Virtual Data Room Providers

Virtual data rooms are distinctive software for businesses that drastically reduce the threat of cyberattacks and protect confidential files. They have become essential for due diligence, M&A and other business transactions. There are many VDR providers, however, are made to be the same. They differ in terms of functionality storage capacity, performance, and price. Some also offer additional services to make the transaction easier.

A reputable VDR provider will provide an online repository that is secure as well as robust security features, like two-step authentication sessions, session timeouts and location restrictions and document watermarking. It also offers view-only modes and screenshot blocking, as well as granular user permissions, and a variety of options for downloading documents. The efficiency of the VDR is enhanced by adding features such as a custom dashboard or an integrated eSignature tool. The best VDRs come with a quick uploading speed, virus scanning, and a variety storage options.

Certain VDRs are specialized in certain industries. Some VDRs, like, provide compliance-centered solutions to biotech and medical companies. Others are designed to facilitate M&A due diligence. SmartRoom, for example, is a VDR designed for M&A that simplifies deal-makers life by providing features such as an all-in-one sign-on system for all parties involved in the transaction, redaction built-in and a variety of project management tools.

Other specific to the industry VDRs are available for law, real estate, and accounting. These applications require frequent transmission of documents, and must be protected against the unauthorized access. Construction of a building is a good example, where contracts need to be exchanged with several contractors at the same time. A reliable VDR allows these documents to be saved and can be easily viewed by remote users.