A digital dataroom (VDR) offers an secure platform to exchange confidential documents during business transactions. It lets users work on the same document at the same time and in a safe well-organized manner. VDRs are commonly used in M&A transactions, due diligence and other corporate deals that are high-value.
The best VDRs offer granular permissions so users only have access to the files they need. They also offer a variety of security options, such as multi-factor authentication and IP time restrictions. They also offer features that allow users to navigate large amounts of information. For instance, they might include infinite scrolling and smart AI categories. They can also include watermarks that prevent documents from being distributed without acknowledgment.
When choosing the right VDR, it is important to take into account the size of your company and the amount of documentation you will be uploading. Smaller businesses typically need smaller features for managing their data than enterprises. Look for a provider that has an easy-to-use interface that can be accessed by both desktop and mobile devices. You should also choose a provider with robust integrations with popular productivity tools, like Microsoft Office and Slack.
Certain VDR providers have a dashboard that allows administrators to easily manage access and activity. They also provide comprehensive reporting, which includes every login, agreement that was clicked or viewed, a video, or document that was printed, viewed and downloaded. Administrators can track user’s activities and ensure compliance.