Selecting a Virtual Data Room

When businesses work with other companies for legal proceedings and business transactions, they often need to share confidential documents beyond their firewall. Virtual Data Rooms (VDRs) are online repositories Virtual Data Room that can be used for storing and sharing digital files securely. VDRs are a tried and tested solution for large-scale projects and business processes that require the disclosure and sharing of sensitive documents such as intellectual property, financial data, and case file information.

When selecting the right VDR provider, look for one that offers strong security features that go beyond standard compliance requirements. Look for permission settings that are customizable such as watermarking, the ability to revoke access remotely, and thorough activity tracking that provides administrators with access to detailed information about how files are being viewed, downloaded, printed or saved. Find a user interface that is easy-to-navigate and designed to promote collaboration without compromising security.

Ask about the VDR partner’s technical support services and whether their staff are well-versed in the nuances of your company’s business. The top providers offer 24/7 support through multiple channels to ensure that every inquiry is quickly answered. Look for a Q&A tool that allows users to send questions directly to email, and also allows administrators to efficiently manage and arrange questions.

While many VDR providers boast about their ability to scale, make sure to inquire about specific performance and reliability information. Ask about uptime, interruptions, and delays to compare the reliability of a vendor with other similar products. Also, inquire about how their platform is integrated with other tools within your organization’s tech stack.