For companies looking for a secure place to share and review sensitive documents virtual data room software is the answer. Its most common application is due diligence for M&A, but it can also be used by those who are merely considering buying a product, as they can review proposals from potential new business partners without having to worry about their confidential information being leaked.
A reliable VDR can be used to secure confidential contracts, agreements and other documents between employees and clients. The life sciences and technology industries are among the most frequent users of virtual data rooms but any company could benefit from them.
When choosing for a VDR there are certain characteristics to look for. These include drag-and drop uploading and bulk-uploading advanced tags and search filters, optical character recognition (OCR) tools for full-text search, automatic indexing of documents and dynamic watermarks to mark the document’s printout or viewed, as well as applications for viewing documents on-the-go. Many companies offer free trials that allow you to check out how the software works and whether it suits your requirements.
It is also important to provide top-quality customer service and also to be in compliance with security standards, such as two-factor authentication and IP-based access restrictions. It’s always a plus if the vendor can help you to customize your virtual data room to reflect your own branding and terms of service.