A digital dataroom (VDR) offers a secure platform to exchange confidential documents during business transactions. It allows users to work on the same document simultaneously and in a safe, organized manner. VDRs are typically employed for M&A, due diligence, and other significant corporate transactions.
The top VDRs provide granular permissions, so users only have access to the files they need. They also offer a variety of security features like multi-factor authentication, IP and time limitations. They also have features that make it simple to navigate through large amounts of information. For instance, they can include infinite scrolling and smart AI categories. They may also add watermarks to prevent documents from being distributed without the proper attribution.
It is essential to take into account the size of your business and the volume of documents you will upload when selecting the VDR. Smaller companies require smaller features for managing their data than larger companies. Look for a company that offers a simple, user-friendly interface that is accessible from both mobile and desktop devices. It is also important to choose a service that has strong integrations with popular productivity tools like Microsoft Office and Slack.
Certain VDR providers have a dashboard that allows administrators to manage access and activity. They also provide detailed reports that includes every login agreement clicked and watched, the video, or document that was viewed, printed and downloaded. This lets administrators track user’s activities and ensure compliance.