Virtual data rooms (VDRs) are typically used by lawyers, accountants and auditors of a business who need to access confidential information without the risk of a hacking attack or a breach of compliance. A specially designed VDR is designed to permit third parties to look over confidential documents in an online environment with no risk.

VDRs are commonly used for M&A due-diligence. Companies who are merging or purchasing require a secure platform for keeping the relevant documents. Investors who are interested in investing also require an easy way to review it. A dedicated VDR lets the process be completed smoothly and ensures that the important information is only shared when required. If a deal does not close, access can be revoked instantly.

Many VDR vendors offer a variety user management tools which allow you to control the information that users view. Always ensure that the platform you select includes robust settings for permissions so that you can limit https://www.fishdataroom.com/ideals-vdr-review/ access to specific types of information. This includes finer details like the file’s name and size. You should also choose one that allows for granular auditing, including activity logs. This will provide you with complete transparency about who is viewing which files.

If you are planning to make use of your VDR to support critical processes that do not operate from 9-5, look for a vendor who offers 24/7 assistance. It’s worth the extra cost to have a dedicated team to assist with questions and concerns.