Virtual Data Room Features

23 Oct Virtual Data Room Features

A virtual data room (VDR) is a safe online space that allows collaboration when reviewing confidential documents. In M&A transactions, for instance, companies can easily share files with potential buyers without fear of them being stolen or divulged.

VDR features include granular permissions to manage access to each document on a file-by-file basis, crucial insights into changes made to files and documents, two-factor authentication, complicated passwords and customizable NDAs that can be customized. They also help protect against data leaks and other security breaches. A VDR can be combined with other productivity tools, including communication platforms, project management and software for editing documents.

If a company decides to form strategic partnerships or expand into new areas, it is usually required to transfer large amounts of documents. Virtual data rooms can be a useful method of sharing information with partners across the globe. They can be utilized by both parties to collaborate and speed up the decision-making process.

One of the best ways to explain how the virtual data room differs from other storage options is to imagine an actual space that is filled with filing cabinets. The person who manages the room determines which cabinets are accessible to each person and what’s inside. Virtual data rooms are similar to physical data rooms, however, they can be controlled more easily and efficiently from any device. An administrator can, for instance utilize a feature called fence view that blocks sensitive information from a document in order to keep it secure.

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