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The 7 Features of Effective Virtual Data Rooms (VDR) and Definition

The Virtual Data Room is an ideal platform for easily, securely and systematically exchanging confidential documents with third parties during due diligence for M & A, partnerships, financing and asset sales. However, not all data rooms are the same.

When buying a Vault Virtual Data Room, look for something that not only offers the highest level of functionality, but is also intuitive and quick to deploy. A good virtual data room requires very limited training and should be able to enter extensive due diligence material in an hour or two instead of a few days. When evaluating your application's virtual data room, keep the following features and characteristics in mind:

The 7 Features of Effective Virtual Data Rooms (VDR)
Virtual Data Room

1. Document Control

At the heart of modern virtual data rooms is the ability to protect and control sensitive documents while sharing them with third parties. A good virtual data room uses enterprise-class security, even on computers and devices that are beyond the control of the enterprise IT department. This security technology should be applied consistently regardless of whether the document is displayed on a Windows, Mac, or iOS device.

2. Content Composition and Presentation

A good VDR needs to present documents intuitively and easily in a structured, engaging and professional way so that they can be reviewed efficiently and quickly on all devices. there is. Look for VDRs that add the flexibility to organize your documents using tags, not just a folder structure. In many cases, you need to place the same file in multiple locations within your hierarchical organization. This can be especially important during due diligence. In the folder structure, you need to make a copy of the file and place it properly. In addition to the cost of additional storage, this requires tracking each copy of the same document for version control purposes. With the tag structure, you can simply tag the same file multiple times and the same file will appear everywhere.

3. User Activity Monitoring

The selected VDR should track who saw what, when and how long at the site level.
With full-featured user activity monitoring, VDRs not only generate the detailed audit trails needed for compliance, but also provide insightful business intelligence on the progress of user document reviews. For example, if members of the personnel team and the statutory due diligence team spend a significant amount of time reviewing employee complaint records, they find that they have liability concerns and are willing to address those concerns. Can be dealt with.

I'm looking for a VDR that can track user activity at the site level, track IP addresses, and have flexible and built-in analytics.

4. Secure and Reliable Cloud Infrastructure

When choosing a virtual data room, some to determine if the server is in a world-class data center and hosted by a high-end service provider. I need to ask a question. Make sure your vendor offers comprehensive security and reliability through multiple levels of redundancy.

Make sure the server is hot-swappable and highly available, and that the data center infrastructure is designed for high reliability, including redundant networks, Connections, power systems, cooling systems, routers, cables.

5. Accelerate document preparation and review

Due diligence schedules are often compressed, with speed and efficiency being paramount. With the VDR of your choice, you can quickly and easily launch and run your website without the hassle of clicking multiple times. Look for a VDR that simplifies management setup and maintenance tasks. Management should not be cumbersome, slow, or frustrating, especially when making bulk changes to permissions, policies, or how content is organized.

6. Seamless Technology Integration

Today's latest virtual data rooms provide several solutions for seamlessly integrating data rooms into existing business processes. The VDR you choose must provide a flexible and secure web services API that allows you to programmatically create, configure, and control virtual data rooms and tightly integrate them into your business processes. Look for features that use embeddable widgets and single sign-on so that users can log in to their existing secure web application and launch VDR with a single click.

7. Service and Support

The excellent virtual data room is easy to set up, intuitive to use and requires little training, but offers unmatched support 24/7 when needed. Must be provided. Don't be afraid to ask the following questions.

  • What kind of support will be provided during the setup, configuration, and deployment of the
  • Is there a dedicated project manager who not only assists in setting up the
    VDR, but also provides the expertise to streamline the project?
  • Will the training I receive be customized to the specific needs of my application?
  • Do you provide 24/7 telephone support?
  • Do you support remote screen sharing to speed up problem resolution?
  • Does support include migration from other VDRs or file sharing systems?

Last Word

The Virtual Data Room can be an essential tool for facilitating business transactions and other applications where the secure exchange of sensitive documents is essential. However, choosing the right virtual data room with the advanced features you need can mean the difference between an efficiently streamlined process and a cumbersome process that hinders your business's success.

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