Virtual Data Room Facts

Virtual data rooms (VDRs) are frequently used by accountants, lawyers and auditors of a company who require access to confidential data without risking an attack from hackers or a violation of compliance. A VDR is designed for external users is designed to let them access confidential documents online, without risk.

VDRs are widely used for M&A due-diligence. Companies who are merging or buying need a secure platform for storage of the relevant documentation. Prospective investors also require an easy way of reviewing it. A dedicated VDR helps the process be completed smoothly and ensures that the important information is only shared when required. If a deal does not close, access can be revoked at any time.

Many VDR vendors offer a range of user management tools to maintain control over the information that users view. Always ensure that the platform you select has robust settings for permissions so that you can restrict access to certain types of data. This includes granular information like the file’s name and size. You should also choose an option that provides granular auditing, including activity logs. This will give you full transparency regarding who is viewing what files.

In addition, if you plan to make use of your VDR for business processes that are mission-critical that aren’t part of a 9 to 5 workday choose virtual data room facts an option that offers 24/7 support. It’s worth paying extra to have a team of experts on hand to address questions and address concerns.