Virtual data rooms are a vital tool for many businesses to facilitate transactions. Selecting the right VDR solution can mean the difference between a efficient procedure and one that’s complicated and hinders deal success.
Alongside robust physical security measures like backups of data offsite and fire protection, a good virtual data room service can provide customizable features to help protect sensitive information. These features include encryption of data both during transit and in rest click here to read as well as dynamic watermarks placed on every printed document page; granular user permissions that permit the administrator of the data room to determine who is allowed to view or print documents.
Another benefit of a virtual data space is that it provides an centralized location to store and share confidential documents. This cuts down on the time spent sending documents via email and allows easier access to files during due diligence or project coordination, as well as other business tasks.
Finally, a good virtual data space will provide an audit trail of all documents and user activity. This is a critical feature for businesses in highly regulated industries like finance or healthcare where compliance is essential. The ability to determine who has used the data, when and for how long, can assist in maintaining compliance in the case of an audit or investigation.
In a recent instance, an important pharmaceutical company made use of a virtual data room in support of a complex merger with another industry giant. The VDR’s ease of communication and increased security of data enabled the parties to reach a successful agreement quickly.