What Is a Virtual Data Room?
A virtual data room (VDR) is an online storage space for the secure sharing of digital documents. VDRs integrate cloud storage with security to allow users to access shared data from any device on the internet, at any time. VDRs let companies share information more quickly and securely compared to physical data rooms or other sharing methods.
Modern data rooms provide many security options for documents, which allow an individual control over who can view or print a file. It should also offer an ability to search that will find information in various documents and files – including PDFs – and provide intelligent results. It should also incorporate document processing capabilities that convert typed or handwritten text, paper-based documents and documents saved as images into a digitally understandable format. It should be able to track and record user activity at the page level, providing a detailed audit trail to ensure compliance as well as in case of disputes.
It’s crucial that VDR providers offer extensive training and onboarding sessions for their users, since many are new to the platform. This could be done through videos, webinars, online tutorials or other interactive sessions. It’s also important that a VDR allows seamless integration with popular productivity tools, such as software for managing projects, communication platforms and applications for editing documents. This will allow for easier navigation and more efficient collaboration. It should also offer advanced cross-platform and mobile compatibility to allow users to work remotely.