The best VDRs provide a secure platform for document exchange that allows companies to complete transactions faster by removing the need to meet physically. They protect sensitive information against security breaches and other threats, by ensuring only authorized people are able to access the files. To help you choose the right virtual data space for your business we’ve compiled an inventory of the best VDR providers offering a range of features and prices to meet the needs of any budget.
The top VDR vendors allow users to customize the user interface and assign permissions in accordance with the role or contribution of each member in the project. They also provide the control of files in a granular manner and storage. Drag-and-drop functionality is another useful feature. Bulk actions, smart search, and customizable Q&A workflows also available. They also provide an audit trail of every action performed within the VDR. They can even assist companies comply with ISO 27001, GDPR, and HIPAA standards.
VDRs are commonly employed in M&A deals as well as fundraising and other investment activities. They are particularly useful for companies that generate and share large volumes of confidential information, such as HR and financial data, intellectual property, and client data. They also help improve communication within a deal by replacing disconnected technologies, such as email and external workspaces.
A reliable VDR should provide a simple and comprehensive UI that is intuitive enough for the CFO, and also accessible to entry-level employees. It should also be compatible with mobile devices, and can be installed in a cloud-based environment or on premises, based on the needs of your business. It should offer flexible pricing options, including per-user or file charges. It should also come with an effective security suite and allow integrations with other programs.