A virtual data room (VDR) is an online file-sharing platform that allows users to securely share documents. It also offers tight document security and storage capacity. It is one of the most well-known tools used for M&A projects due diligence, as well as other collaboration tasks. A VDR includes tools to help improve communication, including an area for Q&A and a live discussion features. If a project involves multiple people who speak different languages, the majority of reliable VDRs offer multi-language support.
A VDR will require two-factor verification, and will include features that aren’t offered in free file sharing programs. This includes firewall protection, encryption, and the ability to restrict access by time and IP address. VDRs can also be configured to utilize fence views, which restrict the viewing capabilities of viewers to allow them to look at a few lines at a time. This helps to prevent someone spying on a user’s screen, and it can also help to prevent unauthorised information disclosure.
Cloud-based file sharing solutions are great for basic document exchange but lack the functionality needed for secure documentation for business. To avoid the stress of searching through numerous emails or messages for attachments, select a VDR solution with a robust set of features. iDeals, for example lets users upload files in a variety of formats. It also includes extensive search filters. The optical character recognition feature, as well as full text search allows for quick document searches. The platform supports collaboration and a variety of business workflows, and it is available 24/7 via live chat and phone support.