Virtual data rooms (VDRs) are online storage services that enable secure exchange of digital documents. VDRs integrate cloud storage with security to enable users to access shared data via any internet-connected device at any time. In the end, VDRs enable companies to share their data more quickly and securely than traditional data rooms, or digital sharing methods.

A modern-day virtual data room provides a range of document-specific security features that allow for a granular web filtering content filtering control of who can print, save, or view the document. It should also feature an ability to search that can locate information within documents and files, such as PDFs, and give intelligent results. It should also come with document processing capabilities that convert typed or handwritten text, paper-based documents as well as text saved as images into digitally readable format. It must be able to track and record user activities down to the page level, providing a detailed audit trail for purposes of compliance as well as in case of disputes.

It is vital that VDR providers offer extensive onboarding and training sessions for their users, since many will be new to the platform. This could be via webinars, video tutorials or other online interactive sessions. A VDR should also be able of integrating seamlessly with popular productivity software, like project management tools or communication platforms as well as software for editing documents. This will enhance navigation and collaboration. It should also be equipped with advanced cross-platform and mobile compatibility to allow users to work remotely.