What Is a Virtual Data Room?

When a company has to share confidential information with a variety of parties, it can turn to a virtual data room. These platforms are software-based, and allow authorized users to access documents from any device. They tend to prioritize security over https://dataroomhosting.com sharing and provide several layers of security to ensure documents remain private.

The majority of VDR providers also feature an extensive range of support services that assist customers throughout their use of the platform. This includes live chat within the app telephone and email support, as well as training videos and dedicated team members or project managers. The majority of modern VDRs are cloud-based and compatible with mobile devices, making them easy to access from anywhere at any time.

Virtual data rooms can be used to share sensitive information and are particularly beneficial when dealing with financial transactions that are complicated, such as mergers or acquisitions. Both the sell-side and buy-side of a deal will have to scrutinize and approve documents before the transaction can take place. Using VDR to store and share VDR to store and distribute the necessary documents ensures that the company is audit-friendly and compliant with minimal effort.

Some of the key features that most VDRs include are redaction (blacking out areas of a file so personally-identifiable information stays private), fence view (which shows only a small part of a document and prevents screenshotting) and granular document permissions (controlling who can read, edit, download, print and upload). Some VDRs even offer branded watermarking to ensure a consistent appearance and feel across all documents printed or downloaded through the platform.