Virtual data rooms are online repositories and databases used in the storage and distribution of highly sensitive information. Virtual data rooms (VDRs), also called deal rooms, are heavily utilized by business entities during mergers and acquisitions, initial public offerings, private equity transactions, etc. to disclose and share sensitive documents.
A mobile virtual data room software enables this same access to secure documents by authorized users while maintaining flexibility. This is typically done through a dedicated web portal, native mobile application, or a security agent.
Mobile Virtual data rooms
The recent advances in mobile communication technology have enabled powerful mobile devices to enter the market. This has enabled businesses to develop and utilize secure and future-rich software applications. Mobile virtual data rooms have all the advantages of virtual data rooms but with fewer disadvantages. Mobile virtual rooms provide instant accessibility of information that enables real-time collaborations and communications between business stakeholders.
Modern mobile applications access cloud-based data, that is data not stored physically on the device. Mobile cloud integration eliminates the chance of data loss. Mobile applications also feature robust security technologies that authenticate users, preventing the highly sensitive data within mobile DVRs from falling into the wrong hands.
Virtual data rooms and white-label software
White label software is software that is provided unbranded to the client. It is sold under software as a Service (SaaS). White-label SaaS products are usually bundled with software support services not having the original developer firm’s name. White label mobile apps provide a businessperson with a refined and professional software product. White labeling will enable a company to essentially create its own custom mobile Virtual data room under the company’s name.
This comes complete with a deal room with your brand colors and under your company name on the App Store/Google Play. This provides a professional, branded, and secure native mobile application to your teams, clients and investors. Custom-built solutions will take more time to research, design, and develop, but delivery is within weeks among top SaaS providers.
How can a business person use a mobile data room?
In the last 10 years only, mobile app usage has exploded globally. It was estimated that by the end of 2020 there were a staggering 3.5 billion active smartphone users in the world, half the world’s population. The mobile phone has become essential in business.
Why would you choose to use mobile data room application solutions?
Impressions and brand visibility
Virtual data rooms provided by third parties provide no brand visibility for your business. This is where mobile apps come in. A mobile data room application will contain the brand images, colors, symbols, and trademarks that are identified with your business. Deliberate branding efforts will achieve deep brand experiences among clients and potential investors
Well-designed applications that provide a good user experience gain the trust and confidence of the user. This is especially important for highly sensitive data and transactions.
A mobile app will connect with your teams, clients and investors fast and easily, with messaging and communication features. Due to instant access and review of data across many platforms e.g. Desktop, Web, and third-party integrations.
Get a Virtual Data Room Today
Security is the biggest concern when it comes to deal rooms. Now with the use of Mobile data rooms open secure contract negotiation can be done within the data room itself. This way, negotiating parties can edit and even sign reached agreements in the deal room. The best apps provide an e-signature in the platform, this eliminates any third-party security risks.