The virtual data room is an essential solution when businesses are involved in sensitive and complex transactions that require a large amount of documentation. However, VDR services are not created to be the same. Differences in features, price points and security solutions can impact the effectiveness of a VDR can adapt to specific workflows and processes. Understanding what you need is the first step to getting rid of all the vendors. The handling of sensitive data can be a complex set of scenarios, so it is essential that the software can meet your requirements and expectations.
Investment bankers, for example, depend on VDRs to manage their M&A process, which can involve a substantial amount of documentation and the sharing of highly sensitive information with other parties, for example competitors. This is why they expect rock-solid security guarantees such as military-grade encryption secure connections, secure replication across multiple private servers and advanced authentication processes. They should also be able to create and configure watermarks which can be applied to specific folders, documents or even a entire collection of items.
Other key features include the capability to limit screen capture and printing, as well as the ability to deactivate access after the document has been downloaded. It’s also beneficial for VDRs to allow VDR to allow administrators to monitor user activity all the way to the level of the page, giving them insight into what is being scrutinized and by whom.
A virtual dataroom should be able support a variety of devices and web browsers without requiring users to download plugins or apps. It is also beneficial to have an interface that is easily navigated.