What is a Virtual Data Room?

A virtual dataroom (VDR) can be used to keep and share confidential documents online. It’s a great instrument to support complicated processes that require the disclosure to third-party parties of confidential information beyond the firewall of the company.

VDRs are typically used during M&A, but they are a useful tool in any scenario where you have to share large volumes of private information with external stakeholders. VDRs allow you to maintain the confidentiality of your contents and protect against leaks when your documents are viewed by multiple parties at the same time.

When selecting a VDR provider, look for one with a track record of offering secure document sharing solutions to clients in your industry. Find out if they offer an opportunity to trial the system that allows you to test the system with your potential partners prior to signing a service contract.

Look for a VDR that can support a broad range of file types but also allows you to customize permission settings, security measures as well as watermarking. You should be able to deactivate remote access for digital rights management.

The majority of VDR providers offer a Q&A area where customers can ask questions and receive prompt answers from support professionals. Some providers also offer a dedicated team of experts for specific industries. They will be able to comprehend the complexities of your company and will be able to assist you to maximize the value of your VDR system. It is important to select a provider that offers round-the-clock support and can be reached via a variety of channels, such as chat and phone.