Finding the Right Virtual Data Room Software
Virtual Data Room Software is an online secure space that allows for the uploading, storing and management of time-sensitive files. Common uses include the facilitation of due diligence for M&A, capital raises, audits and tenders. VDRs are a useful tool for companies working in the life science and technology sectors. They store research results including clinical trial data as well as other information that is proprietary.
It is important to go beyond the list of features and functions provided by a vendor to find the VDR that best suits your requirements. Also, consider the reviews of customers and employee rating on third-party sites such as Trustpilot and Glassdoor. It is best to select a provider that has been in business for a long time and has built up a solid base of reliable reviews.
You should look for a simple, user-friendly interface that makes it easy to upload and find files. It’s a plus if the VDR supports multiple languages, offers a wide range of formats for files and comes with a range of collaboration features.
Be sure that your VDR that you choose has complete security features. Ideally, it should offer two-factor verification, and provide password protection as well as IP-address-based access restrictions. It should also allow watermarking on documents, granular sharing and other features. It should also permit advanced reporting that allows you to view all activity, down to individual files views and downloads.
Look for a VDR that allows you to customize the appearance and functionality of its interface to fit your brand. For instance, FileCloud enables you to include your logo on the login page and email templates and also to assign permissions to partners at the account level.
