Virtual Data Room Software is an online secure space that allows for the uploading, storing, and management of time-sensitive data. Due diligence is often utilized to facilitate M&As capital raises and audits. For companies in the life science and technology sector, VDRs are particularly important to store research results including clinical trial data as well as other confidential information.
Finding the right VDR for your specific needs will take more than reviewing a vendor’s list of functions and features. You should also take into consideration reviews of employees and customer reviews from third-party sites such as Trustpilot and Glassdoor. It is important to select a service provider that has been in business for a long time and has a solid base of reviews.
Find a simple, user-friendly interface that allows you to upload and search for files. It’s also helpful when a VDR offers a variety formats for files, is compatible with various languages and has a range of collaboration tools.
Ensure that the VDR you choose includes comprehensive security features. Ideally, it will allow two-factor authentication as well as password protection and IP-address-based access restrictions. It should also permit document watermarking and sharing at a granular level. It should also allow advanced reporting that lets you view all activity, down to individual file views and downloads.
Also, consider a VDR that allows you to customize its appearance and function to fit your company’s branding. For instance, FileCloud enables you to include your logo on the login page and email templates and also to give permissions to partners at the account level.