A virtual dataroom is an online service which lets companies easily share confidential documents and files. These tools can be utilized for many different projects but they are especially beneficial during due diligence for mergers and acquisitions. They can make the review process much quicker and less costly, since buyers don't need to travel to the company's office to look over massive amounts of documents.

A reliable VDR allows you to store sensitive data and protect it by limiting access and two-factor authentication. It also tracks every activity with a full audit trail. This will stop data leaks and provide peace of mind during a deal. Find a feature that allows you to add a watermark to documents in order to thwart downloading and printing. This is an important feature for banks for instance, since it helps protect their reputation from the danger of sensitive information falling into the wrong hands.

You'll also need to choose a platform that works on both mobile and desktop devices. This is important for your team and will allow users to benefit the most from the tool. You should be able to customize your interface and create folder structures to organize different categories of documents. It is also worth considering the option of electronic signatures. This is a crucial feature for financial professionals and makes it easier to conclude deals.