What to Look For in Virtual Data Room Software

For companies seeking an encrypted and secure way to share and review sensitive documents, virtual data room software is the ideal solution. The most popular use case is M&A due diligence, however it can also be useful to those who are simply considering an offer to purchase, since they can review new business partners’ proposals without fear of their private information being released.

A well-designed VDR can be used to safeguard confidential agreements, contracts and other documentation between clients and employees. Those working in the life sciences and technology industry tend to be the largest users, however almost every business can benefit from datarooms accessing a virtual data room.

When you’re choosing a VDR there are certain aspects to look for. These include drag-anddrop uploading and bulk-uploading advanced tags and search filters, optical character recognition (OCR) tools to search full-text, automated indexing of files dynamic watermarks to indicate the documents that have been printed or viewed, as well as mobile apps for document viewing on-the-go. Many vendors offer free trials to allow you to check out how the software operates and whether it suits your requirements.

Exceptional customer support is also vital in ensuring compliance with security standards such as two-factor authentication, timed access expiration and IP-address-based access limitations. It’s always a benefit if you can customize the virtual dataroom with your own branding, terms of service and security standards.