Features and Functions of Virtual Data Room

Virtual data rooms are frequently used to conduct due diligence in M&A transactions. However they are also useful for any initiative that requires a company to share sensitive information. For legal compliance, certification, investments or simply sharing information with partners, the appropriate VDR will make the process strengthening business foundations with solid IT infrastructure easier without exposing a firm to the risk of compromising or breaching security.

The most effective virtual data rooms come with the most advanced set of features for collaboration and tracking which help make the entire process more efficient. These include document annotating tools, Q&A sections and the capability of assigning tasks. Many providers offer multilingual as well as in-app support, which is essential for teams who are geographically dispersed, but working on projects together.

Another important feature is the ability to control access. This can be achieved by granting permissions granularly at the folder and document level and allowing users to select which files they see and where. This is important because sensitive data can be viewed on different devices, ranging from computers to smartphones. All of these devices will be secured by high-end security in the best virtual data rooms.

Finally, a good virtual data room should have an extensive set of analytics and reporting, which allow administrators to keep track of every activities within the room. This can include anything from who viewed the files to what changes were made to the document. This will ensure that sensitive information is protected even after the data room has been closed.