Virtual Data Room Providers
The top virtual data rooms are safe and simple to use and allow users to share and read documents. They can also set granular permissions, set the date for expiration of access, and limit sharing by IP address or a specific device. Certain VDRs also permit users to add watermarks and track downloads in order to manage digital rights. These features protect guests who might otherwise be vulnerable to document disclosure.
VDRs are used for many business transactions, and are great for businesses that need to secure transfer confidential documents outside of their firewalls. Legal firms can make use of VDRs to communicate with their clients, partners, and colleagues in the course of litigation, due diligence or other corporate events. Private equity and hedge funds typically use a VDR to communicate with auditors, limited partners, and portfolio companies. Pharma and biotech firms are also dependent on virtual data rooms to exchange intellectual property information, clinical trial data and other confidential information to third-party companies.
Alongside security, a good VDR provider will offer various other beneficial features that allow you to manage and control your documents. Look for a user friendly interface that is compatible with all major platforms, including iOS, Android and Windows. It should also allow quick uploading or downloading of large documents. Select vendors also permit you to select an pricing policy that is based on the number of documents or storage.
Be sure to think about whether a vendor has 24/7 support to address any concerns or questions your team or external stakeholders might have about the platform. Transactions and important business processes don’t happen during the hours of 9-5 therefore it is crucial that your VDR provider be responsive to your needs at all times.