The best virtual data rooms are simple to use and secure, allowing users to share and examine documents. They can also enable granular permission settings, set dates for expiration of access, and restrict sharing to IP addresses or specific devices. Certain VDRs also permit users to add watermarks and track downloads to manage digital rights. These features provide security for guests who are vulnerable to document disclosure.
VDRs can be utilized in various business transactions. They are also ideal for businesses that need to securely share confidential documents outside of their firewalls. Legal firms can use VDRs to communicate with clients, a third party and colleagues in the course of litigation, due diligence or other corporate events. Private equity and hedge fund utilize VDRs to interact with limited partner, auditors and portfolio companies. Pharma and biotech firms also rely on virtual data rooms to share intellectual property information, clinical trial data as well as other proprietary information to third-party companies.
Apart from security, a good VDR provider will provide an array of other helpful features that allow you to manage and manage your documents. You should look for a user-friendly interface that is compatible with all major platforms including iOS, Android and Windows. It should also allow quick uploading or downloading of large documents. Select vendors also allow you to choose the price policy according to the amount of documents or storage.
Take note of whether the vendor offers 24/7 support for any queries or concerns that your team or external users may have regarding the platform. Transactions and essential business processes seldom occur within the 9-5 hours of a workday therefore it is crucial that your VDR service provider be responsive to your needs at all times.