Virtual data rooms are distinctive business software products that significantly reduce the threat of cyber attacks and secure confidential files. They are crucial for due diligence, M&A and other business transactions. However there are many differences between VDR providers. VDR providers are created equal. They differ in terms, storage capacity, and price. Some also offer additional services to simplify the transaction.
A quality VDR will have a secure repository online with robust security features. These include two-step verification and session timeouts. Other features include document watermarking, as well as view-only modes. Screenshot blocking is also available. Increased productivity is achieved by incorporating features like a custom dashboard or an integrated eSignature tool. The top VDRs also come with a speedy upload speed, virus scanning and a range of storage options.
Some VDRs are focused on specific industries. For instance, some VDRs offer solutions that are focused on compliance for biotech and medical firms. Some are designed to facilitate M&A diligence. For instance, SmartRoom is an M&A-centric VDR that eases the lives of deal makers by providing features like one sign-on process for all parties involved in transactions with built-in redaction features, as well as various project management tools.
Other VDRs are specifically designed for certain sectors, like accounting, real estate, and law. These applications require frequent transmission of documents that need to be secure from unauthorized viewing. A good example is the construction of a building where contracts are exchanged between multiple contractors simultaneously. A good VDR allows these documents to be stored, and viewed easily by remote users.