Whatever industry you work in, you’ll have to manage a huge amount of various files. Managing these documents via physical files is not efficient and time-consuming. It takes longer to read printed documents and you’re more vulnerable to unauthorised access. A virtual dataroom (VDR) allows authorized individuals to access and review documents remotely. It improves collaboration between global teams and eliminates geographical barriers. It also reduces risk of unauthorized entry and enables strong compliance measures.
When selecting a VDR choose one with advanced features designed to address the specific requirements of your company. You’ll want a provider that offers drag-and-drop and bulk upload capabilities as well as accommodate various file formats. Look for a virtual room with a sophisticated search engine that can identify and index text in files.
VDRs are able to automate workflows and processes such as giving permission to users based on their role. Moreover, they can track every document that is accessed by authorized users, including the date and how many times the document was viewed or downloaded.
You should search for a provider that offers mobile apps which work on all platforms, without any additional software or plugins. It is also recommended to choose a provider that offers multilingual support in order to meet the needs of users from different ethnic backgrounds and nationalities. Finally, ensure that your VDR has audit trails that capture every action taken by every user in the virtual data room including when they entered and left the platform, which documents they downloaded or browsed, and their IP address.