A virtual dataroom (VDR) offers a secure space to store and exchange sensitive information. It is commonly used for M&A due diligence, however it is also accessible to serve other purposes, such as raising funds or selling an asset.
When choosing a VDR for your project, ensure that it is user-friendly and easy to navigate. Improve collaboration with features like real-time annotation and commenting. This will help keep projects moving. You should also consider an VDR equipped with tools to control versioning to evaluate and verify documents during due diligence.
VDR security is essential, especially with the rise of hacking incidents. A reliable VDR includes a range of enterprise-grade security features for protecting your files including access only for view and granular permissions. It could also offer dynamic watermarking, access only for view and more. They will also provide multiple security options that includes physical security such as redundant servers and monitoring 24/7 and application security - encryption methods, audit trails for users, user authentication and more.
The top VDRs offer a simple pricing structure that is comparable to other services you may utilize, like internet and cell phone plans. You should look for a monthly or annual flat cost, with additional charges that are based on the usage. This will help you avoid unexpected costs and overage charges. Also, look for a solution that has restore and backup capability, to ensure that your data is safe in the event of any disaster.