Virtual Data Room Software creates an online secure space for the upload, storage and management of documents that are time-sensitive. Due diligence is often used to facilitate M&As, capital raises, and audits. For companies in the life science and technology sectors, VDRs are particularly important to store research results, clinical trial data and other proprietary information.
It is important to go beyond the list of features and capabilities provided by a particular vendor in order to find the VDR that is best suited to your requirements. You should also look at reviews from customers and ratings from employees on third-party sites like Trustpilot and Glassdoor. It’s important to choose a service provider that has been in business for a long time and has a good base of reviews.
Look for a simple, user-friendly interface that makes it simple to find and upload files. It’s also helpful if the VDR has a wide range of formats for files, is compatible with multiple languages and provides various collaboration tools.
Make sure your VDR that you choose has complete security features. It should be able to support two-factor authentication and offer password protection as well as IP address-based access restrictions. It should also allow the use of granular sharing and document watermarking. It should also offer advanced reporting which lets you monitor all activity to individual files views and downloads.
Find a VDR that allows you to alter the appearance and functions of its interface to reflect your brand. FileCloud for instance lets you add your company’s logo to login and email templates and also set permissions on the partner account.