Virtual data rooms (VDRs) are online storage facilities that allow secure exchange of digital documents. VDRs integrate cloud storage with security to let users access shared data on any device online, at any moment. VDRs allow companies to share information more quickly and securely than physical data rooms or other methods for sharing data digitally.
A modern-day virtual data room includes a variety of document-specific security features that provide granular control over who can print, save or browse a particular document. It should also feature the ability to locate information within documents and files, including PDFs, and produce intelligent results. It should also include document processing capabilities that convert handwritten or typed text, paper-based documents and text saved in images into a digitally intelligible format. It is required to track and record user activities all the way to the page level and provide a thorough audit trail to ensure compliance and in the event of disputes.
Because many users will be new to using the platform, it’s vital that the VDR provider offers extensive user onboarding and training sessions. This could include webinars, video tutorials or other online interactive sessions. A VDR should also be able to connect seamlessly with popular productivity software, like project management tools such as communication platforms, communication platforms, and document editing applications. This will make it easier to navigate and improve collaboration. It must also be compatible with mobile devices and platforms that cross-platform to make it easier for remote users to collaborate.