Businesses frequently need to share sensitive information with third parties for M&A and other financial transactions. A virtual dataroom (VDR) can be a convenient and secure way to facilitate these kinds of transactions without exposing themselves to the risk of a breach. However not all VDRs are made identical. The best choice for your specific business needs will require an analysis of features, pricing and security options. This article outlines the most important advantages of a virtual information room to help you make the right choice.
Accessibility
VDRs allow simultaneous access for multiple users, regardless of locations. This can result in significant time savings. VDRs are an excellent alternative to datarooms that require interested parties as well as dealmakers to travel and look through endless piles of papers.
Security
The top virtual data rooms come with advanced encryption as well as other security features to safeguard your files both in storage and during transfer. They also offer advanced collaboration tools and granular permissions for users to simplify due diligence. Examine the privacy and security policies of your VDR before signing up.
Choose an VDR that has a robust sign-in process as well as other security features, such as two-factor authentication, file watermarks and restricted view features to avoid leaks. It should also let you check the number of files that users have seen, when they signed in, as well as which IP address they used.