Virtual Data Room Software is an online secure space that permits the uploading, storing and managing of files that are sensitive to time. Common uses include facilitating due diligence for M&A, capital raises, audits and tenders. For companies operating in the life science and technology sectors, VDRs are particularly important to store research results such as clinical trial results and other confidential information.
Choosing the right VDR to meet your specific requirements is more than reviewing a vendor’s list of features and functions. Also, consider the reviews of customers and employee ratings on third-party websites such as Trustpilot and Glassdoor. It’s important to choose a service provider that has been operating for a long time and has a good base of reviews.
Look for a simple and user-friendly interface that makes it easy to upload and search for files. It’s a plus when the VDR supports multiple languages, provides many file formats, and includes various collaboration features.
Make sure that the VDR that you choose has complete security features. Ideally, it should offer two-factor verification, and provide password protection, as along with IP-address-based access restrictions. It should also permit document watermarking and sharing at a granular level. It should also permit advanced reporting that allows you to monitor all activity to individual files views and downloads.
Find the VDR that allows you to alter its appearance and features to match your brand’s. FileCloud, for example, allows you to add your logo to the email and login templates and also set permissions on the partner account.