DCIRRUS⚡