How to Build a Powerful Virtual Data Room

A virtual data room (VDR) is a secure online storage solution that enables companies to manage, store and share confidential documentation with many parties. It is often used for M&A due diligence (mergers & acquisitions), but the VDR can be used to manage any other project or business transaction that requires sensitive information.

The most effective virtual data rooms offer a simple, intuitive interface that allows for the simple management of large quantities of files. They are able to handle a broad range of file formats including images, text and video. They also have granular permissions settings that let administrators restrict who can print, view, or download documents. They also come with tools for redaction and watermarking to protect privacy and intellectual property.

When choosing a virtual data room, think about how adaptable it is to different operating systems and devices. It must be compatible with iOS and Android, without the requirement of additional plugins. In addition it should permit bulk uploads, using drag-and drop functionality. It is also worth looking for folder templates to ensure a logical filing structure. Users can navigate the virtual dataroom more efficiently by creating a folder called “Finance”, with subfolders for each financial statement. It is also recommended to use a file type recommendation system to upload and store files. This aligning IT and business goals via data solutions will help save time and effort, permitting users to upload files directly into proper folders. A system that suggests file names with underscores between words could also be beneficial, as it will make it easier for users to search for and retrieve documents using keywords.