Virtual Data Room Software creates an online secure space for the upload, storage and management of time-sensitive documents. Common uses include facilitation of due diligence for M&A, capital raises, audits, and tenders. For companies in the life science and technology sector, VDRs are particularly important to store research results including clinical trial data as well as other confidential information.
Finding the best VDR for your specific needs requires more than just looking at a vendor’s list of features and functions. Consider also the customer reviews and employee ratings on third-party sites like Trustpilot and Glassdoor. It is essential to choose the service provider who has been operating for a while and has a strong base of reviews.
Find an interface that is simple to use and makes it easy to upload files and find them. It’s also helpful when a VDR provides a variety of formats for files, is compatible with multiple languages https://dataroomtrade.com/data-room-solutions-for-business-development/ and provides various collaboration tools.
Be sure that your VDR of choice has comprehensive security features. Idealy, it should support two-factor authentication and offer password protection, as along with IP-address-based access limitations. It should also be able to support document watermarking, granular sharing and other features. It should also permit advanced reporting, which allows you to monitor all activity to individual files views and downloads.
Look for a VDR which allows you to modify the appearance and function of its interface to reflect your brand. For example, FileCloud enables you to add your logo to the login page and email templates, as well as to give permissions to partners at the account level.