Finding the Right Virtual Data Room Software

Virtual Data Room Software is an online safe space that allows uploading, storing and management of time-sensitive files. Due diligence is commonly used to facilitate mergers and acquisitions, capital raises, and audits. For companies in the life science and technology industries, VDRs are particularly important to store research results, clinical trial data and other information that is proprietary.

Choosing the right VDR for your specific needs will take more than looking at a vendor’s list of features and functions. Also, consider the reviews of customers and employee rating on third-party websites such as Trustpilot and Glassdoor. It is recommended to pick a service that’s been in business for a long time and has built up a strong base of credible evaluations.

Find an interface that is simple to navigate and easy to upload and locate files. It’s also helpful if a VDR offers a variety of file formats, supports multiple languages and provides a range of collaboration tools.

Be sure that the VDR you select has extensive security features. Ideally, it should have two-factor verification, and provide password protection, as well as IP address-based access limitations. It should also be able to support granular sharing, document watermarking and other features. Furthermore, it should offer advanced reporting that enables you to view detailed details of activity, down to individual views and downloads.

Look for the VDR that allows you to customize the appearance and functionality of its interface to fit your brand. For example, FileCloud enables you to add your logo to the login page and email templates as well as to set permissions at the partner account level.

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