What Is a Virtual Data Room?

Virtual Data Room (VDR) is a platform for software where businesses can store and share sensitive information in a safe environment. It is used to conduct due diligence during mergers and acquisitions as well as litigation and financial transactions.

The VDR industry is extremely fragmented, with vendors offering a variety of features and price points. The best providers provide an intuitive user interface and support personnel who can speak several languages. They also have a comprehensive analytics function that provides information behind the scenes about how documents are opened.

Certain data rooms are made specifically for certain industries. For instance, the life science industry requires documents that contain intellectual property as well as medical information to be stored and shared. Many companies offer built-in features to facilitate these processes. For instance redaction (blacking areas of files that contain personally identifiable information) is a feature. The industry of immovable property needs to communicate contracts to contractors to help with building projects. Some vendors offer built-in capabilities for this, like the ability to share blueprints or other important documents immediately with subcontractors through a VDR.

Request a demo for free and take note of how easy it is to navigate. A VDR which is difficult to use won’t be efficient, so be sure to test every feature before committing. Also, think about the reliability of the VDR and its uptime. A reliable VDR must be operational and accessible at all times, with little or interruptions.

data room technology