VDR features that are crucial for companies that are evaluating virtual data rooms are security, scalability, the ease of use and support. Security features include antivirus and malware scanning, firewalls, and multifactor authentication and advanced encryption for uploaded information. Comprehensive audit logs give an audit trail of all actions taken within the VDR that includes views, downloads, and any changes made to files and folders. VDR admins can choose to create custom watermarks that give a name and date stamp to each file downloaded.
A good VDR should allow users to modify the interface and notifications, as well as support should be available via live chat in the app or phone, as well as email and help centers with videos of the product. The device must be compatible with Apple devices, Android devices and Blackberry without the need for additional plugins. Advanced text search allows for a quick and simple review of files, documents and folders. The organization tools for folders must provide a hierarchical structure as well as logical organization, with tags that provide an additional layer of flexibility. A Q&A section lets users to ask questions and get answers on specific documents or folders.
Private equity and VC firms typically work with a variety of clients at once, requiring them to quickly and efficiently share massive amounts of data. In these instances, a VDR is the best solution to help with due diligence and help speed up the process. VDRs can also be beneficial in other fields, such as life science, technology, and financial services. VDRs help these companies streamline sharing of confidential information with Data Room information security policies legal teams, clients and third parties during litigation.