A virtual data room (VDR) is a safe and secure storage space for sharing important data with third parties during large transactions, such as M&A. A VDR can reduce risk of data breaches and theft of intellectual property by blocking unauthorized access to confidential documents. It can save money as well as time by eliminating the need to meet in person to review information.
Consider how you will use the VDR and what types of files are included in the deal prior to selecting a provider. Select a virtual data room that has the size storage, format, and size limitations that are appropriate for your particular project. The interface should be simple to use by all users even those with no prior experience in technology.
Some providers offer a free trial to test the system before signing an agreement. You can decide if it’s worth the cost based on whether or not the software meets your needs. If you’re not happy with the trial period, you can end the trial before the subscription expires.
The top VDRs provide a range of document protection features to protect your sensitive documents. These include options to block printing or downloading screenshots, and also digital watermarking to stop leaks. There are audit logs which show who has been able to view or modify each file, so you can keep track of who has viewed or modified the file.