Selecting a Virtual Data Room

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When businesses collaborate with other companies for business transactions and litigation it is common for them to share confidential documents that are not within their firewall. Virtual Data Rooms (VDRs) are online storage facilities for storing and sharing digital files in a secure manner. VDRs are a proven solution for large-scale projects and business operations that require the sharing and disclosure of sensitive documents, including intellectual property financial data, case file information.

When choosing the right VDR provider, choose one that offers robust security features that go beyond the standard compliance requirements. Look for customizable permissions such as watermarking, the capability of rescinding access remotely, and detailed activity tracking that provides administrators with detailed insights into the way that files are being viewed, printed, downloaded or saved. Find a user interface that is easy-to-navigate and designed to facilitate collaboration, without sacrificing security.

Contact the VDR partner’s technical support and whether their staff are familiar with the nuances of your company’s industry. The best providers offer 24/7 support via a variety of channels, ensuring that each inquiry is promptly answered. Look for a Q&A option that allows users to ask questions without resorting to email. It also allows administrators to efficiently sort questions, manage and organize them.

Although many VDR providers tout their ability to scale, make sure to inquire about specific performance and reliability information. Inquire about uptime as well as delays, interruptions and delays to determine the reliability of a particular vendor in comparison to similar products. Ask the potential partner if their platform integrates well with other tools within the tech stack of your organization.