VDR features that are the most important for companies evaluating virtual data rooms are security and scalability, as well as ease of use and support. Security features include antivirus and malware scanning, firewalls, and multifactor authentication, as well as advanced encryption for uploaded data. Comprehensive audit logs give an audit trail of all actions taken within the VDR that includes views, downloads, and changes made to folders and documents. VDR administrators can also design custom watermarks that add a time stamp and name to every file downloaded.
A quality VDR should allow users to modify the interface and notifications, as well as support is available through in-app live chat, phone, email and help centers that feature product videos. The vdr must be compatible with Apple devices, Android devices and Blackberry without the requirement for additional plugins. Advanced text search allows users to look over documents or folders. The tools for organizing folders should be able to allow for a hierarchical structure and the logical organization of files, with tags adding an additional layer of flexibility. A Q&A area allows users to ask questions and provide answers about specific folders and documents.
Private equity and venture capital firms are able to work with multiple clients at the at the same time, which means they have to share large quantities of data quickly and efficiently. In these cases VDRs are the ideal solution to make due diligence simpler and more efficient. Other industries that can benefit from VDRs useful include life science, technology, and financial services. VDRs can help these companies simplify sharing of confidential information with legal teams, clients and third parties during litigation.