A virtual dataroom (VDR) is an online repository on internet that allows documents to be shared swiftly and securely. It is distinct from traditional document sharing platforms because it allows multiple users to access the platform at once and features such as precise tracking of activity. It’s also designed to support many different types and sizes of files. This makes it suitable for legal transactions, M&A and fundraising.
The top VDRs have an intuitive interface, and they comply with security and compliance requirements. They also offer a broad range of functionalities that enable companies to work more efficiently and effectively. They also let you track your activity and add watermarks. They also provide electronic signatures and encryption. Some are compatible with various operating systems.
It is important to know the goals and requirements of your business before deciding on the right VDR. For instance, a startup is likely to require a user-friendly platform that has a an easy learning curve and a 24-7 customer assistance. On the other hand an M&A company might require a VDR that can handle massive amounts of data.
The best VDR providers offer a variety of pricing plans to meet different budgets and business models. Some charge per page, whereas others charge according to the size of the storage. Some also offer a monthly cost that covers unlimited pages and an amount of users. Lastly, some provide free trials that allow potential customers to try out the software prior to making a purchase.