VDRs (Virtual Data Room) are highly secure online platforms that allow for the seamless sharing of confidential documents and other critical business information with third-party parties during a deal-making process. They offer a more secure alternative to sending sensitive files via email, which could expose a number of potential security flaws that could cause legal liability.
In general, the most secure virtual rooms are ISO 27001 compliant and include a range of security features, including two-factor authentication and active watermarking. They also have access restrictions based on IP address and expiry time. Some also have a dedicated support staff that can be reached 24/7. A reputable company will offer flexible deployment options such as cloud-based or on premises and be easy to use and easy for users.
There are numerous VDR portals available however, choosing the right one for your needs will depend on what you want to achieve. Some VDR providers tailor their software to specific industries and others offer a general-purpose platform which can be customized with workflow templates. The most important aspect to consider when selecting the right VDR is finding an option that is cost efficient and meets your needs. Start by reading reviews, but be sure to take them with a grain or two of salt. Then contact the providers to find out how they respond and how helpful they are. A lot of providers will offer the opportunity to try their services for free, which will help you determine if they are right for your company.