A virtual data room (VDR) is a secure online environment to store and share documents that are highly private. It is used by a variety of industries to facilitate collaboration and communication among multiple individuals outside of the firewall. Common applications include M&A and litigation, bankruptcy and fundraising, as well as auditors.
When choosing a VDR make sure that it supports multi-level authentication and flexible permissions settings that can be customized to your specific needs. Also, look for a VDR that can monitor the IP address, device type and the location of users as they sign in to ensure that the data isn’t accessible from an unauthorised device or location. Another feature to consider is two-factor authentication that requires a password along with additional facts or codes to log in.
Finally, find the VDR that can monitor document activity and offer customizable reports. This can help you know who has accessed and viewed what documents, and what searches have been conducted. A good VDR will provide this function as a part of its core features, or you can add it on as an extension to your existing solution.
Choosing the best online VDR is an essential step in completing your corporate transactions securely and efficiently. It is crucial to study and understand the security options, file-sharing features certifications, as well as the customer support a service has to offer before signing up. In addition, you should test the VDR before signing the contract by requesting the free trial and asking to have 6dataroom.com it set up for more than one person in your team.