Virtual Data Room Features
A virtual dataroom (VDR) offers an online, secure environment for collaboratively reviewing confidential documents. When it comes to M&A deals, for example companies can share files with potential buyers without the worry of them being leaked or stolen.
VDR features include access control granular to each document, file by file, information about the changes to documents, two-factor authentication, complex passwords, as with customizable NDAs. They are also designed to assist in preventing data leaks and other security breaches. In addition the VDR provides the ability to integrate with other productivity tools such as project management software, communication platforms and document editing software.
When a business decides to establish strategic partnerships or expand into new areas, it is often required to transfer large amounts of documentation. Virtual data rooms are an easy method of sharing these documents with partners across the globe. Both parties can use them to collaborate and speed up process of making decisions.
One of the best ways to explain how the virtual data room is different from other storage solutions is to consider a physical space stuffed with filing cabinets. The person who manages the room decides which cabinets every person has the ability to view and what’s inside the cabinets. A virtual data room does exactly the same thing except that it can be managed with greater ease and accuracy on any device. Administrators can, for example, enable a feature known as fence view to block out sensitive information from a document to protect it from disclosure.