A Virtual Data Room is an online document repository that allows authorized users to upload and access sensitive information. The top VDR providers provide a comprehensive array of features to help optimize processes across different industries. A business vdr program is ideal for any situation that requires external parties to review sensitive files and documents of the company, whether it’s due diligence by law firms during an M&A process or financial analysts reviewing economic and budget reports, or a mortgage broker looking over loan applications.
The best VDRs provide tools to help you organize these files and documents through automatic indexing workflows that are efficient by allowing customizable templates and permission settings that permit precise control over usage. They also help accelerate project productivity with tools for facilitating discussions with collaborating parties and offering a rich search experience through filters, bookmarks, favorites folders and infinite scrolling. The most effective VDRs also let you monitor and track who’s visiting the VDR and which pages they are visiting. This data is valuable and can be used to improve projects or pursue new opportunities.
A reliable VDR will also offer solid security protocols, like two-factor authentication and fence view for preventing an authorized user from photographing or taking screen images of confidential files. Administrators can also use them to restrict access by limiting the duration of usage as well as IP access, so that if someone gets unauthorized access to a computer, they won’t have the ability to access the VDR.
