A Virtual Data Room is an online repository of documents that permits authorized users to upload and access sensitive data. The top VDR providers offer a complete set of features to optimize business processes across a variety of industries. VDR software for business is ideal for any circumstance where external parties are required to look over sensitive files and documents of the company regardless of whether it’s due diligence by law firms during an M&A process or financial analysts examining economic reports and budgets or a mortgage broker reviewing loan applications.
The top VDRs offer tools to efficiently organize these files and documents with automatic indexing, workflows that are streamlined by allowing customizable templates and permission settings that permit the control of usage in a granular manner. They can also accelerate the efficiency of projects by offering tools to facilitate discussions with collaborators and provide a rich search engine with filters, bookmarks and favorite folders. The top VDRs also allow you to keep track of who is visiting the VDR and which pages they are viewing. This information is important and can be used to improve projects or pursue new opportunities.
A reliable VDR is also equipped with strong security protocols like two-factor authentication, fence view and other features that restrict authorized users from taking photos or screenshots of confidential files. They can also allow administrators to limit access to the VDR by restricting the duration of usage and access to IP addresses, so that if a person gains unauthorized access to a computer they won’t be able to access the VDR.