A virtual data room offers an secure and safe environment for sharing documents and files with various stakeholders during M&A. It allows users to read and comment on documents, exchange information with other participants, track activities and more. Its benefits include an easy-to-use interface along with solid security and collaboration features and a low price when compared to traditional storage solutions.
In the case of a VDR access is controlled by permissions that are set at the folder level or at the document level. You can restrict the download to only PDF versions of documents, or the original documents with watermarks. It is also possible to set a date for expiration for documents and track who has downloaded what, and when. Admins can “virtually” shred documents, or deactivate the download rights when needed.
A good virtual data room will also have an intuitive and flexible platform that is able to be customized to meet your specific business processes, IT systems and workflows. It should also support drag-and-drop uploading, and allow the creation of customized folder structures and a full search feature. It should also provide an audit trail, along with a simple file tagging feature to ensure that all activities are recorded.
The most suitable open source virtual data room will have an extensible API to integrate with other applications and tools. It will also provide an array of options for customization which include the ability to personalize your user interface. A strong security model will guard against insider threats. It will also perform regular vulnerability scans and penetration tests of the infrastructure using a third-party vendor, and will implement protection against attacks that cause denial of service.