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What to Look for in a Virtual Data Room

Virtual Data Room

The best VDR enables businesses to complete essential business transactions, reduce and streamline complicated processes and ensure sensitive data stays secure and available. But not all VDRs are made equal, and the differences in features, architecture and performance impact how easy it is to use and adapt to your individual workflows. You can request a demo to try out the platform and see whether it meets your business needs.

Uptime and reliability data are crucial metric to consider as they offer insight into the quality and stability of the infrastructure provided by the vendor. Request the vendor to provide a list of previous outages and downtimes to see if they were resolved and when they were resolved. This will provide you with a better understanding of their service level.

VDR partners should also offer a range of security features, such as multifactor authentication scan for viruses and malware and advanced cryptography to ensure the security of documents. Find a vendor that provides these features, in addition to physical security measures such as offsite backups, fire protection, and biometric access to their data centers.

Companies in a variety of industries rely on VDRs for secure sharing of documents with external and internal parties, including clients and third-party contractors. Legal firms, for instance employ VDRs to use a VDR as a secure means to share confidential documents with their clients and litigation teams. Financial institutions rely on a VDR when they conduct M&A deals or raising funds. A detailed activity tracker in a VDR allows users to know who, when, where and what documents are being seen to provide greater transparency.