Virtual Data Room (VDR) is a distinct software product for businesses that minimizes the risk of data breaches. It also makes it easier for dealmakers to share confidential files across different platforms and devices. It is specifically designed for M&A due diligence, litigation support and other complex processes which require secure sharing of documents with many parties simultaneously. Its security features like multi-factor authentication, session timeouts, location restrictions, granular user permissions, and secure file viewer with watermarking, view-only mode, screenshot blocking and encrypted downloads ensure the security of sensitive information and prevent unwanted leakage of data.
VDRs also come with advanced collaboration tools, such as document annotations, Q&A sections as well as the ability to assign tasks that speed up deal-making process significantly. They are usually more expensive than cloud storage services, but the higher price tag is justified by the high-level security and professional support.
If you’re choosing a VDR ensure that it has a dedicated section on its website where you can read customer testimonials and customer stories. Also look for an offer for a trial, numerous options for deployment, and a custom interface. Check if the vendor has a flat cost per month or offers different pricing options such as per page, per storage or per user. Be sure to check out the help section of the vendor which may contain articles and videos along with phone and in-app support. iDeals offers a complete and intuitive UI that lets you manage data easily. Its various reporting options are especially useful and helpful when it comes to data analysis.
