Top Features of Virtual Data Rooms
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A virtual data room can be an excellent way to share documents with outside individuals who require access to confidential information. This is done without the threat of violating the compliance. Virtual data rooms allow for secure document sharing, whether an auditor, lawyer, investor or any other person who is reviewing documents. There are however a few key features to consider when choosing the right VDR for your business needs.
Ease of Use
The top virtual data rooms offer an intuitive interface that makes everyday operations simple and efficient. Drag-and-drop features, bulk actions and customizable dashboards streamline the most important tasks. Dedicated mobile optimization and roles-based interfaces make sure users have only the tools they need to get work done.
Security
When choosing a data room, you should choose a service that comes with world-class security features to safeguard sensitive corporate data. Document encryption, two-factor verification and dynamic watermarking are all features that prevent unauthorized viewing. Advanced audit trails provide a detailed record of who has access to what.
Real-time Collaboration
The most advanced virtual rooms allow multiple users to view and annotate documents simultaneously. This facilitates quicker turnaround times for documents and more efficient collaboration. The ability to highlight and mark up text in real-time simplifies the review process. This translates into quicker due diligence and an effective merger and acquisition processes.
A VDR that is reputable will also have extensive search capabilities that can quickly locate and display relevant data required for due diligence. Furthermore, smart analytics and reporting can make the process more productive and efficient.