Data room software creates an secure virtual space that allows users to share and collaborate on documentation that is time-sensitive. Companies use it for conducting due diligence prior to any merger or acquisition or sending documents to law firms in the event of a ongoing legal dispute, and involving prospects in the selling process. A VDR is an essential instrument for any business that relies on timely information.
When comparing data room vendors ensure that they offer a complete range of options. Some providers only offer an enumeration of tools and charge extra for more advanced features. Others are more universal and provide the full range of options for the same price.
The most reliable online datarooms can support a variety formats for files, including Office images, images, and PDF. Some data rooms allow presentations, audio, and video. Choose a provider that has unlimited versions of uploaded files as well as rollback support. A reliable VDR will also be compatible with multiple operating systems and allow you to move large files and organize them with a directory listing or dataroom index.
In terms of security, the most secure virtual data rooms are secured by a wide range of compliance certificates and extensive access control features. For instance, iDeals, Citrix and Datasite all have multi-factor authentication, security impersonation of the user and mobile device management, access expiration as well as IP-address-based restrictions.
Customer satisfaction is another crucial aspect of a reputable virtual data room. You can determine whether a service has a good reputation by reading reviews on popular reviewer platforms like Capterra and G2. Look at the number of reviews as well as their average rating and what other customers’ opinions are about each provider.