VDRs (Virtual Data Room) are highly secure online platforms that permit the seamless sharing of confidential documents and other critical business data with third party in the course of negotiating a deal. They provide a safer alternative to sending sensitive information via email, which introduces a number of potential security flaws that could result in legal liability.
As a general rule, the best virtual data rooms are ISO 27001 compliant and have various security measures like two-factor authentication, active watermarking, timed access expiry, and IP-address-based access restrictions. Some also have a dedicated support team who are available 24/7. A reliable provider will offer a variety in deployment options, like cloud-based or on premise and be easy to use and easy for users.
There are many VDR portals available however, choosing the right one for you depends on the goals you intend to achieve. Some VDR vendors customize their applications to specific industries, while others provide an all-purpose platform that can be customized with workflow templates. The most important factor in choosing the right VDR is to find the one that is cost efficient and will meet your needs. You can begin by reading reviews, but take them with a grain of salt. Contact the VDR providers to find out how they respond and how helpful. A lot of them will offer an opportunity to try their services for free to help you decide if they are the right fit for your company.