The virtual data room is a vital solution for businesses involved in complex and sensitive transactions that require large amounts of documentation. VDR services, however, are not all made in the same way. Different features, pricing, and security settings can affect the efficiency of the VDR and its ability to adapt to specific workflows and processes. The first step in filtering through the numerous vendors is to understand what you require. The handling of sensitive data can involve a range of use cases and it is vital that the software can be specifically tailored to your needs and expectations.
For instance the investment bankers typically depend on VDRs for their M&A processes, which may involve huge amounts of documentation, as well as sharing of highly confidential information with third parties including competitors. They expect to be able to depend on a VDR which provides a high degree of security, including high-end encryption, secure connections, replication over multiple private servers and advanced authentication processes. They must be able to create and configure watermarks which can be applied to specific documents, folders or a collection of items.
Other notable features include the ability to limit printing and screen capture, as well as the ability to deactivate access after the document has been downloaded. VDRs can also be useful in allowing administrators to track user actions down to the individual page level. This provides them with understanding of who is reviewing what and when.
A virtual data room must be able support the wide range of devices and browsers without needing users to install plugins or download applications. It is also beneficial when the interface is easily navigated.
