During major business events like mergers and acquisitions, tenders, or capital raising, it’s essential that all stakeholders get access to the entire set of information. However, sorting through tens of thousands of documents can be exhausting and potentially create a security risk. There’s an easy solution: the virtual data room.

However, not all VDRs were made to be equal. Many of the free data sharing software available on the market are not designed for serious corporate use and do not have the advanced security, collaboration and other features that a dedicated virtual data room provides.

In fact, some of these free file sharing software have been discovered to be compromised and susceptible to malware, viruses and spyware. It’s important to choose a secure and trustworthy solution for your needs, such as a VDR with a solid track record.

The best online VDRs offer granular document/digital file access control for users based on their specific role in the project. This makes sure that only those who require to know are able to access the data, reducing the possibility of leaks of data. Additionally, advanced features such as encryption of all data transfers, MFA and user login monitoring to check your IP address as well as the device help to limit the possibility of unauthorized access. They provide an additional layer of security to the platform.

A high-quality VDR can also provide the ability to browse and search files quickly using a simple function. It will also let users to drag and drop several folders into the platform at the same time. Additionally, the ability to see which documents are being the most often link viewed is a valuable insight into what your clients and potential customers would like to see in the room, which can aid in closing a deal by catering to their preferences.

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