Businesses frequently need to share sensitive information with third-party parties in the context of M&A and other financial transactions. A virtual dataroom (VDR) is a simple and secure method of facilitating these transactions without the risk of a security breach. However, not all VDRs are made equal. To choose the best VDR for your business, you will need to look at features, pricing and security options. This article will help you select the most suitable virtual data room.

Accessibility

VDRs give access to multiple users, regardless of where they are, resulting in significant time savings. Compared to traditional data rooms that require dealmakers and other interested parties to travel for hours examining piles of paper, VDRs let users review documents quickly, with just a few clicks.

Security

The best virtual data rooms offer advanced encryption and other security features to safeguard your files in storage and during transmission. They also provide users with granular permissions for their users and advanced collaboration tools to simplify due diligence processes. Be sure to read the security and privacy policies of your VDR before signing up.

Find a VDR with a robust login process and additional security features such as two-factor authentication, file watermarks, and restricted view features to avoid leaks. It should also let you examine the number of files users have viewed, at what time they logged in, and which IP address they used to sign in.