Virtual Data Room Providers
The best virtual data rooms are easy to use and secure, offering users the ability to share and read documents. They can also set granular permissions, set the date for expiration of access, and restrict sharing based on IP address or a specific device. Certain VDRs also permit users to add watermarks and track downloads in order to manage digital rights. These features protect users from document disclosure.
VDRs are utilized for a variety of business transactions and are perfect for businesses who need to securely share confidential documentation outside of their firewalls. Legal firms can utilize VDRs for collaboration with clients, third-parties as well as colleagues in due diligence, litigation or other corporate events. Private equity and hedge fund companies often utilize a VDR in order to communicate with auditors, limited partners and portfolio companies. Virtual data rooms are used by biotech and pharmaceutical firms to share intellectual property, clinical trials, and other private data with third parties.
A quality VDR will also include various useful features that make it easier to manage and control documents. Choose a user-friendly UI that is compatible with all major platforms including iOS, Android, Windows and Mac OS, and that lets you upload and downloading of large documents. Additionally, select vendors allow users to select between a per-document or storage-based pricing policy.
Take note of whether the vendor offers 24/7 support for any questions or concerns that your team or other stakeholders may have about the platform. It’s crucial to find a VDR provider that is able to respond quickly because transactions and essential business processes rarely happen between 9-5.
