Virtual Data Room is a unique business software product that helps reduce the risk of data breaches and makes it easy for dealmakers to share private files across multiple platforms and devices. It is designed to be used in M&A and litigation support, due diligence and other complex processes that require secure document sharing. Its security features, such as multi-factor identification as well as session timeouts and locations restrictions, granular permissions for users and a secure file viewer with view-only mode and watermarking, as well as encrypted downloads, ensure the security of sensitive information and stop leaks from unauthorized sources.
VDRs also have advanced collaboration tools, such as document annotations, Q&A sections as well as the ability to assign tasks that speed up the contract-making process significantly. They’re typically more expensive than cloud storage solutions however the cost is justified by their high-security and expert support.
When selecting a VDR ensure that it has a dedicated section on its site where you can read testimonials and customer stories. Also, look for a trial offer, extensive options for deployment, and a customizable interface. Find out if the vendor charges a flat price per month or provides different pricing options, including per page, per storage, and/or by user. Take note of the help center provided by the vendor, which may include videos and articles and phone and in-app support. iDeals is an excellent VDR that has a simple and a comprehensive interface that lets you manage your data easily. Its reporting feature is particularly useful and useful for data analysis.