Virtual data rooms (VDRs) are online storage facilities that allow secure exchange of digital documents. VDRs combine the convenience of cloud storage and security features to allow individuals to access shared data from any online device at any time. As a result, VDRs enable companies to check this share their data more easily and securely than physical data rooms or traditional digital sharing methods.
A modern virtual data space offers a variety of security features for documents that provide granular control over who can print, save, or view the document. It should also include a search functionality that can locate information in various documents and files, including PDFs – and give intelligent results. It should also include the capability of processing documents to convert handwritten text, paper documents and images saved as text into a digitally readable format. It should be able to monitor and record user activities down to the page level, providing a detailed audit trail for purposes of compliance and to be used in disputes.
Because a large portion of users will be unfamiliar with the platform, it’s vital that the VDR provider provides extensive user onboarding and training sessions. This could be via videos, webinars or other interactive online sessions. A VDR should also be able of integrating seamlessly with popular productivity software, such as project management tools such as communication platforms, communication platforms, and applications for editing documents. This will allow for easier navigation and more efficient collaboration. It must be compatible with mobile devices as well as platforms that cross-platform to make it easier for remote users to collaborate.