The virtual data room is a vital solution for businesses who are involved in sensitive and complex transactions that require a significant amount of documentation. However, VDR services are not created in the same way. Different features, price points and security solutions can affect efficiency and how well a VDR can adapt to specific business processes and workflows. The first step to filtering through the various vendors is to determine what you require. The handling of sensitive data can involve several different use cases and it is essential that the software you choose to use can be customized to meet your specific requirements and expectations.
For instance Investment bankers frequently depend on VDRs for their M&A processes that can contain huge amounts of documentation and sharing of highly sensitive information with third parties including competitors. This is why they expect rock-solid security guarantees that include military-grade encryption standards secure connections, secure replication across multiple private servers and advanced authentication methods. They need to be able create and configure watermarks that can be applied to specific folders, documents or collections of items.
Other key features include the ability to restrict screen capture and printing, as well as the ability to deactivate access after a document has been downloaded. It data room provider is also useful for a VDR to let administrators track user activity down to the level of the page, giving an insight into what’s being evaluated and by whom.
A virtual dataroom must be able support a variety of web browsers and devices without requiring users to download plugins or apps. It is also helpful to have an interface that is easily navigated.