Virtual Data Room Software is an online secure space that allows the uploading, storage and management of files that are time-sensitive. Common uses include helping with due diligence for M&A capital raises, audits, and tenders. For companies operating in the life science and tech sectors, VDRs are particularly important to store research results such as clinical trial results and other proprietary information.

You must look beyond the list of functions and features that a vendor offers to find the VDR that is best suited to your needs. It is also important to look at the reviews of customers and employees on third-party websites like Trustpilot and Glassdoor. It is important to select a service provider that has been in business for https://dataroomtrade.com/what-is-a-data-room/ some time and has a strong base of reviews.

Find an interface that is easy to navigate and easy to upload and find files. It’s advantageous to know that the VDR supports different languages, offers various file formats and has a range of collaboration features.

Make sure that the VDR you choose has comprehensive security features. Ideally, it should offer two-factor authentication and offer password protection, as along with IP-address-based access limitations. It should also allow document watermarking and sharing at a granular level. Additionally, it should allow advanced reporting that enables you to view detailed information down to individual file views and downloads.

Look for look for a VDR which lets you alter the appearance and functions of its interface to match your brand. FileCloud, for example allows you to add your company’s logo to login and email templates as well as set permissions on the account of your partner.