Virtual Data Room is a unique software for businesses which reduces the risk of data breaches and makes it easier for dealmakers to share confidential files across different platforms and devices. It is designed to be used in M&A and litigation support due diligence, and other complicated processes that require secure document sharing. Its security features like multi-factor authentication session timeouts and location restrictions, granular permissions for users and a secure file viewer with watermarking, view-only mode, screenshot blocking, and encrypted downloads ensure the security of sensitive data and prevent unintentional leakage of information.
VDRs also have advanced collaboration tools, such as document annotations, Q&A sections and the ability to assign tasks that speed up the negotiation process dramatically. VDRs are generally more expensive than cloud-based storage options. However, the higher price is justified by their high-level security.
If you’re choosing a VDR, ensure that it has designated areas on its website where you can read customer testimonials and customer stories. Also look for trials, a variety of options for deployment, and a custom interface. Additionally, you should check if the vendor charges a flat monthly fee or several pricing strategies like per-storage, per page, or per-user. Pay attention to the help center of the vendor, which may include articles and videos, as well as phone and in-app support. iDeals is an excellent VDR with an intuitive and a comprehensive interface that lets you manage your data with ease. Its reporting feature is particularly beneficial and useful for data analysis.