Virtual Data Room Software creates a secure, online space for the upload, storage and management of documents that are time-sensitive. Common uses include facilitation of due diligence for M&A, capital raises, audits and tenders. For companies operating in the life science and technology industries, VDRs are particularly important for storing research results, clinical trial data and other proprietary information.
Finding the best VDR for your specific requirements will take more than going through a vendor’s listing of functions and features. It is also important to look at customer reviews and employee ratings on third-party websites like Trustpilot and Glassdoor. It’s important to choose the service provider who has been operating for a while and has a good foundation of reviews.
Choose an interface that is easy to navigate and easy to upload and find files. It’s also helpful if the VDR offers a variety formats for files, supports various languages and has a range of collaboration tools.
Check that the VDR you choose has comprehensive security features. Ideally, it should have two-factor authentication and offer password protection as along with IP-address-based access restrictions. It should also be able to support document watermarking, granular sharing and other features. In addition, it should provide advanced reporting that enables users to track their details of activity, down to individual views and downloads.
Find look for a VDR that allows you to alter the appearance and functions of its interface to reflect your brand. For example, FileCloud enables you to add your logo to the login page and email templates, as well as set permissions at the partner account level.