What Is a Virtual Data Room?

Most of the time, when a business needs to share confidential documentation with a variety of stakeholders, it may turn to the virtual data room. These are platforms that run on software that make it easy for authorized users to access documents on any device or in any location. They are the most secure and provide several layers of security to ensure that documents remain private.

The majority of VDR providers provide a wide array of support options to www.dataroomhosting.com/how-to-choose-the-right-data-room-for-your-company/ allow customers to get the most benefit from their platform. This includes live chat in-app or phone as well as training videos and dedicated team members or project managers. Most modern VDRs are cloud-based and are compatible with mobile devices. This makes them simple to access from anywhere, at any time.

Virtual data rooms can be used to share sensitive information, and they are particularly useful in financial transactions that are complex, like mergers and acquisitions. Before an acquisition can be approved both the buy-side as well as the sellers must go through the documentation and approve it. With the VDR for storing and sharing the necessary documentation, the business can remain legally compliant and audit-friendly with a minimum of effort.

Some of the key features that most VDRs include are redaction (blacking out areas of a file so personally-identifiable information stays private), fence view (which shows only a small part of a document and prevents screenshotting) and granular document permissions (controlling who can read, edit, download, print and upload). Some VDRs even have branded watermarking to ensure a consistent appearance and feel across all documents that are printed or downloaded from the platform.