Virtual Data Room (VDR) is a distinctive software product designed for businesses that lowers the risk of data breaches. It also makes it easier for dealmakers to share confidential documents on different platforms and devices. It is designed to be used for M&A, litigation support, due diligence and other complex processes that require secure document sharing. Its security features such as multi-factor authentication, session timeouts, location restrictions, granular permissions for users, and secure file viewer with watermarking, view only mode, screenshot blocking and encrypted downloads ensure the safety of sensitive data and prevent unwanted leakage of information.
VDRs also have advanced collaboration tools, such as document annotations, Q&A sections as well as the ability to assign tasks that speed up the contract-making process by a significant amount. They’re typically more expensive than cloud storage products however, the higher cost is justified by high-level security and professional support.
If you’re choosing a VDR be sure that there are dedicated areas on its site where you can read testimonials and customer stories. Also look for a trial offer, extensive options for deployment, and a flexible interface. Lastly, check whether the vendor charges a flat monthly cost or different pricing approaches such as per-storage, per-page and/or per-user. Also, take note of whether the vendor has a dedicated help center with videos and articles as well as live chat and phone support. iDeals is an excellent VDR with an intuitive and comprehensive user interface, which allows you to manage your data easily. Its various reporting options are particularly useful and beneficial when it comes to data analysis.