Virtual data rooms (VDRs) are secure platforms for sharing and storing crucial project documents. They are used to ensure due diligence in M&A transactions and litigation, real estate transactions, and for managing case files.
VDRs are designed to safeguard sensitive information by restricting access to it. This makes sure that no one else can view your files other than you. They also help with compliance with regulations by providing detailed activity tracking and customizable reports.
When choosing when choosing a VDR, look for one that is compatible with your project and industry needs. Some VDRs, for example, have a “favorites feature that allows users to mark files and folders as favorites my response for quicker access. Some also have infinite scrolling that greatly reduces the number clicks required to review documents. Certain documents feature dynamic watermarks which display the user’s IP address and name when they view or save a document.
Some VDRs not only boost productivity by incorporating collaboration tools, they also make it simple to import projects and data from other platforms to the platform while maintaining their folder structure. This is particularly beneficial during migrations or when consolidating digital tools into one system. In addition, some VDRs provide an annual, unlimited-use contract as opposed to a single-use transaction to improve budget predictability and boost ROI.
For an exhaustive list of features and more, look up Digify’s extensive VDR solution. Start your free trial to get the benefits of serious sharing. Contact us to schedule a demo of our innovative VDR solution designed specifically for your business.