A virtual data room allows a company to safely share data with investors buyers and partners without putting sensitive information at risk. The best VDRs are safe, flexible and simple to use which makes them a valuable tool for M&A due diligence as well as regulatory compliance, real estate transactions and much more.
Check out the features offered by different vendors to choose the most suitable virtual data room. For instance, you’ll need an option that secures your data in transit and storage and offers options for watermarking and restricted view functions to prevent leaks that are accidental. You should also determine whether security features of a provider are customizable.
File management tools are another feature worth considering. These include multilingual search, OCR and document preview options as well as intelligent AI category options. Check also if the virtual data room has any reports or analytics for users. Some providers, such as iDeals and Citrix offer these as part of their subscription plans. Others require an additional cost.
Finally, you should search for a virtual data room that has a simple interface. All current and former customers who review iDeals have a positive opinion about the ease of using. It’s easy to install, navigate and comprehend regardless of the users’ technical background. In the same way, there aren’t many reviews of Datasite however those that do are available highlight the ease of use. You should also look into what free trial a virtual space offers so that you can test the platform before making a decision.