Virtual Data Room Providers
Virtual data rooms are unique software solutions for businesses that help reduce cyber threats and protect sensitive files. They have become indispensable for due diligence, M&A, and other business transactions. However, not all VDR providers, however, are created equal. They come with different features, storage capabilities, and pricing models. In addition, some offer additional services that can allow for a smooth transaction.
A reputable VDR provider will provide a secure online repository and robust security features, like two-step authentication sessions, session timeouts and location restrictions document watermarking, view only modes block screenshots, specific user permissions for users, and numerous options for downloading documents. Other features, such as a user-friendly dashboard and an integrated e-signature tool, can boost productivity. The best VDRs also come with a speedy upload speed, virus scanning and a wide range of storage options.
Some VDRs are specialized in specific industries. For instance, some offer solutions to ensure compliance for biotech and medical businesses. Certain are designed to make it easier for M&A diligence. For instance, SmartRoom is an M&A-centric VDR that streamlines the lives of deal-makers by offering features such as one sign-on procedure for all parties involved in a transaction with built-in redaction features, as well as multiple tools for managing projects.
Other particular to industries VDRs include those designed for law, real estate and accounting. These applications require frequent transmission of documents, which must be protected against unauthorized viewing. Construction of a building is a good example, where contracts have to be exchanged with several contractors at the same time. A quality VDR allows these documents to be stored, and accessible to remote users.
