Virtual Data Room Software

Virtual data room software provides an online, secure space for sharing and collaborating on documents that are time-sensitive. Common uses include document disclosure and review for M&A due-diligence, sharing legal documents to law firm teams in preparation of case preparation and engaging potential customers during sales processes.

Every company, regardless of their size they should invest in a VDR. A good option should include basic functions, including search, audit logs and granular sharing. Advanced functions can improve a company’s workflow and increase its efficiency. Additionally, some vendors offer extra services that help facilitate a successful transaction. These can include support services, which can be provided at a reduced cost bundle with the virtual data room.

Brainloop CapLinked and Securedocs are among the most popular companies that provide a range of functions. Each of them comes with a set of features that can be helpful in the M&A process, such as specific permissions, digital watermarking and audit logs. They also support many file formats and are available in multiple languages. They are expected to be able offer secure access through a browser or their own mobile apps.

Custom branding and a comprehensive security are a few other features that are useful. For instance, the most trusted data rooms provide a remote mobile app wipe and a proprietary engine for file scanning to block ransomware, and comprehensive audits. A good vendor will also be ISO 27001-certified, and will ensure that the platform is designed for its customers’ needs.