A virtual dataroom (VDR) is a secure method for companies to share documents with third-parties. They are typically used in the due diligence process in a business transaction, but they can also be used to store a huge number of documents belonging to the company for use by internal teams.
It is important to consider the storage capacity as well as the features you require for your project when choosing a VDR. A calculator on the website of the vendor can help determine the amount of storage space will be needed. Additionally, it is important to keep in mind that text documents take less space than high-res images or technical drawings.
Online data rooms are a great option to support our current world of work
Most people are familiar with the importance of an online data room in M&A deals However, they can also be used for other purposes. Life science companies, for instance typically need to share sensitive documents with potential investors. This could include information about patents, product development, and financial performance. This type of sharing may take a lot of effort and is essential to protect the information with strong security features.
The top VDRs provide enterprise-grade handles which protect sensitive files from unauthorised access. Users can also establish an access accord for sensitive files and include watermarks to stop unauthorized sharing of files and modification. Some vendors provide 24/7 customer support, and also have an experienced team that can answer any questions or provide assistance with any aspect of the VDR.