When companies collaborate with other companies for business transactions and litigation it is common for them to share confidential documents outside of their firewall. Virtual Data Rooms are online repositories that let you securely store and share digital files. VDRs are a tried and tested solution for complex projects as well as business processes that require the disclosure and sharing of sensitive documents, such as intellectual property, financial data, and case file information.
When selecting a VDR make sure you choose a provider with robust security features that go beyond typical compliance requirements. Look for permissions that are customizable including watermarking, the possibility to revoke access remotely and detailed activity tracking that gives administrators granular insights into how files are viewed or printed, downloaded, or saved. Look for an interface for users 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 well-versed in the nuances of your business’s industry. The top providers offer 24/7 support with multiple channels to ensure that each question gets a swift response. Find a feature called Q&A that allows users to ask questions without having to resort to email. It also lets administrators to efficiently sort, manage and organize questions.
Find out specific performance and reliability statistics. Be sure to inquire about uptime as well as delays, interruptions and delays to assess the reliability of a vendor compared to similar products. Ask the prospective partner if their platform works well with other tools within the tech stack of your organization.