What to Look For in Virtual Data Room Software

For businesses looking for an secure platform to share and read sensitive documents Virtual Data Room software is the ideal solution. The most popular use case is M&A due diligence, but it is also beneficial for those who are just considering an offer to purchase, because they can review new business partners’ proposals without the risk of their confidential information being leaked.

A reliable VDR is also useful for safeguarding confidential agreements, contracts and other documents between employees and clients. Those working in the life sciences and technology industries tend to be the heaviest users, but almost any company can benefit from having access to the virtual data room.

When you’re choosing when choosing a VDR there are certain characteristics to look for. These include drag-and-drop uploading and bulk-uploading, advanced tags and search filters optical character recognition (OCR) tools for full-text searching, automatic indexing of files as well as dynamic watermarks that mark which documents have been printed or viewed, as well as mobile apps that allow you to view documents on-the-go. Many vendors offer trial versions that let you to see how the software works and if it meets your requirements.

A high-quality customer service is also essential and so is compliance with security standards such as two-factor authentication, timed access expiration and IP-address-based restrictions on access. It’s always a plus if the vendor can help you customize your virtual data room with your own branding and the terms of service.