What to Look for in a Virtual Data Room for Business
A virtual dataroom for businesses is an online repository that provides a safe environment to share confidential files outside the corporate firewall. It is used for a range of projects, including M&A due diligence, and project management.
The top VDR providers include a range of security features that block hackers from gaining access sensitive documents. These include granular permissions, which allow administrators to block certain documents and folders from the users, NDA popups, which are automatically displayed to anyone downloading documents, and activity logging, which records every interaction within the VDR. Other security features include two-factor authentication, a customizable dashboard as well as an SSL-encrypted network.
It is also important to consider the way a VDR provider handles the documents that its customers upload to the platform. Certain vendors provide multiple tools for managing the data, including multilingual search (about 16 languages), OCR, file preview, and smart AI categories. This helps both small and large companies to locate the data they require and work with it.
Another thing to look out for in a virtual data room is its pricing policy. Some providers charge monthly flat charges while others offer a variety of packages based on the number of pages, size of storage and per-user charges. A company that offers an initial trial for free is an option.
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