A virtual dataroom (VDR) is an online platform for document sharing that facilitates complex processes like diligence. It lets you organize your files into structured folders and provide granular access controls. It can be used to create an encrypted channel for communication with clients and collaborators. You can also add watermarks and restrict viewing, printing and saving documents. However, be sure to properly set up the permission hierarchy and name items clearly to avoid unintentional or deliberate duplication of files.
The best VDR services will provide a user-friendly interface that provides useful dashboard reports and activity alerts. They will also provide an individual tagging system that can be customized to track the status and location of your data. Certain vendors will also offer advanced features, such as auto-indexing, fence views and data rights management. Check to see if the provider offers robust search features such as optical character identification, filtering and tracking documents. You should also look for the service that comes with various security measures like two-factor authentication, granular password strength settings and IP restrictions.
The best VDR software is flexible and scalable, which means that it will grow with your business. It also has a wide array of integrations, which makes it easier to integrate other tools and systems to the platform. It should be simple to use, both for internal and external users. Some VDR providers offer additional support for a cost. You must weigh the cost against the benefits before deciding to purchase one.