There are a myriad of options in the age of digital data in terms of storage options for your valuable files. Cloud storage and virtual datarooms are two options that are commonly used, but they have different capabilities.
The security of your data will be affected by the choice you make between either a VDR or cloud storage. VDRs are designed to handle files and information during important corporate processes, such as due diligence and M&A, while cloud storages focus on delivering an array of cloud-based file storage options. Both are beneficial in their own right however it is essential to know the differences between the two to make an educated decision that is compatible with your company requirements.
VDRs offer advanced online and physical security features that are usually not available in cloud storage software. These features include bank grade encryption, compliance certificates and specific settings. They also let users keep track of their activity in real-time and even have documents remotely shred if they are downloaded onto a device that has been compromised.
VDRs offer a lower cost option than installing hardware in your own data center. Most providers offer multiple subscription plans to suit your business’s needs. Furthermore, most providers allow users to upgrade to more storage at a cost per month in the event that their free space runs out. However the freemium model of the majority of online storage services gives users no control over the location of their data and leaves the responsibility to ensure security on the part of the provider.
