Virtual data rooms (VDRs) are online repositories for the secure exchange of digital documents. VDRs integrate cloud storage with security to allow users to access shared information from any device on the internet, at any moment. As a result, VDRs enable companies to share their data more quickly and securely than traditional data rooms or physical digital sharing methods.
Modern virtual data rooms come with a variety of security features for documents that provide an individual control over who can view, print or save a document. It should also include an ability to search that will locate information in various files and documents – including PDFs – and produce intelligent results. It should also have document processing capabilities that can convert handwritten or typed text, paper-based documents and text saved in images into digitally readable format. It should be able monitor and record user activities down to the page-level, providing a comprehensive audit for compliance purposes or use in cases of dispute.
Because many users will be new to using the platform, it’s important that a VDR provider provides extensive onboarding and training sessions. This could be through videos, webinars or other online interactive sessions. It is also essential that a VDR can be seamlessly integrated with popular productivity tools, such as project management software, communication platforms and applications for editing documents. This will help improve navigation and collaboration. It should also be equipped with advanced mobile and cross-platform compatibility to make it easier for users to work remotely.