Virtual Data Room Providers
The best virtual data room providers are secure and easy to use which allows users to share and look over documents. They can also give granular access to users, set dates for access expiration, and restrict sharing by IP address or on specific devices. Some VDRs also allow users to add watermarks to their documents and track downloads in order to manage digital rights. These features offer guests protection from disclosure of documents.
VDRs are utilized for a variety of business transactions and are ideal for businesses that want to secure transfer confidential documents outside of their firewalls. Legal firms can utilize VDRs to communicate with clients, third parties and colleagues during litigation, due diligence or other corporate events. Private equity and hedge fund utilize VDRs to communicate with auditors, limited partners and portfolio companies. Pharma and biotech firms also rely on virtual data rooms to share intellectual property, clinical trial data, and other confidential information to third parties.
A good VDR will also include a variety of useful features that aid in managing and control documents. Look for a user friendly interface that is compatible with all major platforms, including iOS, Android and Windows. It should also allow for quick uploading or downloading of large files. Furthermore, certain vendors allow users to select between a per-document or storage-based pricing policy.
Be sure to consider whether a vendor offers 24/7 support to address any questions or concerns that your team or external stakeholders might have regarding the platform. Transactions and crucial business processes don’t happen during an 8-to-5 workday Therefore, it’s essential that your VDR provider is available throughout the day.