A virtual data room (VDR) is an online secure storage solution that allows companies to manage, store and share confidential documents with various parties. It is typically used for M&A (mergers and acquisitions) due diligence, but the VDR can be utilized to manage any business transaction or undertaking that involves sensitive information.
The top virtual data rooms provide an easy, intuitive interface to facilitate the simple handling of large quantities of files. They support the efficient handling of many thorough comparison of digital storage for growth formats of files, including text, images and video and have granular permission settings, enabling administrators to control who can view, print or download files. They also have tools for redaction and watermarking to safeguard privacy and intellectual property.
Be aware of how adaptable the virtual data room can be to different operating systems and devices when choosing one. It must be compatible with iOS and Android without the need for additional plugins. It should also permit bulk uploads using drag-and-drop. It is also worthwhile looking for templates for folders to ensure a well-organized filing structure. For instance, the establishment of a folder entitled “Finance” with subfolders for each financial statement could assist users in navigating the data room quickly. It is also recommended to utilize a file type recommendation system to upload and store files. This will save time and effort by making it possible for users to upload files directly into correct folders. Additionally, a system which suggests file names that have underscores between words is also beneficial as it makes it easier to search for and retrieve files using keywords.