Virtual Data Room Providers

Virtual data rooms are unique software solutions for businesses that can reduce cyber threats and protect sensitive files. This is why they have become indispensable for due diligence, M&A, and other business transactions. However, not all VDR providers, however, are made identical. They differ in terms of functionality storage capacity, performance, and cost. Additionally, some offer additional services to allow for a smooth transaction.

A reliable VDR provider will provide an online repository that is secure as well as strong security features, such as two-step authentication session timeouts, locations restrictions document watermarking, view-only modes, screenshot blocking, granular user permissions, and numerous options for downloading documents. The efficiency of the VDR is enhanced by adding features such as a custom dashboard or an integrated electronic signature tool. The most efficient VDRs also have a high upload speed, virus scanning and a wide range of storage options.

Certain VDRs are focused on specific industries. For example, some provide compliance-focused solutions for biotech and medical firms. Others are designed to ease M&A due diligence. SmartRoom for instance, is a VDR specifically designed for M&A that makes deal-makers’ lives with features like the single sign-on of all parties involved in the transaction, redaction built-in as well as a variety of project-management tools.

Other particular to industries VDRs include those that are designed specifically for law enforcement, real estate and accounting. These applications require the regular transmission of documents that need to be protected from unauthorized viewing. An example of this is the construction of a building where contracts are exchanged between multiple contractors at the same time. A good VDR will allow these documents to be stored and easily accessed, even for users who are located far away.