What Are the Features of a Virtual Data Room?

A virtual data room is a device that provides secure, professional document storage and management. It is often employed in M&A deals, but also useful in other types of projects, such as strategic partnerships, raising funds, or simply working with sensitive documents, these tools can help businesses protect confidential information. They offer a more organized and efficient way to share documents with other parties, without the requirement for physical meetings or email exchanges.

It is essential to select the VDR with physical security features, such as fire protection, data redundancy and backups. Find a VDR which offers two-factor verification and detailed audit logs. The latter maintains a thorough report of all actions within the platform. This includes who is who, when and where each document has been seen. It should also allow administrators to apply dynamic watermarks to files and set time limitations for viewer access.

Collaboration services are another important characteristic of virtual data rooms. They permit teams to work on sensitive documents together from any place with an internet connection. Many modern providers offer a mobile-optimized interface and content optimized for iOS, Android and Blackberry devices. They also have annotations for documents and a Q&A feature to facilitate collaboration. To ensure that only authorized users can access confidential information the software has screen capture blockers that prevents the use third-party software and plugins.

Finally, look for a service that provides 24-7 customer support, including in-app chat and email, phone and multilingual assistance. The top providers provide product videos as well as an online help center.


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