If you are in charge of managing an important legal case or a sensitive business transaction, then you’ll need to ensure your personal information doesn’t get into the wrong hands. A virtual data room is essential.

A VDR offers increased security and control over files through allowing users to browse through documents in a secure environment. They are perfect for M&A transactions as well as other sensitive business ventures. The best VDRs have features that help ensure your data is secure, even if an unauthorised user downloads an unauthorised file. They include fence view and view only mode, which prevents users from printing, saving or downloading financial reports verification files and taking screenshots. Additionally, a reliable VDR will provide an audit trail that tracks the activity of documents. This includes who saw what from where, and when.

A VDR that is effective allows you to define the access permissions at a granular level. You can restrict the viewing, printing, and PDF downloads that are secure by the role of the user. You can also set deadlines for documents and messages. It can also index documents and directories according to their content and will automatically notify users to new activity in the data room.

A great VDR also comes with an Q&A feature that lets you to talk about your concerns regarding the document in real time with other users. This is particularly helpful during due diligence as it facilitates faster and more efficient communication between buyers and vendors. It also helps to avoid embarrassing miscommunications or misunderstandings.