Virtual Data Room Features
A virtual dataroom (VDR) provides a secure, online environment for collaboratively reviewing confidential documents. During M&A deals, for instance companies can share documents with potential buyers without risk of them being exposed or stolen.
VDR features include granular permissions for controlling access to each document on a per-file basis, crucial insight into changes made to files, two-factor authentication, complex passwords, and custom NDAs that can be customized. They are also designed to stop data leaks and other security breaches. A VDR can be combined with other productivity tools like communication platforms, project management, and software for editing documents.
When a business decides to establish strategic partnerships or expand into new areas, it is usually required to transfer large volumes of documentation. Virtual data rooms offer a seamless way to share the information with partners across the globe. They can be utilized by both parties to collaborate and speed the decision-making process.
Imagine a room filled with filing cabinets to comprehend the difference between a virtual dataroom from other storage options. The person who manages the room determines which cabinets are accessible to every person and what’s inside. Virtual data rooms are similar to physical data rooms, but they are managed more efficiently and precisely using any device. For example administrators can turn on a function called fence view that blocks sensitive information in a document to keep the information private.