What Are the Best Features of a Virtual Data Room?
A virtual data space allows businesses to safely share its files with investors, buyers and partners without putting sensitive information at risk. The most secure VDRs are safe, flexible and user-friendly making them an essential tool for M&A due diligence, real estate transactions and more.
Examine the features of several vendors to determine the most effective virtual data room. For instance, you’ll want a provider that encrypts the files that are stored and in transit and offers options like watermarking and restricted views to discourage accidental leaks. It is important to determine whether the security features of a vendor are customizable.
Another feature to look for is file management tools. They include multilingual search, OCR, document preview and smart AI category options. Also, make sure the data room offers any analytics or reports for users. Certain providers, like iDeals or Citrix include these features in their subscription plans, while others charge an additional fee.
Finally, you should choose a virtual dataroom with an user-friendly interface. Every customer, whether former or current, who have reviewed iDeals praise the ease of use. It is easy to configure, navigate, and understand regardless of the users their technical background. Datasite has fewer reviews but those that do exist emphasize the ease of use of the platform. Check what kind of trial the virtual room provides to test before making a final choice.