In contrast to free file sharing tools that permit users to store files on their computers, data rooms are specifically designed for use by businesses and provide high-end security features such as virus scanning encryption firewalls, fetch views and role-based access limitations. They also have the capability to create workspaces which contain all your company’s knowledge in one location, making collaboration a breeze than ever before.
The most commonly used use of VDRs is in M&A transactions where companies exchange confidential information with third parties. By facilitating the exchange of this information, a VDR reduces due diligence time and allows parties to make more confident decisions quicker. Another use case is raising funds, where businesses must disclose confidential information to potential investors. By utilizing a virtual information room, startups and businesses can provide potential investors with access to critical documents and financial information in a secure space.
For a top-rated VDR you should look for one that has a strong reputation and a range of features. A quality VDR for instance will come with advanced search features, for instance full text search using optical character recognition (OCR), which is available on PDFs and images. It will also come with a dynamic watermark that prevents unwanted duplication and sharing, and it should allow for the setting of clear and logical access the hierarchy settings.
Brainloop, a well-known virtual data room (VDR) provider, offers many of these functions but in a more flexible and user-friendly Continue Reading way. This allows you to personalize your data room using the color scheme and logo and also branded emails and notifications.
