Virtual Data Rooms (VDRs) are highly secured online platforms that permit the seamless sharing of confidential documents and other important business data with third parties during a deal making process. They are safer than sending sensitive information via email, which could expose you to legal liability.
In general the most secure data rooms are ISO 27001 compliant and have several security measures including two-factor authentication, active watermarking, timed access expiry and IP-address-based access restrictions. Some data rooms feature 24/7 support. A reputable company will offer a variety in deployment options, such as cloud-based or on premises and be simple to use and user friendly.
There are numerous top VDR portals on the market choosing the best one for your specific needs depends on the goal you’re trying to reach. Some VDR vendors customize their applications for specific industry verticals while others offer an all-purpose platform that can be customized with workflow templates. Finding a VDR that is both cost-effective and meets your needs is the most important thing. A good starting point is to read reviews (with with a grain of salt) and then contacting the provider directly to see how responsive they are. Many will also offer an opportunity to try their services for free to help you determine whether they are the right choice for your company.