A virtual dataroom (VDR) is an online platform for document sharing that facilitates complex processes like diligence. It allows you organize files into structured folders and provides granular control over access. You can also use it to establish an encrypted communication channel with collaborators and clients. You can also apply watermarks and limit viewing printing, saving and viewing documents. However, be sure you have properly set up the permission hierarchy and label items clearly to avoid unintentional or deliberate duplications of files.
The most effective VDR services will offer an intuitive interface that gives meaningful dashboard reporting and activity alerts. They also provide a customizable tagging system to track the status and location of your data. Certain vendors will also offer advanced features, such as auto-indexing, fence view and data rights management. Make sure the service has robust search features such as optical character identification as well as filtering and tracking documents. You should also look for the service that comes with various security options like two-factor authentication and granular password strength settings and IP restrictions.
The most effective VDR is flexible and scalable. This means it will grow with your business. It also comes with a wide range integrations that make it easier to connect other systems and tools with the platform. It should be simple to use both for internal and external users. Some VDR providers will also offer additional support services for a cost but you must weigh the cost and advantages of these services before deciding to invest in one.