About Virtual Data Room
The right VDR allows businesses to complete critical business transactions, streamline complex processes, and ensure sensitive information is protected and easily accessible. Not all VDRs perform the same. Different architectures features, feature sets, and performance can impact how easy they are to use and adapt to specific workflows. Request a demonstration with a provider that you can test to see if their platform can meet your particular business needs.
A key metric to look at is the uptime and reliability data as it gives insight into the performance of the vendor’s hosting infrastructure and the stability of the system. Request the vendor to provide a list of past downtimes and outages to find how they were resolved and when, as this will provide you with an idea of their level of service.
VDR partners should also provide an array of security features, like multifactor authentication security, virus and malware scanning and advanced cryptography to ensure the security of documents. Choose a company with these features, and physical security measures, such as offsite backups, fire protection and biometric access to their data centers.
Virtual data rooms are used by companies across many industries to securely share documents with clients and other individuals. For instance, legal firms employ a VDR to securely share confidential documents with their client and litigation teams, and financial institutions will utilize a VDR to conduct M&A deals or fundraising rounds. Activity tracking is detailed in a VDR lets users know who is who, when, where and how each document is examined for greater transparency.