VDR software enables companies to share confidential documents with external individuals, including potential investors or clients. This is particularly beneficial for the legal sector in which many procedures require sensitive sharing of documents. It doesn’t matter if it’s an M&A or due diligence procedure or an IPO, a virtual data room simplifies the process and makes sure that confidential information isn’t disclosed to unauthorised parties.

In addition, the ability to integrate the platform with existing business applications allows parties to work on projects together. For instance the integration with Asana lets users link tasks in Asana with the relevant documents on the VDR platform. This allows project managers and teams to stay informed of the progress of their projects, as well as the responsibilities they have.

To find the best virtual data room, search for a platform that offers features that will meet your needs. A VDR must be secure with anti-virus and malware scanning, multifactor identification, and advanced encryption. It should also have an audit log, which records all document and virtual data room service providers user actions, as well as the ability to drill into these details. It’s also worth checking whether a VDR partner has certifications from third parties, such as SOC, to ensure you have confidence that the platform meets industry-leading security standards.

A user-friendly, clean interface is an additional feature that is essential. It should be accessible to the CFO as well as the entry-level accountant. Choose a provider that is able to meet this by offering a simple setup and extensive deployment options. Check if your VDR can be customized with your logo, terms and condition, and general layout.