Virtual data rooms are a convenient way to store and share confidential documents. They are utilized in M&A transactions and loan syndication as well as private equity and venture-capital transactions in addition to other corporate collaborations requiring the sharing of sensitive data with external parties. They permit secure storage of intellectual property, which prevents it from being stolen.
While some VDR providers cater to specific kinds of transactions or industries they all offer the full range of security features that are typically required for any type of data handling. Some of the most crucial options include granular access privileges as well as multi-factor authentication. document watermarking fence view that blocks screenshots, and a variety of other advanced security options.
VDRs also provide different file processing capabilities that aren’t usually accessible through standard file-sharing services. For example, they can convert text written by hand or typed into searchable data, convert paper-based documents into digital files and let users extract specific information from PDFs. They can make files easier to read by converting them to various formats based upon the user’s preferences.
Review the virtual data room provider’s certifications for security and compliance before choosing one. Make sure that the provider offers at least ISO 27001, SOC 1/2/3 and GDPR. It’s also a good idea to check the reputation of the company on review sites for software such as Capterra and TrustRadius. It will give you an insight into the service’s capabilities and customer experience. It will also help you decide if they can handle the volume and complexity of your data.
*By submitting this form, you acknowledge that you have signed up for updates, have read the Privacy and Data Collection Statement and that you consent to the use and disclosure of your personal information set out in that statement.