25 Oct Finding the Right Virtual Data Room Software
Virtual Data Room Software creates an online, secure space to upload, store and management of documents that are time-sensitive. Common uses include facilitating due diligence for M&A capital raises, audits, and tenders. For companies in the life science and technology industries, VDRs are particularly important for storing research results, clinical trial data and other proprietary information.
Choosing the right VDR for your specific needs will take more than reviewing a vendor’s list of features and functions. You should also take into consideration the reviews of customers and employees on third-party websites like Trustpilot and Glassdoor. It is recommended to choose an organization that has been around for a while and has built a solid foundation of credible reviews.
Find an interface that is easy to use and makes it easy to upload and find files. It’s a plus when the VDR supports multiple languages, has an array of file formats, and includes a range of collaboration features.
Make sure that the VDR you choose has comprehensive security features. Ideally, it should have two-factor authentication and offer password protection as well as IP-address-based access limitations. It should also allow granular sharing, document watermarking and other features. It should also provide advanced reporting which lets you monitor all activity to individual file views and downloads.
Finally, look for A VDR that allows you to alter its appearance and features to suit your company’s brand. FileCloud for instance, allows you to add your logo to the login and email templates as well as to set permissions on the account of your partner.
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