A virtual data room for businesses is an online repository that provides secure sharing of sensitive documents outside the firewall of the corporate. It is utilized for a wide range of projects, such as M&A due diligence and project management.
The best VDR providers offer a variety of security features that block hackers from accessing sensitive documents. They include granular permissions which permit administrators to hide specific documents and folders from the users, NDA popups, which are automatically displayed to anyone downloading documents and activity logging which tracks every interaction that occurs within the VDR. Other security features include two-factor authentication, a customized dashboard and a secure SSL connection.
It is also essential to study how a VDR provider handles the documentation its customers upload onto the platform. Some vendors provide a variety of tools to manage the information. These include multilingual search (about sixteen languages), OCR and file preview. This can make it easy for both large and small companies to access and manage the data they need.
A virtual data room’s pricing policy is another factor to consider. Some providers charge monthly flat fees while others offer different packages based on the number of pages, storage size and per-user fees. A trial period of no cost is always a good thing when choosing a vendor.