A virtual dataroom lets companies to share data with buyers and investors without putting sensitive data at risk. The most secure VDRs are safe, flexible and user-friendly making them an essential tool for M&A, due diligence as well as regulatory compliance, real estate transactions and more.
To choose the best virtual data room, you need to think about the features you require and then evaluate the offerings of different vendors. You’ll require a service that can secure your files when they are transferred and stored and provides features such as watermarking and restricted access to avoid leaks. You should check whether the security features of a vendor are customizable.
Another option to consider is tools for managing files. These include multilingual search, OCR and document preview options, as well as smart AI categories. Also, be sure to find out what reports and analytics the virtual data room can provide. Some providers, such as iDeals or Citrix include these features in their subscription plans while others charge an additional cost.
Finally, you should choose the right virtual dataroom that has an intuitive interface. The ease of use is most frequent remark current and past customers mention when reviewing iDeals, and it’s clear why: the program is simple to set up and navigate, regardless of user’s technical backgrounds. Datasite has fewer reviews, but those which do exist highlight how user-friendly the platform is. Check what kind of trial a virtual room offers to test before making a final decision.