A virtual data room (VDR) is an online data repository that businesses can use to share critical documents with external parties in a highly secure online environment. VDRs are typically used during financial transactions and serve as virtual “meeting” rooms where buyers, attorneys, accountants, and other professionals can safely review confidential documents. A virtual data room allows businesses to meticulously collect, organize, share, and monitor important business files during transactions.

With the omnipresence of computers, practically all companies now rely on software and technology tools to run smooth and efficient businesses. Virtual data rooms are ideal for companies embracing a ‘paperless’ approach to storing, sharing, and tracking their business-critical information.

One of the greatest strengths of a virtual data room lies, without doubt, in its security. A data room offers unparalleled security features designed to shield business-critical documents and prevent leaking a company’s sensitive information into unwelcome hands.

VDRs are also an ideal and hassle-free solution for securely sharing and tracking business-critical information with multiple parties during transactions. A virtual data room allows you to:

• Assign varying security levels to users and documents
• Apply view only, printing and download restrictions to documents
• Place dynamic watermarks on viewed and printed pages for document security
• Monitor and track the login activity of each user
• Know and control who has accessed each document and how many times

1. Security Choose a virtual data room provider that pays attention to three primary areas of security: Data security (virus & intrusion protection, data encryption, and network firewalls), Feature security (password complexity, change and expiration requirements, inactivity timeouts, and audit tracking) and Physical security (offsite data backups, data redundancy, fire protection, biometric access, and 24×7 monitoring.).
2. Document Access Controls Choose a virtual data room that enables you to adequately control access to business-critical documents with features like assigning specific security controls to users and documents, specifying view only, print or download permissions for documents & users, dynamic watermarks, and establishing time frames for user access.
3. Reports to Track User Activity Choose a VDR that allows you to monitor every user’s activity, gain insights from all tracked users, and document activity in the data room.
4. Features Tailored to YOUR Needs Choose a data room that provides the EXACT features you need to ensure seamless transactions and does not overcomplicate the process with unnecessary features that encumber you.
5. Pricing Choose a VDR that offers transparent pricing models that meet your needs.
6. Proven Track Record Choose a virtual data room with a proven track record in facilitating transactions within your industry.
7. Customer Support Choose a VDR with a customer support team dedicated to providing clients with the rapid support they need and expect!