During major business occasions such as tenders, mergers and acquisitions, or capital raising, it’s important that all parties have access to the entire set of information. However, navigating through tens of thousands of documents can be time-consuming and can pose a security risk. Fortunately, there’s an easy solution: the modern virtual data room (VDR).

But not all VDRs were made in the same way. Many of the free file-sharing applications available on the market were not designed for corporate use and lack advanced security as well as collaboration and other features.

In fact, some of these free file sharing applications have been discovered to be compromised and susceptible to viruses, malware and spyware. That’s why it’s so important to find a reliable and secure solution, for instance a reliable VDR service with a proven track record in the field.

The most reliable online VDRs let users restrict access to documents and digital files according to their roles in the project. This makes sure that only those who need to know are able to access the data, reducing the risk of unauthorized data leaks. Advanced features such as encryption of all data transfers as well as MFA and user login monitoring that monitors IP address and device, aid in reducing the chance of unauthorised access, by adding an extra layer of protection to the platform.

Other useful features that a high-quality VDR can provide include the ability to quickly browse and locate files using the search function and the capability to drag and drop multiple folders of documents at once into the platform. The ability to determine which documents are viewed the most often can provide useful insights into what prospects or clients want to look at. This will assist you in closing deals by catering to their needs.

www.dataroomconference.com/what-to-expect-from-the-data-room-solution