Virtual data rooms are necessary for businesses that need to perform complex and sensitive transactions that require extensive documentation. However, VDR services are not created identical. Different features, pricing and security settings can affect the effectiveness of the VDR and its ability to adapt to specific business processes and workflows. The first step in sifting through the numerous vendors is to determine what you need. Data handling that is sensitive involves many different scenarios and it is crucial that the software you choose to use can be customized to meet your specific requirements and expectations.
Investment bankers, for instance depend on VDRs to manage their M&A process, which can include a significant amount of documentation, as well as sharing of highly sensitive information with other parties, such as competitors. For this reason, they require solid security assurances such as military-grade encryption and secure connections, as well as replication across multiple private servers and advanced authentication processes. They should also be capable of creating and configuring watermarks which can be applied to specific folders, documents, or a entire collection of items.
Other notable features include the ability to restrict printing and screen capture, as well as the ability to deny access after a document has been downloaded. VDRs can also be useful in allowing administrators to monitor user activities down to the individual page level. This provides them with understanding of who is secure virtual data room reviewing what and when.
A virtual data room should be able to accommodate various devices and browsers, without having users to install plugins or download programs. It is also beneficial to have an interface that is simple and easy to navigate.