A virtual dataroom for business is an online repository that offers a secure environment for sharing confidential files beyond the firewall of the company. It is used in a myriad of projects including M&As as well as due diligence, and project management.
The best VDR providers come with a variety of security features to prevent hackers from getting access to sensitive documents. Some of these include granular permissions that permit administrators to hide files and folders from specific users, NDA pop-ups that automatically display to anyone who downloads documents, and activity logs which record all interactions in the VDR. Other security features include a custom dashboard and an SSL secure connection.
It is also crucial to think about the way a VDR provider handles the documents its customers upload to the platform. Some vendors offer multiple tools to manage the data, such as multilingual search (about 16 languages), OCR, file preview, and smart AI categories. This makes it easier for both large and small enterprises to work with the information they require.
A virtual data room’s pricing policy is another aspect to take into account. Some providers charge monthly flat charges, while others offer different plans based on the amount of pages and storage size, as well as per-user fees. A company that offers a free trial is always an option.