A virtual dataroom (VDR) is an online repository on internet that allows files to be shared quickly and securely. It is different from traditional document sharing platforms in that it allows multiple users to use the platform at one time and also features such as an incredibly precise tracking of activities. It’s designed to work with a wide range of types and sizes of files. This makes it ideal for legal transactions, M&As, and fundraising.
The top VDRs have an user-friendly interface, and they comply with security and compliance requirements. They also provide a wide range of features to help companies to work more efficiently. These include the ability to add watermarks to documents and monitor activity. They also offer e-signatures and encryption. Some are compatible with different operating systems.
When selecting a VDR provider, it is crucial to know the needs and goals of your business. For instance, a company that is a start-up is likely to require a user-friendly platform that has a a short learning curve and a 24-hour customer assistance. A M&A company might require a VDR that is capable of handling massive amounts of data.
The best VDRs offer various pricing structures that can be adapted to different business models and budgets. For instance, some use the structure of a per-page fee, while others cost based on size of storage. Some companies provide a flat-rate monthly cost that covers unlimited users and unlimited pages. Some companies provide free trials for potential customers to try the software out before buying it.