Many people, like investment bankers who counsel clients and corporate executives responsible for M&A transactions are under the impression virtual data room providers are the same. However, there are a great variety of subtle differences in the features, security, and user interface design that can determine the effectiveness of a VDR solution is suited to the specific business.

A virtual dataroom allows an organization to share important documents in a safe way to multiple parties. This includes investors from outside and attorneys who are working in different time zones and locations. Giving the appropriate degree of access to these stakeholders allows everyone involved to collaborate effectively and speeds the process of decision-making.

The top VDRs offer a range of flexible and customizable permissions that ensure the data is secure and only accessible to the appropriate users. This can include setting individual permissions for users and files to download only, view only and print. The ability to place dynamically generated watermarks to each page of a document that is printed or viewed, provides an additional layer of protection. VDRs allow users to audit their actions, so they can see who has accessed the information and how frequently.

When selecting a virtual data room, it’s important to think about the cost structure of the service. Typically, VDRs have one of three choices for payment: per-storage, by-page, or per-user. When comparing vendors look for pricing models which reflect the nature of your project and the number users you expect to access the dataroom.

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