A virtual dataroom is a platform that lets companies share confidential documents with third parties without worrying about leaks. The platform offers a range of security features, including specific access to documents printing and download permissions, multi-factor authentication, IP and time limitations and custom watermarks. Administrators can also track document activity by creating user groups, and invite users bulkily. Some VDRs offer support in several languages, and provide a variety of contact channels to suit the needs of different companies.
The platform could be used for a number of purposes, including litigation, accounting, and due diligence on immovable property. It is useful in mergers and acquisitions as it will increase transparency and reduce the number meetings needed to complete due diligence. Additionally it can assist in avoiding costly mistakes that virtual board room for business can be made during M&A processes, like the discovery of unexpected expenses or regulatory fines.
When choosing a VDR it is crucial to understand the capabilities and features of each option to ensure it is appropriate for your business needs. For instance, some options are based on per-page, or storage-based pricing policies which can be expensive for large projects. Others provide a bespoke enterprise experience that has unlimited administrators and robust storage capacity.
A modern VDR is a user-friendly and intuitive interface, with advanced collaboration tools. Mobile apps let users view documents, annotate them, and edit them on the move. They can also search across platforms and devices. Administrators can track the number of views to files, downloads, and edits made by users as well as their usage time.