Virtual Data Rooms (VDRs) are highly secure online platforms that allow seamless sharing confidential documents and other important business information with third parties during the process of making deals. They offer a more secure alternative to sending sensitive files via email, but this poses various security flaws that could result in legal liability.
In general, the best virtual rooms are ISO 27001 compliant and feature a variety of security features, including two-factor authentication and active watermarking. They also have access restrictions based on IP address and expiry time. Some virtual data rooms offer a 24/7 support team. A reputable provider must also offer flexible deployment options, including cloud-based and on-premise. They must also be simple to use.
There are a variety of VDR portals on the market however choosing the most suitable one for you depends on what you want to accomplish. Some VDR vendors tailor their apps to specific industry verticals, whereas others offer an all-purpose platform that can be customized with workflow templates. The most important aspect to consider when selecting a VDR is to find a solution that is cost efficient and will meet your needs. A good starting point is to read reviews (with with a grain of salt) and contacting the vendors directly to see how responsive they are. Some will also offer a free trial period to help you decide whether they are the right choice for your business.